News

Framingham, Mass. – The TJX Companies Inc. met Wall Street expectations with net income of $594.96 million in the third quarter of fiscal 2014, down 4% from $622.65 million in the same quarter the prior year. Net sales rose 5% to $7.37 billion from $6.98 billion, short of Wall Street expectations.

Atlanta – The Home Depot Inc. showed solid performance in the third quarter of fiscal 2014 despite reporting a major data breach in September, but still has not fully accounted for all the costs related to the breach. Home Depot reported net earnings of $1.5 billion, topping Wall Street projections and a 7% increase from $1.4 billion the same quarter in fiscal 2013.

The IKEA Group has made its largest investment ever in renewable energy by buying a 165-megawatt wind farm in Cameron County, Tex.

The fourth quarter is off to a very strong start at TJX Companies, according to CEO Carol Meyrowitz, who expects an exciting mix of initiatives to yield a low single digit fourth quarter comp increase and profit growth.

Following in the footsteps of other major retailers, Bi-Lo Holdings, the parent company of Winn-Dixie, Harveys and BI-LO grocery stores, has announced that it will begin accepting Apple Pay in its retail locations.

“Customers want a shopping experience that is convenient, easy and secure,” said Bert DuMars, vice president of digital marketing at Bi-Lo Holdings. “Bi-Lo Holdings is prioritizing digital mobile solutions for our customers, and Apple Pay is an exciting first step in our journey.”

As companies increasingly turn to user-generated content (UGC) to promote their products, Rivet Works has announced its launch as the first content marketing software designed to boost active engagement between people and their favorite brands.  

Customers at the nation’s largest home improvement retailer appeared to shrug off any concerns about a data breach as Home Depot’s sales increased 5.4% to $20.5 billion. Comparable store sales increased 5.2%, but grew 5.8% at U.S. stores. The increased productivity at existing stores drove profit growth, with earnings increasing to $1.5 billion, or $1.15 per share, compared to $1.4 billion, or $95 cents a share, the prior year.

For many shoppers, it’s that time of year to skip the holiday meal, devise a shopping strategy and get in line, right?

Well, not if you are a Toys”R”Us Rewards member.

The company is now among the growing ranks of retailers looking to create an aura of exclusivity with shoppers by promoting early access to the hottest holiday prices.

The retailer plans to give its nearly 19 million loyalty program members a sneak peek of Black Friday deals on more than 100 items beginning Nov. 23.

Former Guess? and Victoria’s Secret executive Amber Fredman-Tarshis has joined Pacific Sunwear of California to help the teen retailer brand reconnect with customers.

Increased use of tablets and smartphone this holiday season will help online sales grow 16% to a record $61 billion, but desktop computers still dominate, according to the online measurement firm comScore.

The company said online sales during the November and December timeframe would be primarily driven by desktop computers, but noted that mobile devices are growing at a faster rate. Spending using desktop computers is projected to grow 14% to $53.2 billion while mobile commerce is projected to grow 25% to $7.9 billion and account for 13% of total e-commerce sales.