Store Systems

Later this year, Target will begin rolling out a key program that will enhance inventory visibility and accuracy in a way that the chain store giant hopes will “work its magic in the background to provide people with a seamless, stress-free shopping experience,” as the announcement from its corporate blog stated back in May.

Hibbett Sports Inc. says a shift in back-to-school tax-free weekends was to blame for softness in same store sales in the second quarter.

The sporting goods retailer says net sales for the 13-week period ended Aug. 1 increased 2.8% to $199.3 million compared with $193.9 million for the 13-week period ended Aug. 2, 2014. Same store sales decreased 1.1%. Net income was $7 million compared with $8.4 million for the 13-week period ended Aug. 2, 2014. Earnings per diluted share totaled 28 cents, compared with 32 cents for the 13-week period ended Aug. 2, 2014.

New York — New York & Company Inc. maintained an essentially flat net loss in the third quarter of fiscal 2015, even as other financial metrics improved. The retailer reported net loss of $146 million, compared to $147 million the same period the previous fiscal year.

Increased selling, general and administrative expenses, including charges related to headcount reductions, consulting fees and legal and moving expenses that were part of an ongoing business re-engineering project, helped keep New York & Company in the red.

Stamford, Conn. — Even with the increasing influence of digital technology on retail habits, the in-store experience is important in all major purchase decisions, according to a new survey. The new Fourth Annual Major Consumer Purchase Study from Synchrony Financial shows that an overwhelming majority of shoppers buy in person.

At the same time, shoppers continue to carefully research major purchases of $500 or more, including financing options. While 80% of major purchase customers start with online research, most finish the deal inside a store.

Dallas — Neiman Marcus Group is giving customers a unique perspective in the dressing room. According to VentureBeat, three Neiman Marcus stores in Dallas, San Francisco and Walnut Creek, California are piloting the MemoryMirror solution from Palo Alto-based startup Memomi.

Albany, N.Y. — The global POS terminal market is set to boom in the next five years. On the basis of revenue, the global POS terminal market stood at $36.86 billion in 2013, and it is expected to demonstrate an impressive 11.6% compound annual growth rate during the period of 2014-2020, according to a new report.   

Nashville, Tenn. — Even as net sales climbed, Kirlkland’s Inc. missed Wall Street expectations with growing net loss in the second quarter of fiscal 2015. Increases in operating expenses and depreciation helped more than double net loss to $2.3 million from $1.1 million the same quarter a year earlier.

Net sales rose 10% to $233.6 million from $211.7 million. Same-store sales, including e-commerce, rose 4.8%.

If you’ve got a physical shop in the U.S., chances are you’re well acquainted with the upcoming deadline for getting an EMV card reader: October 1, 2015. And you’re probably also very aware that if you don’t have this device and complete all your compliance steps, you’ll be on the hook for all the painful chargebacks and related costs that come with fraudulent credit card transactions.