News

Sales were up in the third quarter, but Lowe’s Companies’ financial performance impressed neither its investors nor its CEO.   The home improvement retailer’s net income dropped dramatically, owing to $462 million non-cash pre-tax charges. Net income declined to $379 million, compared to $736 million in the same quarter last year.  

As more shoppers become victims of “porch piracy,” they are changing they way they shop — and receive — online orders.   This message was delivered in a new study from Vivint Smart Home, a smart home services provider in North America. The study, which is based on 2,000 people, explores the far-reaching impact of the porch piracy phenomenon — an issue that has affected 23 million Americans, according to a separate study from Princeton Survey Research Associates International.  

It’s an odd partnership — at least at first glance.   Neiman Marcus has entered into a partnership with Rent the Runway, which lets shoppers rent pricey designer dresses as opposed to buying them (at a luxe store like Neiman Marcus).       

The Mall at Prince Georges in suburban Washington, D.C. will welcome a 16,000-sq.-ft. DSW location and an 11,000-sq.-ft. ULTA in second quarter 2017. The signings are part of PREIT’s ongoing strategic plan to re-outfit its centers with “in-demand” retailers.   “The property has just begun its transformation into an elevated, vibrant shopping and dining destination commensurate with the development that has occurred in the surrounding area,” said Joseph F. Coradino, CEO of PREIT.  

The TJX Companies topped earnings and sales forecasts for its third quarter as deal-loving consumers flocked to its stores.   The off-price apparel and home goods retailer reported that net sales for its third quarter, ended Oct. 29, rose 7% to $8.3 billion, on top of a 5% increase last year.    

Absolunet has released its list of the top 10 e-commerce trends that will impact North American retailers in 2017. The e-commerce agency noted that the impact of the trends will be felt online and in stores, and by retailers and consumers alike.     Here is Absolunet’s top 10 list:    1. The end of Black Friday and Cyber Monday: Tech–savvy merchants are replacing Black Friday and Cyber Monday with Cyber November;

Dick's Sporting Goods Inc. on Tuesday reported better-than-expected sales and earnings for its fiscal third quarter but tempered its good news with a weak outlook for the fourth quarter.    Dick’s posted net income of $48.9 million for the quarter ended Oct. 31, up from $47.2 million in the year-ago period.   On a per-share basis, the Coraopolis, Pennsylvania-based company said it had profit of 44 cents. Earnings, adjusted for non-recurring costs, were 48 cents per share.  

Here’s a daunting statistic: The value of merchandise ordered via same-day delivery is expected to exceed $4 billion by 2018 — it was $100 million in 2014. The big reason for this jump is the grueling pace set by Amazon Prime Now, which offers two-hour delivery for consumers in 27 US markets and counting.