News

Report: Best Buy will care for your Apple devices
Minneapolis – First Best Buy became the first national retailer, other than Apple Stores, where customers can buy the Apple Watch. Now Best Buy will reportedly become the first national retailer outside of Apple Stores to offer the Apple Care warranty program.
Tech Guest Viewpoint: How to Get Your RFID Program Rolling
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.

Completed merger creates third-largest U.S. specialty retailer

Mahwah, N.J. — Ann Inc. is no more.

Ascena Retail Group Inc. has completed its acquisition of Ann Inc., formerly called Ann Taylor. Shares of Ann Inc. will be delisted from the NYSE and trading ceased at the close of business on Friday, August 21st.
Foot Locker scores big with Q2 profit, sales

New York – Foot Locker Inc. scored big in the second quarter of fiscal 2015 with profit and sales that exceeded Wall Street expectations. Net income was $119 million, a 33% increase from $92 million the same period the prior year. Total sales climbed 3% to $1.69 billion from $1.64 billion. Same-store sales grew 9.6%. Falling selling, general and administrative (SG&A) expenses aided profit growth, while foreign currency fluctuation had a negative impact on sales growth.
Hibbett Sports misses Street in Q2

Birmingham, Ala. – Hibbett Sports Inc. missed Wall Street expectations for profit and sales in the second quarter of fiscal 2015. Net income fell 20% to $8.4 million from $7 million the same quarter the prior fiscal year. An increase in store operating, selling and administrative expenses helped cut profit. Net sales rose 3% to $199.26 million from $193.92 million. Same-store sales dropped 1.1%.
Lands’ End launches omnichannel fall campaign

Dodgeville, Wis. — Lands’ End has announced a new omnichannel fall marketing campaign which includes a catalog strategy, complementary digital initiatives and an overall brand advertising campaign.

Lands’ End will kick off the new strategy with the introduction of different initiatives including two new lifestyle campaigns, Quality.Time and A Closer Look at the Land. Each will be featured online and in catalog format.
Report: Wal-Mart rearranges merchandising responsibilities

Bentonville, Ark. — Wal-Mart Stores Inc. is rearranging how responsibilities are handled by its merchandising executives. According to the Wall Street Journal, an internal company memo indicates that among the changes is a promotion to chief merchandising and marketing officer for Wal-Mart China for Marybeth Hays, currently serving as senior VP of home for Wal-Mart U.S.

Hays will replace John Furner in that role. Furner will return to the U.S. in an unspecified position.
Ross Stores beats Street in Q2

Dublin, Calif. — Ross Stores Inc. surpassed Wall Street expectations for profit and revenue in a successful second quarter of fiscal 2015. Net earnings rose 8% to $259 million from $240 million the same quarter the prior fiscal year.

Sales rose 9% to $2.97 billion from $2.73 billion, with same-store sales up 4%
American Eagle marketing head steps down

Pittsburgh — Michael Leedy, chief marketing officer of American Eagle Outfitters Inc., will step down from his position effective Sept. 15, 2015. The company has an active search for a successor underway.

Leedy has committed to serve in an advisory role if needed to ensure a smooth transition. American Eagle did not comment on the reason for Leedy’s departure, and his LinkedIn profile still indicates he works there.
New York & Company maintains Q3 loss plans five new stores

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.
Gordmans shrinks Q3 loss, will open two stores

Omaha, Neb. — Gordmans Stores Inc. was able to reduce its net loss in the third quarter of fiscal 2015 as a result of gross margin improvements. Net loss totaled $3.03 million, compared to $3.19 million the same quarter a year earlier.

Net sales increased 2% to $143.4 million from $141 million Same-store sales dropped 1.6%, negatively impacted due to a sales tax holiday shift from July to August.

Gordmans intends to open two additional new stores in the third quarter of 2015 and close one store later this year when the lease term expires.
Tuesday Morning shrinks net loss in Q4

Dallas — Tuesday Morning reduced net loss to $4.2 million in the fourth quarter of fiscal 2015 from $7.4 million in the same period a year earlier. Reduced selling, general and administrative (SG&A) expenses helped the retailer cut its loss.

Net sales increased 0.2% to $213 from $212.6 million, impacted by the net closure of 41 stores in the current fiscal year. Same-store sales increased 3.6%, with negative impact from a reduced clearance program.