Data & Analytics

Retailers remain stuck when it comes to Internet of Things (IoT) initiatives, according to “The Internet of Things in Retail: Getting Beyond the Hype.”   The second annual report from RSR shows that retailers are increasingly aware of the impact of IoT on customer engagement and competitive advantage. Yet, they are still hesitant to invest in cutting edge technologies due to operational challenges and a lack of supporting infrastructure.  

The bonuses, along with annual pay raises, were included in employees’ March 9 paycheck.   Over the past two years, Walmart has invested billions of dollars in training, education and higher wages. These programs offer associates skills, knowledge and tools to help them grow with the company and provide great customer service during a time of rapid change in shopping habits.  

Neiman Marcus posted another quarter of declines for its second quarter.   For the period ended January 28, 2017, the chain reported total revenues of $1.40 billion, a decrease of 6.1% compared to $1.49 billion for the second quarter of fiscal year 2016. Comparable revenues decreased 6.8%.   

Canada-based convenience store operator Alimentation Couche-Tard posted net earnings of $287 million in the third quarter of its fiscal year, up 4.7% from the previous-year period.   Same-store merchandise sales fell by a point in Europe, but were up 1.9% in the U.S. Same-store gasoline sales volumes rose 2.8% stateside.   Couche-Tard’s global rebranding of its Circle K stores proceeded at a quick pace during the quarter, with more than 1,000 U.S. stores completed.  

DSW credits inventory management and more focused campaigns for its profit growth during the fourth quarter.   For the period ended January 28, 2017, the chain’s sales increased 0.4% to $674.6 million, including $27.9 million in revenues from Ebuys. This profit of 20 cents per share was four cents better than analysts were expecting for the quarter, however sales missed their estimates of $695.5 million.    Adjusted net income was $16.5 million, an increase of 43% over last year.

Disappointing shopping experiences are costing brick-and-mortar retailers serious money.   That’s according to the recent TimeTrade State of Retail 2017 survey, whose results suggest that U.S. retail stores left about $150 billion in potential revenue on the table in 2016 by failing to offer shoppers the personalized shopping experiences they want.     

Diane K. Lettelleir, senior managing counsel of JCPenney Corp., discusses why retailers can’t wait for the government to solve the patent troll problem in the commentary below:    JCPenney and numerous other retailers have been hunted for the last decade by patent trolls that aggressively file suits based on overly broad claims in patents against related but distinct technologies. JCPenney alone has endured dozens of patent troll lawsuits over this period.   

Gander Mountain has filed for bankruptcy, but it is proactively seeking a buyer.    The sporting goods retailer, which announced Friday, March 10 that it has filed for Chapter 11 protection, said it will pursue a “going concerns sale,” enabling it to function without the threat of liquidation for the foreseeable future.