News

Survey: In-store experience matters
Stamford, Conn. — Even with the increasing influence of digital technology on retail habits, the in-store experience is important in all major purchase decisions, according to a new survey. The new Fourth Annual Major Consumer Purchase Study from Synchrony Financial shows that an overwhelming majority of shoppers buy in person.

At the same time, shoppers continue to carefully research major purchases of $500 or more, including financing options. While 80% of major purchase customers start with online research, most finish the deal inside a store.
Saks Fifth Avenue tries on some Manolos
Saks Fifth Avenue's New York flagship is targeting upscale shoe lovers with a historic partnership.

REIT pushes Sears into black

Hoffman Estate, Ill. — A one-time gain of $2.7 billion from the creation of its publicly-traded Seritage Growth Properties real estate investment trust (REIT) pushed Sears Holdings Corp, into the black for the first time since 2012. Sears reported net income of $208 million in the second quarter of fiscal 2015, compared to a net loss of $573 million the same period the prior fiscal year.
Michaels crafts a new partnership with startup

Michaels is targeting online DIYers via a new strategic arrangement with a San Francisco startup.

The world's largest arts and crafts retailer has partnered with trend-driven online DIY marketplace Darby Smart to make crafting simpler and more accessible to everyone.
Walgreens to expand in-store health clinics in Northwest

Deerfield, Ill. — Walgreens and Providence Health & Services are entering a strategic clinical collaboration that plans to bring up to 25 new retail clinics to Oregon and Washington. The clinics will be owned and operated by Providence and its affiliates, and become the first to open at Walgreens stores under a new collaborative services model.
The trend at Citi Trends is profitability

The CEO of Citi Trends says well-managed inventories and improved merchandising helped the company deliver strong sales growth in the second quarter.
L Brands meets Street in Q2

Columbus, Ohio — L Brands Inc. met Wall Street expectations with profit and revenue in the second quarter of fiscal 2015. Net income grew 7% to $202.48 million from $188.36 million the same period a year earlier.

The cost of goods sold rose at a slower rate than net sales, helping boost profits. Net sales grew 4% to $2.76 billion from $2.67 billion. Same-store sales rose 3% overall, with the Victoria’s Secret and Bath & Body Works banners both posting a 3% same-store sales lift.
Toys"R"Us takes lemonade stand fundraising to new level

Toys“R”Us has collected a sizable amount of money for a cause near and dear to the hearts of toy-loving kids and parents worldwide -- mostly thanks to an innovative social media campaign.

The retailer says it raised $2.2 million during its fifth annual nationwide fundraising and awareness campaign benefiting Alex’s Lemonade Stand Foundation (ALSF), a nonprofit organization dedicated to finding a cure for pediatric cancer.
Bon-Ton net loss grows in Q2

York, Penn. – The Bon-Ton Stores Inc. saw its net loss grow to $39.6 million from $36.2 million in a difficult second quarter of fiscal 2015. An early mortgage termination led to the increased loss.
Unseasonably cool weather and shrinking traffic drove net sales down 1% to $555.4 million from $563.5 million. Same-store sales fell 0.2%, although e-commerce sales grew in the double digits.
Sam's Club gets social with small business shoppers

Sam’s Club is taking its efforts to woo small business customers to social media.

The retailer is launching #SmallBizHelp, an interactive social media campaign that offers expert advice on starting and running a business.