Data & Analytics

CIT Group Inc., a leading provider of financing and advisory services to small businesses and middle market companies, has appointed Randall Chesler as president of CIT Bank, its U.S. commercial bank subsidiary.

He will be based in Salt Lake City, Utah, and report to CIT Bank’s board of directors. Chesler is currently vice chairman of CIT Bank and previously served as president of consumer finance and small business lending at CIT. He succeeds John Taylor who is leaving the company to pursue other opportunities and will assist in the transition.

While the mobile phone serves as a lens to a personalized store experience, moving forward, wearable technologies like Google Glass will take in-store personalization to the next level, Steve Arthur, head of retail industry for Google, told attendees at  the Retailer Roundtable event, sponsored by digital gifting platform provider CashStar. Arthur cautioned that retailers must realize they must deliver consumers the experience they need, rather than what they want, and be prepared for a post-PC world. 

Warren, Mich. -- Art Van Furniture plans to convert 31 Mattress World locations in Michigan and Indianapolis to its signature Art Van PureSleep brand, which is known its diagnostic system that determines the exact mattress and pillow best suited for each individual's comfort. 

The conversion, which will begin August 1st, will be completed by the end of 2013, and will result in a total of 76 Art Van PureSleep stores.

The top U.S. retailers’ web sites are barely keeping up with customers, according to a report by Radware, a provider of application delivery and application security solutions for virtual and cloud data centers. Now in its fifth edition, the “State of the Union: Ecommerce Page Speed & Web Performance, Summer 2013” study reveals that websites for the top 500 U.S. retailers continue to slow down, a 13.7% drop since spring 2012.

New York -- Five individuals have been charged with running a sophisticated, worldwide hacking organization that the U.S. Department of Justice called the largest hacking and data breach scheme ever prosecuted in the United States. The victims in the scheme included such retailers as J.C. Penney, 7-Eleven Inc., Carrefour and Hannaford Brothers Co. 

San Francisco -- PB Teen, a division of Williams-Sonoma, on July 27 will open its first store in Orange County, Calif., at South Coast Plaza in Costa Mesa.

The store will be anchored around a complimentary PBteen Design Lab, where teens and their parents can engage with the brand and its products by digitally creating a personalized room on a computer monitor. Using drag and drop technology, teens can experiment with different room configurations and color combinations and quickly see their designs come to life on a television screen overhead. 

LOS ANGELES — With the back-to-school season well underway, a new spending forecast from e-commerce platform provider PriceGrabber conflicts with other recent studies and highlights the danger of placing much credence in what shoppers say about their spending intentions.

NEW YORK — Colgate-Palmolive saw a boost in second-quarter net sales as its global market share in toothpaste and manual toothbrushes hit record highs year-to-date.

Net sales for the quarter totaled $4.35 billion, up 2% compared with the year-ago period. 

Net income, which included charges related to its restructuring program, totaled $561 million, or 60 cents per diluted share, for the quarter. This compares with net income of $627 million, or 65 cents per diluted share, in the year-ago period.

SPRINGFIELD, Mo. — O’Reilly Automotive achieved a record quarterly gross margin of 50.8% for the second quarter ended June 30, primarily driven by improvements in acquisition costs, product mix and pricing management, according to president and CEO Greg Henslee.

The automotive aftermarket industry retailer saw sales for the quarter rise to $1.71 billion, a 10% increase from $1.56 billion for the same period one year ago. Gross profit for the second quarter was $872 million, a 12% increase from $780 million for the same period one year ago. 

Increased fulfillment costs and other expense pressures caused Amazon.com to report a second quarter loss of $7 million even though sales increased 22% to $15.7 billion.

The company said its sales would have increased 25% were it not for a $392 million headwind related to unfavorable foreign exchange rates. The net loss of $7 million, or two cents a share, was a reversal from the same period the prior year when a profit of $7 million, or one cent a share, was reported.