News

Report: Three Biggest Takeaways from Amazon’s impressive third quarter
Amazon surpassed analysts’ expectations on Thursday, posting a 23% increase in revenue and its second consecutive quarterly profit. But according to a report by The Street, Amazon’s fast-growing cloud services business was the biggest story, bringing in $2.1 billion in revenue for the quarter. [The Street]
Kohl’s says it is the smart holiday choice
In what promises to be the most omnichannel Christmas ever, Kohl’s contends it will offer shoppers a seamless experience that is faster and more convenient that ever.

Cabela’s curtails rate of expansion

Cabela’s smaller stores are not as productive as the company would like so the outdoor retailer is tapping the brakes on growth while it focuses on productivity.

In conjunction with the release of disappointing third quarter results and a reduced full year profit forecast, Cabela’s said it was evaluating it store expansion schedule and currently expects to open seven stores next year and no more than that in 2017.
Holiday 2015: Six product and pricing predictions

Product and pricing data provider 360pi is out with its take on what retailers and brands can expect this holiday season.

According to 360pi, retailers that offer real-time data, regionalized pricing and exclusive products will shine during the 2015 holiday shopping season. The firm puts more meat on the bone with its six holiday predictions, including:
Report: Struggling grocer turning out the lights

Fresh & Easy, which opened its first store in 2007 and was U.K. giant Tesco’s first U.S. venture, is closing its stores, the Los Angeles Times reported. The chain, which was never able to gain a foothold in the competitive U.S. grocery market, filed Chapter 11 in 2013, and was acquired by grocery billionaire Ron Burkle's Yucaipa Cos. with a loan from Tesco. [Los Angeles Times]
Five Below looks for sales to sizzle with new agency

Five Below is looking to generate brand awareness and traffic after selecting a new advertising agency to handle creative and media duties.

The teen and pre-teen retailer known for selling products for $5 or less chose Zimmerman Advertising, a division of Omnicon, as its agency of record and Five Below CEO Joel Anderson couldn’t be happier.
Prime Power: Amazon’s sales surge ahead of holidays

Amazon.com’s third quarter sales increased 23% to $25.4 billion and the online retailer and tech giant posted a huge improvement in profitability.

The company said operating income increased to $406 million in the third quarter ended Sept. 30, compared to an operating loss of $544 million in third quarter 2014. Net income increased to $79 million, or 17 cents a share, compared with net loss of $437 million, or 95 cents a share, the prior year.
Cabela’s pulling back on store expansion

Cabela’s smaller stores are not as productive as the company would like, so the outdoor retailer is putting the brakes on new store growth while it focuses on productivity.
Lumber Liquidators pleads guilty, pays fine

A federal investigation related to Lumber Liquidator’s illegal timber trafficking has ended with a guilty plea and some damning statements by prosecutors.
Bon-Ton Stores closing three stores

The Bon-Ton Stores announced it will close its Elder-Beerman stores in the Huntington Mall in Huntington, West Virginia and the Lima Mall in Lima, Ohio. The retailer said it will not renew the stores’ leases, which terminate January 31, 2016.

Additionally, Bon-Ton is closing its namesake store in the Carousel Center in Syracuse, New York, upon its scheduled lease termination on February 28, 2016.

The company said it does not expect costs associated with the closing of the locations to be material.