Data & Analytics

A 19% fourth-quarter same-store sales decline and a steep decline in profitability prompted RadioShack to announce the closure of 1,100 stores while CEO Joseph Magnacca maintained the retailer’s brand equity remains strong and a profitability plan is in place.

The nation’s leading home improvement retailer is no stranger to e-commerce, but its efforts to offer a more robust omnichannel experience took a major step forward recently with the opening of the company’s first direct fulfillment center.

ECRM compared retail circular advertising in February 2013 versus February 2014 and noted trends occurring across top retail chains. The home improvement retailers have continued to reverse trends from 2013. Home Depot doubled its page count and slightly decreased ads per page, leading to longer, slightly less dense circulars. Despite this, Home Depot still ran less than a quarter of the number of pages that Lowe’s ran, largely due to Lowe’s running three circulars to Home Depot’s one.

Home appliance and consumer electronics manufacturer Haier America has chosen the northern New Jersey town of Wayne as the location of its new 56,000-sq.-ft. U.S. headquarters.

The new facility will be home to 200 employees, training centers, customer service operations and a product showroom where retailers can see new products and concepts. Renovations are currently underway on a building at 1800 Valley Road in Wayne, N.J., that will replace the company’s current office at 1356 Broadway in Manhattan this fall.

In much the same way that warehouse club operators offer exclusive benefits to members so they upgrade to premium levels, Amazon continues to enrich offerings available to Prime members who pay an annual fee.

Village Super Market, which operates a chain of 29 supermarkets under the ShopRite name in New Jersey, Maryland and eastern Pennsylvania, saw net income fall 69% during the second quarter, compared to the same period in the prior year, driven in part by flat same-store sales.

New York -- Dick’s Sporting Goods Inc. has accused Mitchell Modell, CEO of Modell’s Sporting Goods, of disguising himself as a Dick’s executive to illegally obtain confidential business information, The Record reported.

Suffern, N.Y. -- Ascena Retail Group, the operator of Lane Bryant, Justice and Dress Barn stores, reported second-quarter profit of $31.9 million, down from $47.2 million in the year-ago period. Looking ahead, the company reduced its full-year adjusted earnings guidance to a range of $1.00 to $1.05 per share from its previous guidance range of $1.10 to $1.15 per share.

Sales increased to $1.27 billion from $1.24 billion last year. Same-store sales were flat.

Tokyo – Mt. Gox, the Japan-based global bitcoin platform which unexpectedly went offline on Feb. 25, 2014, has filed for bankruptcy and publicly stated that hackers may have stolen as much as $500 million worth of bitcoins from the company and its users.

By Jeff Weidauer, VP of Marketing and Strategy, Vestcom International

Webster defines technology as “the application of scientific knowledge for practical purposes, especially in industry.” Put another way, technology is the use of knowledge that solves problems in a practical manner. It’s important to understand that, because when it comes to the concept of retail technology, history shows that too often the solution becomes a hammer looking for a nail.