News

Chicago -- Retailers still have time to capitalize on what is turning out to be a late back-to-school shopping, according to a just-released study.

Minneapolis -- Target Corp. is reaching out to fashionistas with a splashly — and digital-savvy — insert in the most important issue of the world’s most influential fashion magazine.

New York -- It’s been a rough week for department stores.

Kohl’s Corp. joined Macy’s and Dillard’s this week in reporting disappointing earnings and weak same-store sales growth.

Kohl’s posted a profit of $130 million in the second quarter ended Aug. 1, down from $232 million in the prior-year quarter.

New York -- Move over Apple and Google — and make way for Samsung.

Samsung Electronics Co. on Thursday announced Samsung Pay, a mobile payment service that will let customers pay with their phones at nearly any credit-card terminal. The new system will launch in Korea on Aug. 20 and in the United States on Sept. 28.

New York -- A report suggests that U.S. consumers aren’t letting the summer doldrums or world unrest get in the way of shopping — although not all retailers are benefiting.

Retail sales rose 0.6% in July month, according to the U.S. Commerce Department. Excluding sales of automobiles, sales were up 0.4%. Eleven of 13 major categories showed increases.

The Commerce Department also revised June's 0.3% decline in retail sales to an unchanged reading.

Little Rock, Ark. -- Dillard’s Inc. profit declined 13.3% in the second quarter, but it still came in better than analysts had expected.

Growth in shoes and some apparel categories helped Dillard’s post a feeble second quarter same-store sale increase, but it was too little for the department store retailer to avoid the sharp decline in profitability. The retailer’s profit for the quarter ending Aug. 1 was $29.9 million, down from $34.5 million in the year-ago period.

New York -- A strong majority of Americans (72%) - crossing regional, political, generational, gender and income lines – believe the current federal minimum wage of $7.25 per hour is lower than it should be. However, while Americans clearly feel minimum wage should be higher, exactly how high remains a more contentious subject.

Kohl’s has joined other major retailers this week reporting disappointing earnings and anemic same store sales growth.

The Wisconsin-based retailer posted a profit of $130 million in the second quarter ended Aug. 1, below the $232 million in the prior-year quarter. Earnings per share were 66 cents, compared with $1.13 in the second quarter of 2014. Same store sales grew a measly 0.1%. Overall revenue increased by just 0.6%, to $4.27 billion for the quarter.

Kmart is taking a comedic approach to its back-to-school promotions this year with an eccentric ad campaign.

The retailer has rolled out an ad that touts back-to-school season not being about students, but about parents getting ready to get their free time back.

PayPal has revised its disclosure practices for material information in a way that could serve as a blueprint for retailers in the wake of a major insider trading bust that took down 32 hackers and brokers who allegedly reaped $100 million during a five year scheme to steal press releases.