Data & Analytics

UNION, N.J. — Bed Bath & Beyond's aggressive promotional strategy appears to be paying off as the company reported another quarter of strong sales. The company reported that net sales for the fiscal second quarter of 2011 were approximately $2.314 billion, an increase of approximately 8.3% from net sales of approximately $2.137 billion reported in the fiscal second quarter of 2010. Comparable-store sales in the fiscal second quarter of 2011 increased by approximately 5.6%, compared with an increase of approximately 7.4% in last year's fiscal second quarter.

WASHINGTON — The National Retail Federation said it welcomed legislation that would require the State Department to speed up the visa application process for citizens from three key countries, saying the move would make it easier for tourists and business travelers to spend money in U.S. stores.

SACRAMENTO, Calif. — Walmart is taking its commitment to renewable energy to new levels in California. The chain announced plans to install solar panels on up to 60 additional stores in the Golden State. The initiative, done in partnership with SolarCity, expands the company’s solar portfolio to more than 75% of its locations in California.

By Josh Green, CEO, Panjiva

New York City -- Facebook will announce that it is adding a “Want” button to its wall during its developers conference later this week, according to techcrunch.com.

The launch of the new social commerce button will be accompanied by the addition of several other buttons, including “Read,” “Listened” or “Watched”  various pieces of content.
 

New York City -- American Express announced it is launching American Express Merchant Financing, a program that provides qualified merchants with quick and simple access to cash for their business needs. The launch comes as small- and medium-sized businesses (SMBs) struggle with access to capital in today’s tight credit economy.

Camp Hill, Pa. -- Rite Aid Corp. reported Thursday that it narrowed its loss in the quarter ended Aug. 27 to $94.7 million, from $199.3 million in the year earlier period.

Revenue rose 1.8% in the quarter to $6.3 billion, and same-store sales – as previously reported – increased 2.2%.

The drugstore retailer has modified its outlook, now expecting smaller losses for fiscal 2012 than originally anticipated.

Union N.J. -- Bed Bath & Beyond reported Thursday that net income for the quarter ended Aug. 27 rose 26% to $229.4 million, amid improved sales and contained costs. Sales for the quarter rose 8.3% to $2.3 billion, and same-store sales increased 5.6%.

NEW YORK — Teen retailer Aeropostale announced that it is expanded its reach to international consumers. Through a partnership with FiftyOne Global Ecommerce, consumers in more than 90 countries worldwide can now purchase directly from Aeropostale.com.

CONSHOHOCKEN, Pa. — Ikea demonstrated the retail industry's commitment to the environment and sustainability by taking part in Climate Week, which is taking place in New York City this week. Ikea U.S. president Mike Ward was part of a 6-person sustainability panel held at 7 World Trade Center on Sept 19. Others on the panel included NYC mayor Michael Bloomberg and former British prime minister Tony Blair.