Predictive Analytics

New York -- The three rules of retail real estate are the same as the three rules of any other type of real estate – “location, location, location.” But each retail chain has its own unique requirements for what makes a good location, and Charlotte, N.C.-based Bojangles’ Restaurants Inc. is getting some technical assistance in determining the best spots for new stores based on factors such as who lives nearby.

Scouting the Best Locations

Toano, Va. – Lumber Liquidators increased its net income in the third quarter of fiscal 2013 58.4% to $20.4 million, from $12.9 million in the year-ago period.

Net sales grew 24.5% to $254.3 million, from $204.3 million in the same period a year earlier. Same-store sales grew 17.4%, driven by a 9.8% increase in the number of customers invoiced and a 6.9% increase in the average sale.  

New York – Despite many forecasts of a gloomy holiday season for retailers, Deloitte is predicting an increase in consumer spending. Deloitte's 28th annual survey of holiday spending intentions and trends indicates shoppers surveyed plan to spend an average of $421 on holiday gifts this year, up from $386 last year. They also expect to buy an average of 12.9 gifts, ending a five-year decline in the number of gifts they plan to purchase.

Despite many forecasts of a gloomy holiday season for retailers, Deloitte is predicting an increase in consumer spending.

I’d like to try something a bit different for this week’s column: a market-specific conversation! I’ve tapped Dave Cheatham from Phoenix-based Velocity Retail Group, an X Team International Partner, to help me examine the recent ups and downs of the local retail market in Arizona — and what the lessons learned here mean for brick and mortar retailers nationwide.

Online retailer Rue La La will be leveraging Artisan Mobile’s Artisan Optimize platform to enhance its mobile technology.

"We are excited to be working with Artisan Optimize to directly impact the results of our mobile app," said Gerry McGoldrick, VP, Marketing, Rue La La. "Through their technology we are learning what drives conversions and, more importantly, we are able to make changes quickly and easily to keep consumers engaged."

Despite having more data and insights into consumer desires and preferences, companies in the U.S. have failed to meaningfully improve customer satisfaction or reverse rising switching rates among their customers. As a result, there is a potential $1.3 trillion of revenue at play in the U.S. market represented by the ‘switching economy,’ according to new research released by Accenture.

Minneapolis – Supervalu Inc. beat Wall Street estimates with second quarter fiscal 2014 net earnings of $40 million, compared to a $111 million loss in the year-ago period.

The supermarket operator reported net sales of $3.95 billion, up 0.2% from $3.94 billion last year.

Same-store sales results varied by banner. Same-store sales in the Save-A-Lot network were negative 0.3, while same-store sales for corporate stores within the Save-A-Lot network were positive 4.6% and were negative 0.9% in the Retail Food segment.