Data & Analytics

San Francisco -- Gap Inc.’s sales slump continued in August across all its brands with one notable exception. The retailer said that it wasn’t helped by a late Labor Day, with the holiday falling in September this year, as opposed to August last year.

Gap's global same-store sales fell 8%, compared to a 6% decrease for the year prior, while Banana Republic had a 11% drop compared to 6% last year. Old Navy continued its winning streak, with a same-store sales rose 6% on top of a 2% increase for the prior year.

Back in September 2013, I wrote a TechBytes column about how millennials aren’t that different from prior young generations in their interests and needs. I have since realized there are a few unique millennial social trends which reflect specific generational consumer attributes. Using leading-edge technology, retailers can effectively meet the generational needs of this increasingly important customer demographic.

Rock is Dead

Menlo Park, Calif. – As eBay celebrates its 20th anniversary, a new competitor in the online trading market is emerging.

According to the Wall Street Journal, Facebook is making it easier for consumers to use its Groups feature to buy, sell and/or trade goods.

Facebook began allowing users to create “for sale” groups late in 2014. However, the social media giant is no longer requiring creators of for sale groups to obtain its official approval before launching them.

Norwalk, Conn. – Online pricing provider The Priceline Group is digging into the food service market.

Priceline has acquired AS Digital, an Australian provider of restaurant table and reservation management solutions.

Nashville, Tenn. – Despite a late back to school season, Genesco Inc.’s profit and revenue beat the Street in the second quarter, helped by the strong performance of its Lids headgear division.

Genesco reported net earnings of $7.52 million, up 60% from $4.69 million the same period a year earlier and beyond Wall Street predictions. Improve pretax earnings, combined with lower income tax expense, perked up profit at Genesco Inc.

Net sales rose 6% to $655.52 million, from $615.47 million.

Fueled in part by increased pharmacy sales, Fred’s reported Thursday that its August sales hit $165.6 million this year, up 12% over August 2014.

Sam's Club is taking on Costco in the auto buying program business by teaming up with one of the biggest names in car-shopping in an effort to boost its auto business.

The all-new Sam's Club Auto Buying Program will now be powered by TrueCar, Sam's Club announced Thursday. Sams Club says members will have access to more than 10,000 TrueCar Certified Dealers nationwide, more than three times the nearest competitor in the warehouse club channel (i.e., Costco).

Fast-growing online furnishings retailer Wayfair.com plans to host a “Shark Tank-like” business competition for entrepreneurs.

Winners of the "Kitchen Cabinet" contest will receive a $2,500 home office makeover and a business consultation from the home furnishings and decor e-tailer.

Wayfair said the event will take place Oct. 2 and its Heart Home conference, a three-day gathering of bloggers, designers, and other entrepreneurs, at the Boston Copley Marriott. Participants must enter by Sept. 15.