Business Analytics

The second quarter of fiscal 2016 is not yet over for home furnishings retailer Havertys, but shareholders may have reason to be optimistic.   Havertys reported that sales for the quarter to date are up approximately 3.6% from the same period last year and comparable store sales are up 3.2%. Total written sales for the quarter to date are up approximately 7%, and written comparable store sales rose 6.7%.   

Customers who belong to a retailer’s loyalty program spend more — significantly more — than those who do not.   That’s according to a new study by Accenture Interactive, which found that members of retailers’ loyalty programs generate between 12% and 18% more revenue for retailers than those who do not belong. The report was based on a survey of U.S. retailers across specialty, big-box, department, drug and convenience stores.   

Using walkie-talkies for in-store communication is old school at The Container Store.   The retailer is rolling out voice-controlled wearable devices that enable hands-free communication over Wi-Fi networks to its store employees chainwide following a successful pilot.   

The blockbuster $26.2 billion purchase of LinkedIn by Microsoft may benefit retailers trying to effectively recruit and manage employees who typically do not stick around for long.   The acquisition is being touted as Microsoft’s entry into social networking, an area where the tech titan has not been that active besides holding a stake in Facebook. However, LinkedIn is primarily a professional services platform and will probably not become a major consumer touchpoint anytime soon.  

Aéropostale has received final approval for $160 million in debtor in-possession financing provided by Crystal Financial LLC.

Just 9.8% of more than 5,400 financial and accounting professionals say their companies are prepared to comply with the new Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) lease accounting standards.   That is one of the highlights of a recent Deloitte poll. http://www.slideshare.net/DeloitteUS/new-lease-accounting-standards-are-companies-prepared-to-comply-62702689  

Quality Solutions, Colwich, Kansas, a leading provider of facilities maintenance and constructions services, has changed its name to QSI Facilities.    The company has also launched a new website and introduced a new approach for overcoming “value leakage” in outsourced facilities services.  

Specialty apparel retailer Christopher & Banks Corp. is not out of the red, but headed in the right direction during the first quarter of fiscal 2016.
 
The company reported net loss of $0.2 million, down from a net loss of $1.4 million the same quarter the previous fiscal year. Improved gross margin helped shrink the loss. Net sales totaled $100 million, an increase of 9%, compared to $91.6 million.

Ralph Lauren Corp. is seeking to rectify what it acknowledges have been operational mistakes with a program of cuts and organizational streamlining it calls “The Way Forward Plan.”

Specialty arts and crafts retailer The Michaels Companies Inc. exceeded Wall Street expectations for profit and sales in a generally strong first quarter of fiscal 2016.

Michaels reported net income of $70.76 million, a 6% increase from $66.74 million the same quarter a year earlier. Improvements in gross profit helped boost net income.