Skip to main content

Mass Merchant

  • Staples meets Street with Q2 profit decline

    Framingham, Mass. – Staples Inc. met Wall Street expectations with declining profit in the second quarter of fiscal 2015. Costs related to restructuring and the pending acquisition of Office Depot drove net income down 56% to $36 million, from $82 million in the second quarter of the previous fiscal year.

    Net sales fell 5% to $4.94 billion, from $5.22 billion. North American store closures and unfavorable foreign exchange rates pushed sales totals downward. Same-store sales in North America (including online) fell 3%.

  • Target trumps Walmart in 2Q

    Target’s better than expected second quarter profits, same store sales, rate of e-commerce growth and an increased full year forecast stood in sharp contrast to the disappointing results Walmart reported a day earlier.

  • Target trumps Wal-Mart with Q2 success

    Minneapolis – Target Corp. exceeded Wall Street projections with net earnings of $753 million in the second quarter of fiscal 2015, a 221% increase from $234 million the same period the prior fiscal year. Declining selling, general and administrative (SG&A) expenses and loss from discontinued operations helped boost profits as sales climbed.

    Target reported net sales of $17.4 billion, up 2.8% over the same period last year.

  • Can the Office Depot deal save Staples?

    Staples says the $6.3 billion deal to buy rival Office Depot is still on track despite the retailer’s deepening sales declines in the second quarter.

  • Former Walmart exec joins Alibaba board

    Veteran finance executive and former top Walmart executive Wan Ling Martello has joined the board of directors of Alibaba as the Chinese e-commerce giant eyes growth in the U.S.

  • Target reaches deal with Visa over data breach

    Target has reached an agreement with Visa card issuers to reimburse costs related to a data breach at the retailer in 2013.

    According to The Wall Street Journal, agreement, which could entail as much as $67 million in reimbursement costs, comes three months after a proposed $19 million settlement between Target and Mastercard fell through.

    Read more about the deal by clicking here.

  • Walmart taps brakes on Neighborhood Market growth

    Bentonville, Ark. -- In a shift to quality over quantity, Walmart has cut expansion plans for its Neighborhood Market stores despite the format’s consistently strong top line growth in recent years.

  • IHL: North American mobile POS software growth disappoints

    Franklin, Tenn. – Although mobile POS software installations by North American retailers grew 41% year-to-year, this rate did not meet expectations of analysts and industry experts. According to a new study from IHL Group, “Mobile POS Software Market Share,” the enterprise market of retailers with more than 50 stores only delivered 59% year-over-year growth, well below the expected 100% increase.

X
This ad will auto-close in 10 seconds