Store Systems

Demand for iPhone 6, big TVs and appliances surged at Best Buy in the first quarter, enabling the company to report a much-better-than expected same store sales increase.

Minneapolis – Domestic demand for large-screen TVs and mobile phones helped Best Buy Co Inc. beat Wall Street projections for profits and sales in the first quarter of fiscal 2016. Net earnings fell 72% to $129 million from $461 million a year earlier, largely due to corporate restructuring charges.

Nashville, Tenn. -- Epicor Software Corporation announced that teen apparel retailer Rue 21  has selected the Epicor QuantiSense Retail Business Intelligence suite to support enterprise-wide reporting and analytics across merchandising, store operations and digital retail.

rue21 has relied on the Epicor Retail technology suite for years, most recently to help support the company’s extensive growth into new markets and merchandise categories, including a junior plus size division, rue+, launched in 2014.
 

New York -- Swedish fast-fashion giant Hennes & Maurtiz AB (H&M) on Wednesday unwrapped its largest store in the world, in New York City’s Herald Square. The 63,000-sq.- store, which is located across from Macy’s, has a custom illuminated store front that wraps around 33rd Street, 34th Street and 6th Avenue. It is the retailer’s 13th store in New York City.

A month after being named America's favorite home improvement store, Ace Hardware reported record profit in the first quarter of 2015.

Framingham, Mass. -- Staples Inc. reported a 39% decline in first-quarter profit amid declining sales and store closures. The results came as the chain is waiting for regulatory approval of its proposed takeover of rival Office Depot.

Staples reported a profit of $59 million, down from $96 million a year earlier.

Revenue slid 6.9% to $5.3 billion. Online sales grew 3%.

Same-store fell 5% in the quarter. Store traffic was down 2%, and the average order size fell 3%.

Kohl’s is testing the off-price waters by opening a discount store in Cherry Hill, N.J., this summer called "Off Aisle by Kohl's," the company has confirmed.