News

The turnaround plan at Kohl's isn't working
Kohl’s has joined other major retailers this week reporting disappointing earnings and anemic same store sales growth.

The Wisconsin-based retailer posted a profit of $130 million in the second quarter ended Aug. 1, below the $232 million in the prior-year quarter. Earnings per share were 66 cents, compared with $1.13 in the second quarter of 2014. Same store sales grew a measly 0.1%. Overall revenue increased by just 0.6%, to $4.27 billion for the quarter.
New titan in the mobile payment wars
Move over Apple and Google — and make way for Samsung.

Poll: Minimum wage too low

New York -- A strong majority of Americans (72%) - crossing regional, political, generational, gender and income lines – believe the current federal minimum wage of $7.25 per hour is lower than it should be. However, while Americans clearly feel minimum wage should be higher, exactly how high remains a more contentious subject.
Stein Mart targets discount shoppers in N.Y., Mich.

Off-price retailer Stein Mart is accelerating the implementation of its store growth strategy just as thrifty shoppers increasingly flock to discounters.
Some good news for retailers in July

New York -- A report suggests that U.S. consumers aren’t letting the summer doldrums or world unrest get in the way of shopping — although not all retailers are benefiting.

Retail sales rose 0.6% in July month, according to the U.S. Commerce Department. Excluding sales of automobiles, sales were up 0.4%. Eleven of 13 major categories showed increases.

The Commerce Department also revised June's 0.3% decline in retail sales to an unchanged reading.
Toys"R"Us looks to Netflix for roaring sales

Toys"R"Us has teamed up with Netflix on a new animated series that tells the tale of anthropomorphized vehicular dinosaurs.
Target struts its style with attention-getting 20-page ad campaign

Minneapolis -- Target Corp. is reaching out to fashionistas with a splashly — and digital-savvy — insert in the most important issue of the world’s most influential fashion magazine.
It's not about back to school, it's 'vacation season' for parents

Kmart is taking a comedic approach to its back-to-school promotions this year with an eccentric ad campaign.

The retailer has rolled out an ad that touts back-to-school season not being about students, but about parents getting ready to get their free time back.
Why Macy’s got rid of Trump’s menswear line

New York -- Macy’s CEO and chairman Terry Lundgren is talking about why the department store giant decided to stop carrying Donald Trump’s menswear collection.

In a report on CNBC, Lundgren said the decision was a business one.
REI gets its first ever CIO

REI has grown to 140 stores in 33 states with a sizable e-commerce operation. Imagine what the company will be able to do now that it has finally named a chief information officer and gotten aggressive about recruiting technology talent.

The national outdoor specialty retailer elevated Julie Averill to the role of CIO after the 25 year technology veteran joined the company last year as senior vice president of information technology. She joined REI from Nordstrom where she served as the department store retailer’s vice president of technology.