News

Lumber Liquidators profit drops in Q4; will open 30-35 stores
Toano, Va. – Despite falling net income, Lumber Liquidators Inc. plans to open 30-35 new stores and remodel 15-20 stores, all in an expanded showroom format, during fiscal 2015. In the fourth quarter of fiscal 2014, the retailer reported net income of $17.3 million, down 17% from $20.8 million in the same quarter the prior year.

Selling, general and administrative (SG&A) expenses $6.5 million, or 9%, to $77.8 million primarily due to higher advertising, depreciation, occupancy and payroll expenses.
Survey: Few consumers report recent bad retail experience
Waban, Mass. – In a sign that retailer efforts to enhance customer service may be working, few consumers report having a bad experience with a retailer in the past six months. According to a new Temkin Group report, “What Happens After a Good or Bad Experience, 2015,” only 4% of consumers report having a bad experience with a retailer.

Six retailers are at a 1% reporting level for bad customer experience: True Value, Costco, Bed Bath & Beyond, Ace Hardware, Gap, and Staples.

Study: Millennials help boost casual fashion sales

Port Washington, N.Y. – The affinity of Millennial consumers for casual and activewear has resulted in a small boost in apparel, footwear and accessories sales. U.S. consumers spent $323 billion on apparel, footwear, and accessories in 2014, according to The NPD Group.

The 1% increase compared to 2013, resulting in an additional $2 billion in sales, was driven primarily by growth in sales of activewear, athletic performance footwear, and bags.
Staples offers small business loans

Framingham, Mass. – Staples Inc. has launched the “Staples Business Loans powered by Lendio” service to provide access to capital for small business owners. Staples teamed up with Lendio, a financial technology firm and small business-lending marketplace, to deliver a suite of funding options.

Staples Business Loans offers more than 20 different funding options and the flexibility for businesses to use the money for whatever their business needs.
Coach relaunches flagship site on Demandware cloud platform

New York - Coach Inc. is the latest retailer to take a cloudy outlook on e-commerce. The luxury chain has re-platformed its flagship site on the Demandware Commerce Cloud.
Japanese cosmetics provider goes mobile with IBM

Tokyo - Shiseido Co. Ltd., a global cosmetics manufacturer, will empower its nearly 10,000 beauty consultants in Japan with IBM mobile apps designed to provide new customer services, customer-centric product improvements and social innovations.
Webinar: Redmond offers seamless customer experience with VeloCloud

Redmond Inc., a vertical retailer of agricultural products, is meeting the challenges of providing a seamless customer experience head-on by using a cloud-based WAN from cloud-based networking provider VeloCloud. Connecting stores, distribution centers and warehouses with effective omnichannel capabilities using VeloCloud's cloud-delivered capabilities, Redmond has grown by 800% in the last 10 years as it has evolved into a sophisticated and seamless retail operation.
Study: Global supply chain is outdated

Scottsdale, Ariz. – For all the advancements in retail in recent years, the tools and processes supporting the global supply chain remain outdated.
Macy’s: Q4 tops forecasts; ports dispute to hurt sales; expanding Bluemercury

Cincinnati -- Macy's fourth quarter net income fell to $793 million from $811 million a year earlier, topping analysts expectations. However, the retailer issued a disappointing profit outlook for the current year, and sounded a warning for the current quarter, saying sales and margins would be impacted by shipping delays related to the West Coast ports dispute.
Lowes grew (profits) faster than HD in Q4

Lowe’s grew same store sales 7.4% in the fourth quarter and surpassed the high bar Home Depot set the prior day in terms of profitability as well as store expansion.

Sales at Lowes during the period ended Jan. 30, increased 7.6% to $12.5 billion and U.S. same store sales grew 7.4%. Neither the top line or comp number were as large as the 8.3% sales increase and stunning 8.9% comp increase Home Depot generated from its U.S. stores, but Lowe’s managed to grow profits at a quicker pace.
TJX profits rise, so will employee wages

It’s no wonder Macy’s is looking to allocate part of its $1 billion capital expenditure budget into opening off-price stores when you look at the financial results TJX Co. reported for the fourth quarter.

The company reported an 11% increase in profit for the quarter ended Jan. 31. Net sales for the fourth quarter were $8.3 billion, a 6% increase over last year. Same store sales increased 4% over last year’s 3% increase. Net income was $648 million and diluted earnings per share were $.93, a 15% increase over last year’s $.81 per share.
Canada proves costly, but Target’s U.S. comps solid

Target’s better than expected 3.8% fourth quarter same store sales increase softened the sting of a massive $5.1 billion charge the company said it would take related to its retreat from Canada.