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Mass Merchant

  • Wealthy shoppers prefer Amazon, really?

    It’s common to see BMWs, Mercedes and other luxury makes in Walmart parking lots, but a new study reported on by Ad Age reveals wealthier shoppers prefer Amazon.com

  • Genesco Q3 profit jumps 56%; raises 2013 outlook

    Nashville, Tenn. -- Genesco Inc. said Friday its third-quarter profit increased to $41 million, from $26.2 million in the year-ago period, better than Wall Street expected. The company also raised its fiscal 2013 outlook, even as it warned that November was off to a slow start.

  • Department stores disappoint in November

    New York -- Blaming superstorm Sandy for its disappointing November results, Macy’s reported a 0.7% dip in same-store sales and missed Wall Street’s expected 1.5% rise. The results were echoed by much of the category.

    "Despite the largest-volume Thanksgiving weekend in our company's history, we were not able to overcome the weak start to the month, which included the disruption of Hurricane Sandy," said Terry J. Lundgren, chairman, president and CEO of Macy’s. Total sales for the month slipped 0.6% to $2.45 billion.

  • Barnes & Noble swings to profit in Q3

    New York -- Barnes & Noble reported Thursday net income of $2.2 million for the quarter ended Oct. 27, compared with a loss of $6.6 million in the year-ago period.

    Revenue was nearly flat at $1.88 billion, missing Wall Street’s expected $1.91 billion in revenue.

     

  • Guess Inc. profit plummets 44.7% in Q3

    Los Angeles -- Guess Inc. reported Wednesday a profit of $36.6 million for the third quarter, down 44.7% from net earnings of $66.3 million in the same period last year.
     
    Revenue fell 2.2% to $628.8 million, from $642.8 million in the prior-year quarter, but beating analysts’ expected $624.8 million in revenue. Retail sales in North America dipped 1.3% to $262.1 million. Same-store sales overall dropped 6%.
     
    The company said economic pressures hurt consumer confidence in most of its markets.

     

  • Walmart and Toys ‘R’ Us most talked about brands on Facebook on Black Friday

    New York -- Facebook said referral traffic to retail sites from Facebook on Cyber Monday increased 240%, compared to average referral traffic for the last several Mondays.

    Among  U.S. retailers, Walmart, Toys “R” Us, Macy’s, Amazon and Converse were the five most talked-about brands on Black Friday, according to Facebook’s People Talking About metric.

  • Comps take a tumble at Target

    A worse than expected 1% decline in November same store sales indicates the holiday season is off to a slow start at Target.

    The 1% decline was substantially worse than the low single digit increase the company forecast at the start of the month when it reported a 2.4% increase for October that was toward the low end of guidance. The November weakness suggest traffic trends may be deteriorating at Target as the company said blamed the decline on a decrease in comparable store transactions following that metric’s flat performance in October.

  • Moody’s: Retailers that opened early on Thanksgiving night gained advantage

    New York -- Retailers that opened early on Thanksgiving evening gained an advantage and that promotional activity was about on par with last year, according to a new Moody’s report, “Thanksgiving Weekend: The Early Bird Gets the Worm.”

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