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Mass Merchant

  • Is Gap Inc. really back on track?

    Gap Inc. says its fourth quarter results show the company's turnaround plan is working, but the retailer continues to post lackluster sales and earnings.

    The parent company of Old Navy and Banana Republic says fourth-quarter profits were $214 million, or 53 cents per share, for the three-month period ended Jan. 30. That compares with $319 million or 75 cents per share, in the year-ago period. Revenue dropped nearly 7% in the quarter to $4.39 billion. Same-store sales declined 7%.

  • Sales slowdown at Best Buy to continue?

    Softness in the mobile phone category continues to hinder growth at Best Buy Co., which reported a drop in same-store sales in the fourth quarter and continued online strength.

    For the fiscal quarter ended Jan. 30, the electronics retailer reported a decline in same-store sales of 1.7%. Specifically, sales of mobile devices and computing devices fell 6.8% in the United States. The category accounts for 43% of the company's total U.S. revenue.

  • CBL announces partnership to empower young women

    Chattanooga, Tenn. -- CBL & Associates Properties announced it will be partnership with Girls World Expo. Girls World Expo is an organization that produces one-day events that bring young women together with positive female role models and programming meant to empower girls and help them realize their potential. In 2016, the expo will make stops at 10 CBL centers across the country.

  • Target bringing in startups to find innovative products

    Target Corp. is tapping into the startup community in San Francisco and the Silicon Valley to gain a merchandising edge.

    The retailer is launching a series of “Demo Days” aimed at discovering interesting new “smart” products from startup companies. The program kicked off on Feb. 23, with Target inviting 12 startups to its office near Silicon Valley to pitch “smart baby” products. Each company had 20 minutes to showcase its products and receive real-time feedback from Target.

  • PwC: Mobile shoppers in U.S. aren’t buying

    U.S. consumers are willing to use mobile devices during the shopping process, but not so much at the end.

    According to a new study of 23,000 global consumers (including U.S. shoppers) from PwC, “Total Retail 2016,” only 22% of U.S. consumers make a mobile purchase at least monthly and only 26% say mobile will become a main purchasing tool for them in the future. Deloitte cites the lack of widespread tools to make mobile purchasing easier, such as buy buttons, currently available in the U.S.

  • Mid-America Real Estate hires Eric Unatin as VP

    Bloomfield Hills, Mich. -- Mid-America Real Estate announced the addition of Eric Unatin to its brokerage team. In his new position as VP, Unatin will be specializing in landlord and tenant representation throughout the state of Michigan.

  • Target is winning back shoppers, especially online

    Brian Cornell says Target's fifth consecutive quarter of traffic growth is evidence that the retailer is making good progress on itsomnichannel capacity improvements.

    For the fourth quarter ended Jan. 30, same-store sales at Target increased 1.9%, driven by traffic growth of 1.3%. This is Target's sixth consecutive quarter of rising same store sales.

  • Stein Mart details store expansion plans

    Just a few weeks after reporting sales growth of 3.2% for 2015, Stein Mart is embarking on the first phase of its 2016 store expansion plan.

    The Florida-based retailer plans to open 12 new stores this year, with five of those stores scheduled to open this spring.

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