Data & Analytics

New York -- Just under half of retail firms expect industry expansion, and over two-thirds will consider seeking additional financing in the coming year. And 45% believe the sector will expand in the year ahead. That’s according to a survey by GE Capital of C-suite executives at middle market companies (ranging from $10 million to less than $1 billion in sales).

Performance in the middle-market retail sector was positive over the past year, the survey found, with 75% of firms reporting improved year-over-year financial performance.

The Mother's Day holiday drove up traffic at L Brands, which reported a surge in same store sales for May.

The company reported that net sales increased 5% to $799.1 million for the four weeks ended May 30, compared to net sales of $763.6 million for the four weeks ended May 31, 2014. Same store sales for the four weeks ended May 30, increased 5%.

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.

 

Same store sales increased 2.1% at Rite Aid in May thanks in large part to growth in the retailer's pharmacy division.

Atlanta - Online shoppers frequently change retail channels during their shopping experience. According to the new Pulse of the Online Shopper study from UPS and comScore, better prices (57%) and selection (49%) are the top reasons for purchasing online after researching an item in-store.

Nearly half (48%) of online shoppers have used ship to store in the past year, and 45% of those consumers made an additional purchase when picking up their online purchase.

Lands’ End Inc. reported profit and sales declines in the first quarter as the retailer grappled with West Coast port delays and headwinds from foreign exchange rates.

New York – Top management continues to leave Lumber Liquidators Holdings Inc. in the wake of accusations the retailer sold Chinese hardwood laminate products that had illegal levels of formaldehyde. Ray Cotton, chief compliance officer of Lumber Liquidators, has resigned from the company.

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%.