News

FTC: Identity theft rises sharply
Retailers looking for validation that their data privacy efforts matter can look to disturbing new figures from the Federal Trade Commission (FTC).

According to data released by the FTC, it received more than 490,000 consumer complaints about identity theft in 2015. This is a 47% increase from the number of identity theft complaints in 2014. The Department of Justice estimates that in total, 17.6 million Americans were victims of identity theft in 2014.
Here's where the shoppers were last Christmas
Tuesday Morning's value proposition clearly resonated with shoppers over the holidays as the off-price retailer reported an impressive increase in same-store sales for the second quarter.

The Texas-based retailer said that for the second quarter and six months ended Dec. 31, net sales were $319.9 million for the second quarter, an increase of $18.5 million from the prior year period. Same-store sales increased 8.4%. Operating income for the second quarter was $20.6 million. Diluted income per share was 43 cents.

Shake Shack, Uber shake up rewards

Shake Shack and Uber have digitally collaborated on customer experience with a little help from Visa Inc.

In December 2015, New York-based, 66-unit Shake Shack and Uber utilized the new Visa Commerce Network to offer a cross-promotion. Built on the VisaNet electronic payment network and accessible through application programming interfaces (APIs), Visa Commerce Network works by connecting transactions between two merchants.
Report: Circuit City is making a comeback

Remember Circuit City? According to a new report from Twice, the new owners of the naming rights to the electronics chain have an ambitious plan to open retail outlets, websites, branded and private-label products, licensed kiosks, mobile shops and franchise opportunities -- all under the Circuit City banner. [Twice]
Hhgregg ends the year on a sour note

Hhgregg's holiday disaster was confirmed Thursday when the struggling retailer officially posted a loss of $26.9 million in its fiscal third quarter.

The company said that for the third quarter ended Dec. 31, net sales decreased 10.9% to $593 million, compared to the prior year third quarter.
UberRush increases drive for delivery presence

Ride-sharing service Uber is getting more aggressive in its jockeying for position in the online delivery marketplace.

In October 2015, Uber expanded its UberRush same-day delivery service from New York, where it had been operating for about two years, to San Francisco and Chicago. UberRush uses Uber drivers to deliver merchandise from retailers to customers for a $5-$7 fee, often in minutes.
Amazon shows why it’s every retailer’s nightmare

It was a happy holiday season at Amazon.com where fourth quarter profits more than doubled, sales increased 22% and the company handily surpassed annual sales of $100 billion for the first time.

Amazon.com said its net sales increased 22% to $35.7 billion in the fourth quarter ended Dec. 31, 2015, compared with $29.3 billion in fourth quarter 2014. With a $1.2 billion unfavorable impact from year-over-year changes in foreign exchange rates, fourth quarter sales would have increased 26%.
Shoes sales propel profits at Under Armour

Profit at Under Armour increased nicely in the fourth quarter, and the sports clothing company said growing shoe sales led the company to increase its outlook.
Tech Guest Viewpoint: Cash Recyclers are a Game-Changer

When one looks at the hot topics in retail today, no shortage of economists, journalists, industry thought-leaders and technology pundits are talking about the future of payments. One topic that many aren’t really discussing is managing large volumes of cash receivables.
Under Armour turns 20 in 2016; expects best year ever

A 31% increase in its store count and a host of digital initiatives helped Under Armour achieve stellar fourth quarter and full year results, with 2016 expectations calling for more of the same.