News

Dallas -- Neiman Marcus Group swung to a profit in the second quarter, helped by a 15% increase in online sales and its acquisition of Germany luxury online retailer MyTheresa.

The upscale retailer reported a profit of $27.8 million in the quarter ended Jan. 31, compared with a loss of $84.0 million in the year-ago period. (Neiman’s loss last year was partially credited to expenses related to

Revenue grew to $1.52 billion from $1.43 billion in the prior-year period. Same-store sales and online sales rose 5.6%.

New York – Cost-cutting and margin improvement in the struggling Nook e-reader segment helped Barnes & Noble Inc. boost consolidated net earnings 14% to $72 million in the third quarter of fiscal 2015, compared to $63 million in the year-ago period.    

Consolidated revenue slipped 1% to $1.39 billion from $1.4 billion. Same store sales at Barnes & Noble Inc. (excluding Nook) increased 1.7%.

Boston – Kohl’s will be pleased to hear that women love shopping for clothes there. According to a new survey from Piper Jaffray, a leading 12% of female consumers selected Kohl’s as their preferred clothing brand/store/website for spring 2015. Macy’s took second place with 9%, followed by J.C. Penney and Wal-Mart (7%) and Amazon (5%).

Kohl’s has taken the top spot in Piper Jaffray’s biannual survey since fall 2013.

Framingham, Mass. - The majority of small business leaders (87%) are optimistic about the year ahead. According to a recent Staples small business survey conducted online by Research Now, leaders are focused on results, with the top three small business goals in 2015 consisting of increasing revenue (76%), driving profits (70%) and gaining more customers (70%).

Promotional marketing (46%), better organization (38%) and software technology upgrades (35%) are the top tactics small businesses plan to use to meet these goals.

Norwalk, Conn. – Specialty retailer Dooney & Bourke has migrated its digital commerce operations from an on-premise solution to Demandware Commerce. The new site provides consumers with an enhanced online shopping experience, serving more than 40 countries in North America, Europe and Asia Pacific.

Philadelphia – Net income fell at Urban Outfitters Inc. during the fourth quarter of fiscal 2014, but still beat Wall Street expectations.

Urban Outfitters reported net income of $80.3 million, down 9% from $88.68 million the same quarter a year earlier.  Lower initial merchandise markups, increased markdowns and higher selling, general and administrative (SG&A) expenses all contributed to the decline.

Ankeny, Iowa – Casey’s General Stores Inc. beat Wall Street estimates with net income of $39.2 million in the third quarter of fiscal 2014, more than triple $12.65 million earned in the year-ago period. Steady decline in wholesale fuel costs and rising inside sales helped Casey’s achieve impressive profit growth.

Casey’s currently has 26 new and 11 replacement stores under construction. The retailer’s annual goal is to build or acquire 72 to 108 stores and replace 25 existing stores.

Seattle – American innovation has been heading west since the development of the extra-durable Conestoga wagon in the 1700s. On March 17, Starbucks will continue the pioneer tradition by expanding its mobile order & pay system to the Pacific Northwest.

The mobile payment feature allows Starbucks mobile app users to place their order in advance and pick it up at a selected Starbucks location. It is seamlessly integrated into the Starbucks app and loyalty program.

New York - U.S. consumers are no more interested in paying for purchases using mobile phones than they were six months ago, when Apple unveiled Apple Pay. According to a new poll of 1,000 U.S. adults from CreditCards.com, 17% of respondents said they would pay for items using a cellphone "always" or "most of the time" if they could.

Alexandria, Va. - Rising gas prices are taking a toll on consumer optimism about the economy. According to survey results released by the National Association of Convenience Stores (NACS), consumer optimism fell from 54% to 44%, the largest decrease in optimism since August 2014,