Data & Analytics

The recent global economic downturn has left its mark on the retail industry and marketplace. As global companies emerge from the recession, CXOs of various Fortune 1000 companies across the globe representing the consumer-packaged goods, retail, quick service restaurants and other sectors have passionately articulated a common set of needs:  to leverage their scale, to be truly global and to use their information as an asset. These needs have led to an increased interest in a global shared services model.

By Scott Balestrier & David Des Roches, BDO.com 
 
Proactively managing taxes should always be top of mind for businesses at year-end. Recent Congressional actions and extension of the Bush-era tax cuts are serving as this year’s reminder. As many retailers seem to be returning to profitability, there are several tax and accounting opportunities that should be considered.

Connecting Northwest Arkansas earlier this month published the results of a survey of Walmart suppliers that revealed some interesting insights and this week spawned a few inaccurate headlines from various news organizations. The most notable was a headline on a Bloomberg story, which said Walmart suppliers lacked confidence in company CEO Mike Duke and that senior managers were explaining the company’s strategy. That’s a powerful statement and would be quite an indictment of the company’s chief executive and senior leadership team, if it were true.

Less than desirable economic conditions don’t seem to faze Bed Bath & Beyond, which again this week reported another quarter of strong financial results. The company said its earnings per share for the third-quarter period ended Nov. 27 increased 28% to 74 cents, handily exceeding analysts’ consensus estimate of 66 cents. Sales increased roughly 11% to $2.2 billion and same store sales advanced 7% on top of a prior-year comp increase of 7.3%.

ST. PETERSBURG, Fla.  - HSN announced that it has launched a new app for the Apple iPad. With the launch, HSN said it will be the only retailer offering a video-centric iPad experience that allows consumers to watch both live streaming video and 15 channels of archived video, as well as the ability to program their own channels based on their preferences.

New York City -- The Finish Line said Tuesday that its fiscal third-quarter net income fell 37% as a one-time leg up from a tax windfall last year was not repeated.

Net income in the three months to Nov. 27 hit $4.1 million, from $6.6 million a year ago. Last year's tax benefit amounted to $6.4 million. Revenue rose 9% to $260.9 million, from $240.1 million. Same-store sales were up 4.5% from Nov. 28 through Dec. 19, compared with the same period a year ago.

The results were better than analysts’ estimates.

Maumelle, Ark. -- Dillard’s announced it will locate an Internet fulfillment center in Maumelle, Ark., to support the continuing growth of its online business. The company has signed an agreement to purchase the former Target distribution facility and will create over 300 new jobs in the Central Arkansas area.

Deerfield, Ill. -- Walgreens said Wednesday that its profit jumped 18.8% in the fiscal first quarter on a mix of better pricing and generic drug sales.

The chain said its profit rose to $580 million, exceeding estimates. Revenue rose 6% to $17.34 billion. The company's 2011 fiscal first quarter ended Nov. 30.

Overall same-store sale sales rose 0.8% during the quarter, with front-end same-store sales rising 0.4% and pharmacy same-store sales rising 0.9%.