Data & Analytics

Best Buy withstood merchandising related disruptions during the second quarter to achieve on plan sales results and gain momentum heading into the back half of the year.

Domestic revenue of $7.81 billion increased 0.1% versus last year. This increase was primarily driven by the revenue from 57 net new Best Buy Mobile stand-alone stores that were opened predominantly in the third and fourth quarters of fiscal year 2013, partially offset by the comparable store sales decline.

Worse than expected second quarter sales results at Dick’s Sporting Goods sparked new consumer spending concerns and prompted the company to lower its full year profit forecast.

Dicks said sales for the quarter ended August 3, increased 6.6% to $1.5 billion, however same store sales fell 0.4%, versus a planned 2% to 3% increase, when adjusted for a 53rd week in 2012. Profits for the period totaled $84.2 million, or 67 cents a share, compared to $53.7 million, or 43 cents a share.

Barnes & Noble’s founder, chairman and largest shareholder, Leonard Riggio, is calling off his offer to buy the company’s retail business, following a worse-than-expected net loss of $87 million for the first quarter, compared to a loss of $39.8 million in the year-ago period. 

LOUISVILLE, Ky. — GE is leveraging social media as part of its Reimagining Home brand campaign, and holding a contest on its Tumblr page.

The brand is inviting consumers to submit their best cooking failure story to its Cooking Fail Redemption Tumblr page for a chance at redemption at GE’s headquarters, where the winner will re-create the same dish under the guidance of Chef Jeffrey Saad. Saad hosts United Tastes of America on the Cooking Channel. 

Epicor Software Corporation, a business software developer, has entered into a partnership with CyberM Information Technology Limited to resell Epicor retail technology solutions and provide in-country implementation and support services within the Asia Pacific region. 

Under the terms of the agreement, CyberM will provide sales, services and support to assist local retailers and meet the globalization requirements of multinational retailers looking to expand into APAC.

SIDNEY, Neb. — Cabela’s Inc. announced that its Cabela’s Credit Card Master Note Trust successfully completed the sale of $350 million of Asset-Backed Notes, Series 2013-II.

PHILADELPHIA — Urban Outfitters’ second-quarter net income jumped to $76 million for the three months ended July 31, 2013.

Total company net sales for the second quarter increased 12% to a record $759 million. Same—store sales, including the company’s direct-to-consumer channel, increased 9%.

Comparable retail segment net sales increased 38% at Free People, 9% at Anthropologie and 5% at Urban Outfitters. Wholesale segment net sales rose 17%.

New York -- Saks Inc. on Monday reported a worse than expected second-quarter loss amid disappointing sales of shoes and handbags. 

Saks, which last month reached a deal to be acquired by Canada's Hudson's Bay Co., had a net loss of $19.6 million for the quarter ended Aug. 3, compared with a net loss of $12.3 million a year earlier.

Overall sales rose 0.5% to $707.8 million for the quarter. Same-store sales rose 1.5%, below the 4.5% increase analysts had expected.

Los Angeles -- A new survey by PriceGrabber confirms that consumers are determined to think frugally when shopping for back-to-school this year, with 57% of respondents saying they will attempt to buy more items that are "on sale," while 42% say they will comparison shop for the best price. 

Staten Island, N.Y. -- The Shoe Gallery has stepped up inventory control with the help of Celerant Technology Corp. The chain has been using Celerant’s real-time, retail management system, Command Retail, to manage all areas of its retail operation for the past seven years. 

It is also using the supplier’s Style Matrix tool, a three-dimensional graphical representation of all the SKUs by size, width, and color, to improve operational efficiency.