Data & Analytics

Dick’s Sporting Goods on Tuesday hit a home run, posting second quarter results that surpassed analysts’ expectations and lifting its earnings forecast for the year.   Dick's reported net income of $91.4 million for the quarter ended July 30, up from $90.8 million in the year-ago period.   Net sales increased 7.9% to $1.97 billion. Online penetration for the second quarter was 8.5% of total net sales, compared to 7.3% last year. Same-store sales increased 2.8%.   

Walmart has launched an unusual program to combat crime in its stores.   In an experiment, the chain is dealing with shoplifters on its own terms through an initiative called “Restorative Justice,” Time.com reported.  

Stratacache has acquired majority control of Scala Inc.  

Stein Mart has launched a new website that gives shoppers a more personalized shopping experience.   Developed in partnership with Kibo, a cloud-based unified omnichannel commerce platform, the updated site is powered by the Kibo e-commerce platform. As part of Stein Mart’s overall omnichannel strategy, the feature-rich and responsive designed site gives the retailer the same experience across all of its retail touch-points.  

When it comes to providing customer service, companies often have only one chance to get it right. The reality is that even just one negative experience can be all it takes for a customer to take their business elsewhere.   

Although it’s only August and the pendulum has plenty of time to swing in the other direction, retailers are feeling optimistic about the upcoming holiday season.   That’s according to a report by Fung Global Retail & Technology and First Insight, in which more than 60% of those surveyed said they believe that holiday sales will increase compared to last year, and about 25% expect sales to increase 5% to 10%.     

Shoppers are opening their pocketbooks for back-to-school spending this year.   Parents expect to spend an average of $1,642 on back-to-school expenses this year, up significantly from $1,239 in 2015, according to the American Express Spending & Saving Tracker report.   Parents are expected to spend more on musical instruments this ($267 vs. $194 in 2015), along with mobile devices ($172 vs. $125 in 2015).   

Consumers cooled their spending in July.