News

Report: Physical stores and technology have strong appeal for ‘omnishopper’
New York -- While the use of technology in shopping is almost universal, brick-and-mortar stands strong, with the “omnishopper” choosing physical stores for better customer service and a faster, more social buying experience.

That’s one of the key findings of a report released on Wednesday by MasterCard, which notes that the continued appeal of physical retail might be a contributor to e-commerce’s relatively flat growth as a share of total retail sales (7.5% globally).
PacSun does corporate reshuffling as part of expense cutting move; CFO departs
Anaheim, Calif. – Pacific Sunwear of California Inc. is launching a major expense reduction initiative in the wake of disappointing second quarter results.

Dick’s expands All American concept

Two months after opening its first All American Sports Center, Dick’s Sporting Goods is extending the concept to two new markets in Ohio.
Francesca’s profit slips in Q2; reining in expansion

Houston – Rising expenses resulted in falling profits at Francesca’s Holdings Corp., which plans to slow its store expansion going forward.

Francesca’s net income fell 10% to $9.3 million in the second quarter, from $10.3 million the prior year period.

Rising boutique and payroll expenses related to new store openings were the primary factor in decreasing Francesca’s profits. However, new store openings also helped drive a 9% increase in net sales, to $106.03 million from $97.02 million.
Men's Wearhouse still growing despite Jos. A. Bank

The CEO of Men’s Wearhouse Inc. says the company is well-positioned to implement its growth strategy despite lackluster second quarter results and a struggling Jos. A. Bank unit.
PriceSmart shows sales smarts in August

San Diego - PriceSmart Inc. demonstrated intelligence when it comes to sales in August 2015. The U.S.-based operator of warehouse club stores in the Caribbean and Latin America increased net sales 13% to $232.7 million from $206.7 million in August a year earlier.

Same-store sales rose 3%. PriceSmart will release fourth quarter and fiscal year 2015 results on Oct. 29.
Another teen retailer in major shakeup

A California-based teen retailer is launching a major expense reduction initiative in the wake of disappointing second quarter results.
Study: Slow sites drive away customers

Mahwah, N.J. - Bulky, slow web pages will drive away shoppers.

According to a new study of the top 100 e-commerce sites from Radware, “State of the Union: E-commerce Page Speed & Web Performance Summer 2015,” 57% of site visitors will abandon a web page after just three seconds if they are unable to interact with the key content.
Biggest challenge to online retailers this holiday season will be …

Research Triangle, N.C. -- Christmas keeps getting earlier with each passing year, but the main challenge for online merchants stays the same.

Nearly 60% of online retailers plan to start their holiday promotions in September or sooner, and 34% of the retailers said fulfilling orders on time is their biggest challenge during the holidays, followed by adjusting to competitor activity (27%) and converting mobile traffic (19%).
Apple TV to enable shopping

San Francisco -- Come October, consumers will be able to buy clothing and other goods on their Apple TV.

In its never-ending quest to wind its way deeper into people’s homes, Apple Inc. on Wednesday unveiled a new version of its Apple TV, the set-top box device that lets viewers stream live video through such sources as Netflix and Hulu. In the most talked-about update, the device will now come with its own App Store, featuring apps for TV and video viewing, games, sports — and shopping.