Data & Analytics

Chicago — A report released by Chicago-based Jones Lang LaSalle found that the retail sector is edging toward recovery driven by growth in job market, gains in corporate profits and improvements in credit markets.

According to Jones Lang LaSalle’s North America Mid-Year Retail Outlook, the environment is still not without risk as rising fuel costs and a continued weak housing market, coupled with an increasingly volatile global geopolitical climate, continue to slow retail recovery as consumers remain tentatively cautious. 

INDIANAPOLIS —  Hhgregg has reported net income of $14.6 million for the fourth quarter ended March 31, or net income per diluted share of 36 cents, compared with net income of $10 million, or 25 cents per diluted share, for the comparable prior year period. Net sales for the period increased 21.5% to $507 million from $417 million, while same-store sales were down 10.8%

Redwood Shores, Calif. — Oracle on Thursday unveiled a prebuilt business intelligence application for retailers.

The new application, Oracle Retail Merchandising Analytics, uses Oracle Business Intelligence applications to access and analyze data from multiple applications such as financial and workforce management, customer relationship management (CRM) and retail operations.

Los Angeles — Guess Inc. beat first-quarter revenue expectations, even though it also reported a 15% decline in net income. The company said net income fell to $42.7 million in the quarter ended April 30, compared with $50.3 million in the year-ago period.

Total revenue increased 9.8% to $592.2 million, beating analysts' predictions of $567.7 million. Strength in Asia, where revenue rose 24%, drove the increase. Revenue in Europe also helped, rising 12%. Revenue in North America was the weakest, up 5%.

Same-store sales fell 3.1% in U.S. dollars.

The warehouse club channel remains one of the hottest segments in retail as evidenced by the solid third-quarter results Costco reported earlier this week on the heels of the equally solid first-quarter results Sam’s Club reported last week.

Although the company’s operate on different fiscal years, the quarterly periods are comparable with only one week separating Costco’s May 8 third-quarter end date from Sam’s Club’s April 30 end date.

By Ron Harwood, [email protected]

We have all seen the sales people come through the office claiming to have the answer to our lighting energy and efficacy concerns. Virtually every “pitch” will deal with LEDs, and only a rare few will be touting the older fluorescent and the new, almost miniature metal halide lamps.

SECAUCUS, N.J. — Panasonic Corporation of North America has appointed Betty Noonan to lead its marketing and branding functions. Noonan, who was most recently VP and director of Kodak's worldwide consumer marketing operations, will be responsible for integrating the company's marketing and enhancing the Panasonic brand.  

Indianapolis — Electronics and appliances retailer hhgregg Inc. said Thursday that its profit leaped 46% in its fiscal 4Q, to $14.6 million from $10 million in the year-ago period. However, same-store sales tumbled nearly 11% in the company, and the company said it will slow the pace at which it opens new stores in the next fiscal year. Previously, it expected to open 35 to 45 stores in the next year, but now cut the upper range to 40 stores.