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Mass Merchant

  • Tough Q4 for teen apparel retailer

    The Buckle reported earnings for its fourth quarter that missed expectations amid a rough market for teen retailers.    Net income for the quarter ended Jan. 28 was $36.0 million, or $0.75 per share ($0.74 per share on a diluted basis), compared to $98.0 million, or $2.04 per share ($2.03 per share on a diluted basis).   Buckle’s net sales fell 15.7% to $280.0 million, from $332.0 million for the prior year.   Same-store sales for the quarter decreased 16.1%.

  • Meijer in deal to expand delivery service

    Six months after launching home delivery, Meijer is expanding its breadth.   The grocery and general merchandise retailer is getting ready to offer home delivery across its six-state footprint, starting with Grand Rapids, Michigan on March 29, and Fort Wayne and Indianapolis, Indiana in April. Meijer also plans to continue rolling out the service to major markets in Michigan, Illinois, Indiana, Ohio, Kentucky, and Wisconsin, the grocer said.   

  • Gander Mountain exec joins arts and crafts chain

    A former executive at Gander Mountain has joined Jo-Ann Fabric and Craft Stores.    The retailer has appointed Jeff Csuy as senior VP, general merchandise manager, fabric and sewing. He will report to Sharyn Hejcl, Jo-Anne’s executive VP, chief merchandising officer, as he “leads the fabric and sewing team to drive innovation while putting the customer first in all decisions,” Hejcl said.  

  • Nordstrom Rack expanding

    Nordstrom Rack will open a store at Cascade Station in Portland, Oregon.    The approximately 28,000-sq.-ft. store is scheduled to open in fall 2017.   This will be the fifth Nordstrom Rack store in the Portland area. Portland is also home to the first stand-alone Nordstrom Rack store, which opened in 1983. The company also operates a full line stores at downtown Portland and Clackamas Town Center.  

  • Office supplies giant’s Q4 revenue, profit falls short

    Staples swung to a loss in its fourth quarter, and said it would close more stores in 2017.   The retailer reported a net loss of $615 million for the quarter ended Jan. 28, or $0.94 per share, compared to a profit of $86 million, or 20 cents per share, for the year-ago period. Adjusted non-GAAP earnings came in at $0.25 per share, one cent below the consensus estimate.  

  • Amazon to help kick off Shoptalk 2017

    Shoptalk, the next-gen retail and e-commerce event, will kick off its 2017 event with 50 speakers on Sunday, March 19, including the VP of Amazon Prime Now, Stephenie Landry.   Sunday’s content will also include a startup pitch contest with significant cash prizes.   Shoptalk take place at the Aria, Las Vegas, March 19-22.   

  • Sears’ loss narrows but other problems widen

    Sears Holding Corp. narrowed its adjusted loss in its fourth quarter, but its revenue continued to erode and its debt obligations continued to mount.   Sales plunged 17% to $6.05 billion in the quarter ended Jan. 28, down from $7.3 billion a year earlier. Although the chain’s reduced store portfolio contributed to the decline, same-store sales fell 10.3%, driven by an 8% drop at Kmart and a 12.3% at Sears.  

  • Study: Digitally native Gen Z still prefers to shop in-store

    Generation Z is called the mobile-first generation. However, their preference for shopping in physical stores presents new opportunities for retailers.   That’s according to a new report from Euclid Analytics, “Evolution of Retail, 2017 Generation Z Shopper Survey,” which found that 66% of Gen Z prefer to shop in store because they like to see, hold and try on products before buying. Also, 28% want to engage with store associates while shopping, the most of any generation.  
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