Mass Merchant

Walmart is reportedly testing an unlimited shipping service that could undercut Amazon Prime.

Austin, Texas – Video and text messaging app Tango is partnering with Wal-Mart and Alibaba to offer full e-commerce functionality inside the Tango app. Tango is rolling out functionality to U.S. users, which will provide them with the ability to browse and purchase items available from Wal-Mart and the AliExpress international shopping site, which is hosted by Alibaba.

Plano, Texas -- J.C. Penney Co. topped analysts estimates for the first quarter, reporting a smaller-than-expected loss. Declaring its intent to become the “preferred shopping choice for middle America” and gain back market share, the company also raised its outlook for the year.

Penney posted a loss of $167 million in the quarter ended May 2, compared with a net loss of $352 million in the year-ago period.

JCPenney Company cited strong financial results in the first quarter as the impetus for going on the offensive to gain back share and becoming the “preferred shopping choice for Middle America.”

JCPenney reported net sales of $2.86 billion compared to $2.80 billion in the first quarter of 2014. Same store sales increased 3.4% for the period. 

The company has made inroads in recent quarters on its turnaround, and the company may finally be making progress on reconnecting with its core customers. 

Digital interactions are expected to influence 64 cents of every dollar spent in retail stores by the end of 2015, or $2.2 trillion, according to Deloitte.

New York — The Brooklyn Navy Yard Development Corp. on Tuesday announced redevelopment plans for Admirals Row that will bring a long-anticipated supermarket, new manufacturing space and a brand new community facility to the site. Wegmans Food Markets will anchor the $140 million redevelopment of Admirals Row led by Steiner NYC, the developer of Steiner Studios.
 

Macy’s Chairman and CEO Terry Lundgren offered plenty of reasons why the company’s first quarter sales were worse than expected – but also noted the confluence of factors that caused the disappointing results are largely behind the company.

Cincinnati -- Bad weather, decreased spending by international tourists  due to the strong U.S. dollar and delayed merchandise shipments from the West Coast port slowdown all contributed to Macy’s missing Wall Street projections for profit and revenue in the first quarter of fiscal 2015. Net income fell 13% to $193 million, from $224 million in the same quarter a year earlier.

Net sales dropped about 1% to $6.23 million, from $6.28 million. Same-store sales declined 0.7%.