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Out-of-stock drives customers out the store
CHICAGO — Heading into Black Friday weekend, retailers would be wise to make sure their shelves are fully stocked. According to a study by Harris Interactive on behalf of Galleria Retail Technology Solutions, a provider of retail and category optimization solutions, nearly 70% of U.S. adults would avoid shopping at a retail store if they encountered empty shelves.
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No dog days for PetSmart in Q3
PHOENIX — Even in a tough economy, consumers are reluctant to cut back spending on their pets, as was made clear by PetSmart's whopping 32% growth in earnings and strong sales performance during the third quarter.
The retailer reported reported earnings of 50 cents per share, up 32% compared with 38 cents per share in the third quarter of 2010. Net income totaled $56 million in the third quarter of 2011, compared with $46 million in the third quarter of 2010.