News

Burlington Stores Inc. is upping its guidance for several key fiscal metrics in the second quarter of fiscal 2016.   The retailer now expects second quarter adjusted net income per share to total $0.28 to $.30, up from a previously announced range of $0.20-$0.23 per share and compared to $0.19 in the same period the previous year. Burlington Stores also currently anticipates adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) in the range of $88 to $90 million, compared to the prior year figure of $75.4 million.

Just a few short years ago, many people predicted that physical stores would all be replaced by pure-play e-commerce sites.  By now, they thought, brick-and-mortar would be a thing of the past. Though we’ve seen some physical stores close, we’ve also seen some traditionally online retailers open storefronts. The demise of the physical store was greatly overestimated.   

Ross Stores remains among the nation’s most expansion-minded retailers.     The company  is opening a total of 24 Ross Dress for Less stores and seven dd's Discounts stores across 15 different states in June and July. The openings are part of the company's 2016 expansion plans, which call for the opening of approximately 70 Ross stores and 20 dd's Discounts locations throughout the year.   

By Dan Berthiaume Walmart Canada has begun following through with a June announcement it would gradually stop accepting Visa payments. On June 11, the retailer issued a release stating it would stop accepting Visa payments across Canada, starting July 18 at stores in Thunder Bay, Ontario. Multiple media reports indicate that as of July 18, Walmart Canada is no longer taking payments via Visa-branded cards at three stores in Thunder Bay.

Ace Hardware Corp. is helping independent members of its retail cooperative manage increasingly complex labor regulations.   The hardware chain is leveraging the cloud-based Kronos Workforce Central suite of workforce management solutions. In addition to better management of rising labor law compliance requirements, Ace expects the deployment to also enable improvement of store productivity and increase of associate engagement.  

Walmart Canada has begun following through with a June announcement it would gradually stop accepting Visa payments.   On June 11, the retailer issued a release stating it would stop accepting Visa payments across Canada, starting July 18 at stores in Thunder Bay, Ontario. Multiple media reports indicate that as of July 18, Walmart Canada is no longer taking payments via Visa-branded cards at three stores in Thunder Bay.  

Another July, another Amazon Prime Day. With the e-tail leader already confirming this retail “holiday” will be back for a third time next July, let’s take a look back at the 2016 edition.   While a lot went well for Amazon during Prime Day this year, we may as well start with the biggest blunder. Namely, the widespread checkout issues that occurred during the morning hours. A glitch caused some U.S. and U.K. shoppers to have difficulties loading items into their shopping carts and/or making purchases.  

The National Retail Federation (NRF) is publicly supporting legislation that would phase in the Labor Department’s new overtime regulations.