Data & Analytics

New York – Same-store sales generally showed modest growth in May 2015, on the whole meeting Wall Street analyst expectations. The apparel vertical in particular generally outperformed analyst predictions, although Gap, Banana Republic and Zumiez all reported negative same-store sales growth.

Following is a review of May same-store sales by vertical:

Apparel
Banana Republic: – 5%
The Buckle: 2.4%
Gap: – 6%
L Brands: 5%
Old Navy: 6%
Stein Mart: 1.9%

New York – J. Crew Group is prepping for a down fiscal 2015 after a disappointing first quarter. Non-cash goodwill impairment charges and rising selling, general and administrative (SG&A) expenses helped significantly increase the retailer’s net loss to $462.4 million, compared to $30.1 million the first quarter of fiscal 2014.

Minneapolis – The corporate restructuring that has led Target Corp. to lay off 17.600 Canadian workers and 2,200 U.S. workers has reportedly hit the retailer’s Indian operation. According to the Minneapolis/St. Paul Business Journal, Target has laid off 180 Indian employees and closed 125 open positons in India this week.

Target has pledged to eliminate several thousand positions, many from its corporate headquarters in Minneapolis, as part of a $2 billion restructuring plan instituted by CEO Brian Cornell.

 

San Jose, Calif. – The eBay Valet professional selling service will now accept high-end clothing in addition to shoes, handbags, electronics and other popular household items. eBay Valet provides features such as price estimates for potential buyers, taking professional pictures, and shipping.

eBay partnered with fashion blogger Garance Doré to officially debut the expansion of eBay Valet. Dore provided tips and tricks on what to sell and how to sell fashion items.

London - Since launching its new website in 2014, Marks & Spencer is giving its customers a more visual, interactive way to shop online. AT&T is providing hosting and application management services to the U.K.-based global department store retailer.  

Redmond, Wash. – Microsoft Corp. recently held a press tour of its Redmond, Washington campus that included briefings on the future of technology. Two items that may be of particular interest to retailers are a transformation to an IT networking model based on interconnected nodes, and a world where encryption-based security is obsolete.

“Peripherals will become nodes on an interconnected network,” said David Baumert, senior program manager technology & research, Microsoft. “They will sense the meaning of interactions.”

San Jose – A new privacy policy which will take effect at PayPal Inc. on July 1 will require users to allow PayPal, its affiliates and service providers to contact them at provided telephone numbers via autodialed or prerecorded call or text message. While the policy prohibits PayPal from sharing user contact information with outside third parties, contracted billing and collection companies are permitted to use customer phone numbers.

Oak Brook, Ill. - The Inland Real Estate Group Inc. is naming Prashant Bodhanwala, 48, as chief accounting officer, overseeing accounting, financial strategic planning and financial analyses for Inland. Bodhanwala most recently served as VP of accounting for CA Ventures LLC, a real estate development firm, where he was responsible for all accounting, tax, accounts payable, accounts receivable and payroll.

Lawrenceville, N.J. - GS1 US has recognized three companies with GS1 US Apparel and General Merchandise Retail Industry Achievement Awards. The awards, which honor organizations that have implemented GS1 standards to deliver outstanding achievements in innovating the retail supply chain, were presented to the following winning companies in three categories:

• GS1 US Retailer Excellence Award: Macy’s Inc.
• GS1 US Supplier Excellence Award: PVH Corp.
• GS1 US Solution Provider Excellence Award: OpenText|GXS

Dodgeville, Wis. – Profit plummeted in a difficult first quarter of fiscal 2015 for Lands’ End Inc. that also saw sales decline. Cost of sales and other expenses declined at a smaller rate than revenues, leading to net income of $1.72 million, down 84% from $10.86 million the same quarter a year earlier.

Net merchandise sales and services declined 9% to $299.39 million from $330.48 million. Same-store sales dropped 12.1%.