Retail

Dollar General Corp. reported lower-than-expected revenue for the second quarter amid increasing competition and reduced food stamp coverage.   The company’s net income was $306.52 million, or $1.08 per share, in the quarter, compared to net income of $282.35 million, or $0.95 per share, in the year-ago period.   Net sales increased 5.8% to $5.39 billion, compared to $5.10 billion last year.   

There’s no getting around it: It’s been a long, hot summer for the retail industry, one that many retailers will be happy to see end.

From the liquidation of The Sports Authority and Hancock Fabrics to the downsizing of Macy’s and Office Max (to name a few), the past few months have been full of angst as merchants struggle to find their way in a disrupted marketplace.

The good news is that many merchants are rising to the task. They are making the hard calls, however painful, and investments necessary to compete in today’s omnichannel world.

Sears Holdings Corp. swung to a loss amid declining sales in the second quarter, and chairman and CEO Eddie Lampert stepped in with more financing for his embattled company.   Sears said it had accepted a $300 million debt-financing offer from Lampert’s hedge fund, ESL Investments Inc. The loan is secured by a junior lien against Sears's inventory, receivables and other working capital.  

Get ready for a very competitive holiday season.

The Michaels Companies, named Denise Paulonis as executive VP – CFO, effective Aug. 29. The appointment is part of the retailer’s previously announced CFO succession plan.   Paulonis, currently senior VP – finance, succeeds Chuck Sonsteby, vice chairman and CFO. He will continue to serve as vice chairman and will retain executive responsibility for the growth and integration of Lamrite West and the management of Aaron Brothers stores.    

Target is taking its lighting to the next level. The retailer tapped Acuity Brands to provide Target stores with smart lighting technologies, featuring energy-saving LED fixtures and dimming controls. Target will be exclusively installing Acuity’s next generation, smart LED sales floor fixtures, along with its store accent lighting and distribution center site lighting.

Neiman Marcus is making it easier for customers to select their sunglasses.      The luxury department store retailer is launching a new technology, called the Sunglass Memory Mirror, in partnership with MemoMi and Luxottica Wholesale NA. The mirror, which is really a digital screen, allows sunglass shoppers to better engage with the product and create shareable shopping experiences.     

High-quality, graphically interesting store barricades can turn an unsightly construction or remodeling site into a brand-enhancing billboard for a retailer. Chain Store Age spoke with Bob Putnam, the president and founder of Boston Barricade Company, about the evolving nature of retail construction barricades.
    
How have retail construction barricades changed over the years?

Thirty years ago, 98% of all retail barricades were constructed using metal framing and drywall. But today, that number is down to 35%.