News

Petco makes some big executive moves
Petco is making several changes to its leadership team as the retailer focuses on key omnichannel initiatives.

The pet specialty retailer announced that CEO Jim Myers will also be taking on the role of chairman, Brad Weston has been named president, Steve Lossing has been named senior vice president of operations, and Rebecca Frechette has been named senior vice president in charge of merchandising.
Closing the Gap Between Online and the Store
Consumers don’t see “channels.” They are time-starved and information-rich, and use technology that they carry around in their pockets and purses to find the best solutions to their lifestyle needs.

The practice in retail of creating different brand experiences in different channels has gone beyond being an inconvenience to shoppers. It is the central challenge that retailers are grappling with today.

Blue Nile crests beyond Street with Q2 profit, sales

Seattle – Online jewelry retailer Blue Nile Inc. had profit and sales results in the second quarter of fiscal 2015 that crested beyond Wall Street expectations. Net income rose 4% to $2.3 million from $2.2 million the same quarter a year earlier.

An increase in interest and other income, as well as cost of sales growth that did not match the growth pace of sales, drove the increase in net income. Net sales rose 7% to $113.69 million from $106.57 million.
Report: Twitter has big plans for buy button

San Francisco – Twitter is reportedly planning to expand the pilot of its buy button feature, and not by a small amount. According to Re/code, Twitter is negotiating with e-commerce platforms including Shopify to let potentially hundreds of thousands of retailers and other businesses directly sell goods through links embedded in tweets.
Walmart gives children an appetite for success

As kids prepare to head back to school this fall, the Walmart foundation is furthering its commitment to increase access to food and nutrition education for children with a whopping donation.

The retailer is making a $10.5 million donation to four national nonprofits implementing school meals programs.
Want clothes? Alibaba has a bunch

Hangzhou, China – The apparel selection on Alibaba Group’s Tmall.com third-party marketplace is getting a lot bigger.

Tmall has formed strategic partnerships with more than 160 brands from 110 global apparel chains. It will work with apparel brands in areas of new product launches, online-to-offline initiatives, data-driven operations, digital marketing campaigns and other services to enhance consumer shopping experiences.
Delinquency rates creep up at Conn's

Despite posting a sales increase in July, Conn's says nearly 10% of its customers are not paying their bills.

"Greater than 60-day delinquency was 9.2% as of July 31, 2015 compared to 8.7% as of July 31, 2014. Greater than 60-day delinquency as of July 31, 2015 increased seasonally compared to the June 30, 2015 rate of 8.9%," said Theodore M. Wright, Conn’s chairman and chief executive officer.
L Brands on a roll

Columbus, Ohio - L Brands Inc. continues its winning ways.
Lands' End looks to be the place for school uniforms

Lands' End is targeting all the shoppers who put "new uniforms" on their back-to-school lists this year with a brand new and improved uniform assortment.
Breach hits Sally Beauty Q3 profit; will close 16 German stores

Denton, Texas – Sally Beauty Holdings is feeling the impact of its data breach.

Costs related to a data breach discovered in May 2015, as well as higher selling, general and administrative (SG&A) expenses, helped reduce profit at Sally Beauty during the third quarter of fiscal 2015. Net earnings fell 8% to $62.46 million, from $67.76 million the same period a year earlier.