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Exclusive: Retailers Need to Stop the Shipping Bloodbath
Recently an investment banking colleague from HT Capital Advisors mentioned to me that Bombfell, an online men’s clothing subscription service, received $1 million in venture capital funding. Under the business model, an online personal stylist personally selects each member’s items and sends them to the shopper, with free shipping. The shopper only pays for what he keeps (he has 10 days to decide) and then returns the rest, also with no shipping charge. On the heels of that chat, I read about MM.LaFleur, a similar model for women.
Gap has one bright spot in August
San Francisco -- Gap Inc.’s sales slump continued in August across all its brands with one notable exception. The retailer said that it wasn’t helped by a late Labor Day, with the holiday falling in September this year, as opposed to August last year.

Gap's global same-store sales fell 8%, compared to a 6% decrease for the year prior, while Banana Republic had a 11% drop compared to 6% last year. Old Navy continued its winning streak, with a same-store sales rose 6% on top of a 2% increase for the prior year.

Soft pharmacy sales drag on Rite Aid

Prescription counts decreased a little and pharmacy same-store sales were up in August, according to numbers reported by Rite Aid Thursday.
Did back-to-school buying end summer slump?

San Jose, Calif. -- The back-to-school season traditionally gives retailers a much-needed boost, bringing traffic into stores in August. How did things turn out this year?

Not so great it turns out, according to RetailNext Inc., which provides retail analytics for brick-and-mortar stores. The firm’s, monthly Retail Performance Pulse revealed a 7.3% year-over-year decrease in sales on a 9.9% decline in traffic at physical stores for the retail month of August (Aug. 2 through Aug. 29 on the retail 4-5-4 calendar).
Hy-Vee gets into the walk-in clinic business

Hy-Vee announced Thursday that it would be placing retail clinics in two new Twin Cities-area stores opening in September.

For the clinics in the New Hope and Oakdale stores, Hy-Vee has teamed with North Memorial Health Care, whose physician assistants and nurses will staff the North Memorial Express Clinics.
IBM: Consumers mobilize for back-to-school

Armonk, N.Y. – Consumers are mobilizing for back-to-school shopping in a very literal way.

Mobile sales were up nearly 42% in August, reaching 25.3% of all online sales, according to IBM Digital Analytics Benchmark data.

During this time, consumers also used their mobile devices to browse deals, with traffic accounting for 49.4% of all online traffic, up more than 19% compared to the same period year.
Sears Hometown profit declines in Q2; will close stores

Hoffman Estates, Ill. – Sears Hometown & Outlet Stores Inc. posted declining profits and revenues in a generally difficult second quarter of fiscal 2015.

The retailer plans to close 40-50 underperforming stores by the end of the year, on top of 63 underperforming locations closed in the first half of 2015.
Retailer goes on hiring binge for next big holiday

Livonia, Mich. -- It’s Labor Day, time to start thinking about Halloween.

In anticipation of one it calls of the largest retail holidays in the U.S., costume superstore, Halloween City, is creating thousands of temporary jobs to staff the hundreds of Halloween City stores now opening across the country.

The retailer is recruiting up to 10,000 new employees to fill temporary management and store associate positions nationwide.
True Value expands again in PIttsburgh

The True Value Company family has expanded with the addition of Pittsburgh-based Busy Beaver Home Improvement Centers.
Report casts doubt on proposed Staples-Office Depot merger

New York -- A new report suggest that the Federal Trade Commission is unlikely to approve the merger between Staples and Office Depot.

The report, by 24/7 Wall St., cites on a market-share argument that the proposed combination imperils competition.

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