Mass Merchant

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.

 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.

Framingham, Mass. – The TJX Companies Inc. showed value to its investors in a strong second quarter of fiscal 2016 where it beat Wall street expectations for both profit and sales. The elimination of a debt extinguishment loss and lower interest expenses helped push net income up 6% to $549.33 million, from $517.62 million the same period the prior fiscal year.

Minneapolis – Target Corp. has reportedly reached a settlement with Visa Inc. that will reimburse issuers of Visa cards for costs related to the retailer’s 2013 data breach. According to the Wall Street Journal, the agreement will reimburse thousands of card issuers for potentially up to $67 million.

New York – Teen girls are known for being social, and they are staying true to form for the back-to-school season. According to a study of 1.035 teen girls by Teen Vogue and the International Council of Shopping Centers (ICSC), 75% of respondents will use their smartphone to seek out back-to-school inspirations and ideas.

QVC just gained some credibility among hipsters and millennials by buying a popular Internet flash sale site that caters to those younger shoppers.

Minneapolis – The ongoing shakeup of senior management that has been occurring at Target Corp. since CEO Brian J. Cornell took the reins in August 2014 is continuing. Target has promoted John Mulligan, who has served as CFO since 2012, to the newly created role of executive VP and COO, effective Sept. 1.

New York – As millennial moms are making back-to-school preparations that include planning school lunches, many are turning to their peers and the Internet to get ideas. According to a survey of millennial moms about their back-to-school lunch plans by online review site Influenster, word of mouth (79%) is the top influencer for school lunch shopping decisions.

That is followed by online reviews (59%), social media (57%), brand websites (43%), television (37%), news websites (16%) and newspapers (15%).