Data & Analytics

Not many retailers can say they were very pleased with exceptional results during a compressed holiday season and challenging fourth quarter, but Steinmart did.

Same-store sales increased 3.1% for the fourth quarter ended Feb. 1, while total sales for the 13-week period declined to $360.8 million from $368.6 million because the fourth quarter the prior year included an extra week, which added sales of $15.8 million to the prior-year period.

Armonk, N.Y. -- With consumers engaging more directly with businesses through mobile and social media, more than 60% of CIOs will focus more heavily on improving the customer experience and getting closer to customers, according to a new report released by IBM.

The report, entitled "Moving from the Back Office to the Front Lines — CIO Insights from the Global C-suite Study” is based on face-to-face conversations with more than 1,600 CIOs from 70 countries and 20 industries worldwide.

Cincinnati -- The Kroger Co. said Thursday that it will buy back up to $1 billion of its shares. The repurchase program replaces its existing plan, which had roughly $2 million remaining.

Kroger also declared a regular quarterly dividend of 16.5 cents per share, payable June 1 to shareholders of record May 15.
During the last four quarters, Kroger has used its strong free cash flow to return more than $928 million to shareholders through share buybacks and dividends.  

Dannon Light & Fit Greek Yogurt, Tide Pods and Monster Energy Ultra were recognized as New Product Pacesetters this week as Information Resources (IRI) unveiled the best new products of 2013 at its annual summit.

Columbus, Ohio – Net income at Express Inc. fell 25% during the fourth quarter of fiscal 2013, dropping from $63.9 million to $47.9 million. Net sales declined 2% from $731.7 million, to $715.9 million.

Same-store sales rose 1%. The company cited heavy promotions as impacting its quarterly results, which did not meet Wall Street expectations. Express intends to start opening outlet stores beginning in May 2014.

Yonkers, N.Y. — Forest City Ratner Cos. has joined Yonkers Partners in Education to create Ridge Hill Academy, a pilot program in which local businesses teach local students about the “behind the scenes” operations of retail management.

Twenty-five students selected from local high schools have just begun the pilot’s third of five 10-week sessions, which take place at Westchester’s Ridge Hill shopping, dining and entertainment center.

Radnor, Pa. – E-commerce platform provider FreedomPay has named Marc Pereira as VP of technology. Pereira joins FreedomPay after serving nearly 12 years in strategic executive roles at eEBay Enterprises.

Williams-Sonoma president and CEO Laura Alber credited the strength of the company’s brands across retail and e-commerce for its performance in the fourth quarter ended Feb. 2.