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Destination XL Q2 loss widens; plans 40 new DXL stores
Canton, Mass. – Charges related to the decision by Destination XL Group Inc. to exit the Sears Canada Direct business resulted in the retailer’s net loss growing to $4 million in the second quarter of fiscal 2014, from $1.6 million a year earlier.
Total sales fared better, driven by increased traffic and higher conversion rates, increasing 6% to $103.7 million, compared with $98 million in the second quarter of fiscal 2013.Same-store sales rose 7%.
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GMA report finds CPG companies need to unlock digital opportunities
Consumer packaged goods companies need to plan for a “1-5-10” market in the United States during the next five years, in which digital’s current 1% penetration will likely expand to 5% and could accelerate to as much as 10% in short order, according to a new report, The Digital Future: A Game Plan for Consumer Packaged Goods, prepared for the Grocery Manufacturers Association by The Boston Consulting Group, Googl