News

L Brands’ same-store sales flat, lowers 2017 outlook
L Brands is preparing for steep losses in the near-future, specifically across its Victoria’s Secret brand. For the quarter ended January 28, 2017, net sales were $4.489 billion, an increase of 2% compared to $4.395 billion for the quarter ended January 30, 2016. The company’s net income was $631.7 million compared to $636 million last year.
Bartaco to make Texas debut at Trademark property
Bartaco, an expanding food and beverage concept that combines beer, fresh-squeezed juices, and yes, tacos, will debut in Texas at Trademark Property’s WestBend development in Fort Worth. The mixed-use facility just completed construction on its first phase, which includes office as well as retail space and aims to create a new hub of activity near the campus of Texas Christian University. It features new landscaping, gathering areas along the Trinity River and Trinity Trails, along with a rotating public art program.

Report: Sears slashes HQ jobs

On the heels of announcing a comprehensive restructuring plan, Sears eliminated 130 jobs at its corporate office on Thursday, Feb. 23. The layoffs, which are part of a $1 billion cost-cutting plan, were relayed in an email sent to corporate employees Thursday afternoon, according to Business Insider.
NYC gets its third Saks Fifth Avenue store — with a twist

Saks Fifth Avenue is giving New York City a new “boy’s club.” The chain’s first-ever Saks Downtown Men’s store is a stand-alone 16,000-sq.-ft. location dedicated to men’s categories. Featuring a strong focus on modern fashion, it carries more than 100 brands, including a dominant assortment of designer footwear and accessories. Located at 250 Vesey Street in lower Manhattan, the store also features an “experiential shopping environment.”
Online home decor retailer soars in Q4, beating Wall Street expectations

Wayfair credits innovation, increasing brand awareness and repeat customers for its strong fourth quarter growth. The home decor brand’s total net revenue for the fourth quarter ended December 31, 2016, rose 33.1% from last year to $984.6 million, topping analysts’ expectations for $975.32 million. The company’s gross profit was $238.6 million, or 24.2% of total net revenue.
Report: Majority of consumers use mobile to shop

The increasing use of smartphones has drastically impacted the consumer's path to purchase — and the momentum continues. Most online U.S. consumers (60%) now use mobile technology for shopping, and two thirds (67%) searched online for additional product information, according to “The Consumer Technology Association's (CTA) Path to Purchase Using Mobile Devices Market Research report.”
Top 10 Retail Predictions for 2017

1. The import tax wild card. The Trump administration has floated a new tax policy that would apply a 20% tax on imports from Mexico, as well as other countries with which the United States has a trade deficit. If implemented, this tax could have a disproportionally large negative impact on merchants that export much of the goods they sell — i.e., almost all of our readers.
Lifestyle specialty retailer readies for EMV

Pacific Sunwear is one step closer to more secure in-store payments. PacSun is working with BTM Global to implement and integrate EMV (Europay, Mastercard, Visa) software that will support the global stand-ard for credit card and debit card payments. The implementation will roll out across more than 494 stores in all 50 states and Puerto Rico, a move that will strengthen payment security and protect its customers’ data.
Kohl’s Q4 profits fall, but beat forecasts

Despite strong online volume, low store traffic translated into weak fourth quarter sales for Kohl’s. For the quarter ended January 28, 2017, the department store chain’s profits fell 15% to $252 million, or $1.44 per share, from $296 million for the same period last year. Meanwhile, revenue dropped 2.8% to $6.21 billion, from $6.39 billion in 2015. Yet, the company still exceeded analysts’ expectations of revenue hitting $6.2 billion, or $1.32 per share.
NRF: Consumers are tightly holding on to their tax refunds

Retailers shouldn’t expect consumer tax refunds to equate into a sales boom anytime soon. A record low number of Americans will spend their tax returns this year, while the second-highest number on record will put the money into savings, according to the annual tax return survey released by the National Retail Federation and Prosper Insights & Analytics. The study, which is based on responses from 7,609 consumers, was conducted Feb. 1 - Feb. 8.
Report: Jet.com shoppers get a taste of Walmart’s private label lines

Walmart’s house brands are getting a new audience — millennials. Jet.com, which caters to the cost-conscious Gen Y segment, has started offering private label brands — Great Value, Equate and Sam’s Choice — from its parent company, Walmart, according to Bloomberg.
HSN’s sluggish fourth quarter still beats analyst estimates

A disruptive retail climate and underperforming categories took their toll on HSN during the fourth quarter. HSN’s net income was $43.5 million for the quarter, or 82 cents per share, ended December 31, 2016, compared to $59.7 million for the same period last year. This exceeded analysts’ estimates of 74 cents per share.