Data & Analytics

Larry Kudlow at SPECS: Lower oil prices, strong dollar good for growth
New York -- The collapse of oil prices translates into a huge tax cut for 90% of the economy, former CNBC host, economist and newspaper columnist Larry Kudlow told attendees at Chain Store Age’s 51st annual SPECS show. Kudlow was a keynoter at the event, which was held at the Sands Expo, Venetian/Palazzo Hotel, Las Vegas, March 15 – 16, and brought together retail executives in store planning & design, construction and facilities.
SPECS 2015: Three Store Planning Innovation Takeways
Chain Store Age hosted its 51st annual SPECS 2015 conference on March 15-17, in Las Vegas. Here are three takeways from the conference concerning technological innovation in the store planning area:

1. Overflowing Shelves are the Enemy
For most brick-and-mortar retailers, having shelves chock full of merchandise with every possible variation (such as size and color) is the definition of successful merchandising. But in actuality, overflowing shelves leave store associates too busy to assist customers, who are left overwhelmed.

Tiffany swings to Q4 profit: will open 12-15 stores

New York – The elimination of a one-time adverse legal ruling helped Tiffany & Co. swing from loss to profit in the fourth quarter of fiscal 2014, but a strengthening dollar hurt overall sales. Tiffany reported net earnings of $196 million, compared to a net loss of $104 million the same period a year earlier.

However, worldwide net sales of $1.28 billion were down 1% from $1.3 billion, with the stronger U.S. dollar negatively impacting foreign sales results. Same-store sales dropped 4%.
New York & Company swings to Q4 loss, will close stores

New York – New York & Company Inc. reported a net loss of $6.7 million in the fourth quarter of fiscal 2014, compared to net income of $6.9 million in the same quarter a year earlier. A variety of costs, including increased selling, general and administrative (SG&A) expenses as well as expenses related to relocation of corporate headquarters and severance, contributed to New York & Company’s negative profit results.
Gordmans Stores net income drops in Q4; six stores on tap

Omaha, Neb. – Net income at Gordmans Stores Inc. dropped 15% to $2.3 million in the fourth quarter of fiscal 2014, from $2.7 million the same period a year earlier. Increased selling, general and administrative (SG&A) costs helped push down profits.

In 2015, the company plans to open six new stores, two of which opened in the Cleveland area earlier in March. Gordmans also plans to close one store later in 2015 when the lease term expires.
Study: Multicultural consumers grow in importance

New York – Multicultural consumers are growing in importance as the U.S. increasingly becomes a multicultural country. According to an upcoming study from Nielsen, “The Multicultural Edge: Rising Super Consumers,” multicultural consumers today are leaders in technology adoption.
Mexican apparel retailer automates supply chain

Mexico City - Mexican brand manufacturer and retailer Ferrioni is updating several legacy systems and processes by implementing the complete Jesta I.S. Vision Suite. Ferrioni will not only replace its manual supply chain processes to fully automated ones, but it will also replace legacy POS and merchandising systems.
Report: Retailers missing out on big opportunities with Baby Boomers

New York -- Retailers in the United States are taking a huge risk by underestimating the buying power of the over-50 generation, according to a new report by the Fung Business Intelligence Centre.

The study, “A Booming Opportunity: Profiling from a Graying America,” finds that the aging Baby Boomers will continue to be a growing consumer market for the next 20 years.
Best Buy looks to thrive in e-commerce era

Wasn’t Best Buy supposed to be out of business by now? Instead, the company has shown itself to be one of the retail industry’s most resilient operators, achieving growth in the face of intense competition and deteriorating demand for once hot product categories like tablets.

Not that long ago Best Buy was at risk of becoming irrelevant, a victim of showrooming and competitive forces, headed for a fate similar to RadioShack. Instead, as evidenced by its fourth quarter results, Best Buy is practically thriving against some still challenging circumstances.
Gordman's reports 10th straight comp decline

Off-price retailer Gordmans Stores Inc. on Friday reported a decline in same store sales for the 10th straight quarter.

Gordmans said fourth-quarter net income was $2.3 million, or 12 cents a share, down from $2.7 million, or 14 cents as share, a year earlier. Sales at stores open at least one year fell 2.7%. Net sales rose 2% to $204 million.
NY & Co. posts loss, will close stores

Deep holiday discounts and the West Coast port dispute hurt profits at New York & Company Inc. during the fourth quarter.
Tiffany not so sparkling in fourth quarter

A strengthening dollar hurt Tiffany & Co. a lot more than Wall Street was expecting in the fourth quarter, as the upscale jeweler reported a surprising sales decline.