News

Buckle beats Street with falling Q2 profit
Kearney, Neb. — The Buckle Inc. beat Wall Street expectations for profit in the second quarter of fiscal 2015. The retailer achieved this feat even as net income slipped 4% to $23.5 million from $24.1 million.

Growth in cost of sales and selling expenses cut The Buckle’s profit. Net sales increased 0.1% to $236.1 million from $235.7 million. Same-store sales decreased 1.7%. In one bright note, online sales increased 17% to $20.1 million from $17.1 million.
L Brands still steady on its growth trajectory
L Brands Inc. continues to elude the troubles that have plagued other mall retailers, as the company reported a spike in same store sales.

The parent company of Bath and Body Works and Victoria's Secret said earnings per share for the second quarter ended Aug. 1 increased 8% to 68 cents compared to 63 cents for the quarter ended Aug. 2, 2014. Net income was $202.5 million compared to $188.4 million last year. Same store sales increased 4%.

Stage Stores to shutter 90 locations

Houston — Stage Stores Inc. plans to close 90 underperforming stores, representing 4% of total sales, after a disappointing second quarter that missed Wall Street expectations for profit and revenue. The retailer expects the closures to enhance its capital efficiency, deliver higher productivity and be accretive to earnings.

The 90 closings include 27 stores expected to be shut down during fiscal 2015. Stage also plans to open three new stores during the fiscal year.
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.
Walgreens expands clinic operations in the West

Walgreens locations in two western states will be getting new retail clinics through a new partnership with Providence Health and Services.
JDA, IBM offer end-to-end buying efficiency

Scottsdale, Ariz. – JDA Software Group Inc. is launching new integrated fulfillment capabilities that combine the functionality of JDA intelligent fulfillment and labor productivity solutions with order management solutions from IBM Commerce. This technology collaboration is designed to let retailers process orders more intelligently and profitably across sales channels in real-time, to ensure customers have a positive end-to-end buying experience.
Target trumps Walmart in 2Q

Target’s better than expected second quarter profits, same store sales, rate of e-commerce growth and an increased full year forecast stood in sharp contrast to the disappointing results Walmart reported a day earlier.
Starbucks to expand Puerto Rican presence

San Juan – Puerto Rico calls to many with warm weather, beautiful beaches and friendly people. The U.S. island territory is also calling to Starbucks Corp., who is answering with a new franchise deal that will significantly expand its Puerto Rican presence.

Starbucks has signed a licensing agreement with Baristas Del Caribe LLC, an affiliate of Puerto Rican conglomerate Empresas Fonalledas. Starbucks opened its first store in San Juan, in 2002 and today has 19 stores across the island, employing more than 340 employees.
Expenses nail Ace profit in Q2

Oak Brook, Ill. – Increased retail operating expenses, primarily related to store acquisitions and advertising, helped reduce profit at Ace Hardware Corp. during the second quarter of fiscal 2015. Net income totaled $57.5 million, a 13% drop from $66.5 million the same quarter a year earlier.

Consolidated revenues fared better, rising 6% to $86.2 billion from $84.8 billion.
Magento expands cloud analytics access

King of Prussia, Pa. - Magento, the e-commerce platform provider that is a division of eBay Enterprise, is partnering with New Relic Inc., is releasing an extension for the New Relic Software Analytics Cloud. The extension is designed to provide customers with a deeper understanding of their applications’ performance and customer engagement activities.