Mass Merchant

Weaker than expected third quarter sales prompted Kohl’s to lower its profit forecast while noting that e-commerce sales increase 30%.

The company held an investor conference on Oct. 29 and said third quarter sales were expected to decline 1.4% due to softer than expected sales during October. The top line weakness caused the company to confirm that profits would be at the lower end of a previously forecast range of $4.05 to $4.45 a share.

New York -- Shoppers plan to spend more during the upcoming holiday season with omnichannel shoppers having even higher spending expectations. According to Deloitte’s 29th annual holiday survey, total holiday spending is predicted to increase by 13% to $1,299 per household, including gifts, socializing away from home, entertaining at home, non-gift clothing for family or self, home/holiday furnishings, and any other holiday-related spending not in the other categories.  

America’s most affluent prefer Nordstrom’s brand of omnichannel retail over some of the biggest luxury retailers out there, according to a new study.

An organization called the Luxury Institute released findings from its 2015 Luxury Multichannel Engagement Index (LMEI) survey of large multi-brand retailers. Responders had a minimum annual income of $150,000, an average annual income of $318,000 and an average net worth of $3.1 million.

San Diego –- PriceSmart Inc. reported net income of $21.9 million in the fourth quarter of fiscal 2014, up 5% from $20.8 million in the same quarter the prior fiscal year. However, this was still beneath Wall Street expectations. However, PriceSmart beat Wall Street projections with total revenue of $622.6 million, a 5% hike from $585.4 million. The addition of two new warehouse stores, bringing the total to 33, helped boost revenues.

New York –- Online footwear retailer Zappos is ranked the simplest brand in the U.S. And that’s a good thing. According to the new Brand Simplicity Index ranking of U.S. brands from brand advisory firm Siegel & Gale, the top 10 list is dominated by retailers. The list includes Amazon.com at number two, Subway (#3), Pizza Hut (#4), Netflix (#5), Trader Joe’s (#6), Kroger (#7), McDonald’s (#8), Chipotle (#9) and Dunkin’ Donuts (#10).

By Mike Kercheval, President and CEO, International Council of Shopping Centers  

Menlo Park, Calif. – Deliv is expanding its same-day delivery service ahead of the holiday season, doubling its footprint with the addition of four new geographies, including Seattle, Houston, northern New Jersey and Washington, D.C. The company partners directly with retailers to add the Deliv same-day delivery option into the retailer's checkout process, whether on their website, mobile app or in their physical store.  

Bentonville, Ark. –- Wal-Mart Stores Inc. has reportedly apologized for offering Halloween outfits labeled as “fat girl” costumes on its e-commerce site. According to Bloomberg, Wal-Mart issued the apology after receiving social media criticism from offended consumers.