News

This week, a three-year-old Great Dane from Portland made headlines for consuming 43.5 socks. Hanes is capitalizing on the trending story by offering the mischievous pooch free dog treats for the rest of his life. 

“While Hanes believes its socks are tasty footwear,” the company said in a statement, “it hopes this offer will get the Great Dane snacking on something that's much more pleasant for his tummy.”

Target is expanding its TargetExpress format outside the Minneapolis area for the first time. The retailer plans to open two new stores in San Francisco’s financial district and Berkeley, California, in March 2015.

Starbucks will launch two new store formats in fiscal 2015, include a smaller-format concept aimed at urban commuters and a more premium store concept — Starbucks Reserve Roastery and Tasting Room — dedicated to the chain’s highbrow Reserve brand of coffees.

New York -- Costco Wholesale Corp. and L Brands Inc. were among the retailers that posted stronger-than-expected sales in August, fueled in many cases by back-to-school promotions.

Costco led the pack, reporting a 7% gain in August total same-store sales, ahead of views for a 4.9% gain. U.S. same-store sales, excluding the negative impacts from gasoline price deflation and foreign exchange, rose 7% as well. Top-performing categories at Costco included housewares, small appliances, apparel, fresh foods and food sundries.

Armonk, N.Y.  -- Online U.S. retail sales for August 2014 were up more than 11% as compared to the same period the prior year. According to new IBM Digital Analytics Benchmark data, mobile traffic accounted for 41.5% of all online traffic, up 34% compared to the same period the previous year.

New York -- With U.S. social commerce sales expected to reach $14 billion by 2015 and social networks like Twitter and Facebook ramping up their commerce capabilities, a survey by global marketing and technology agency DigitasLBi, and conducted online by Harris Poll, shows that while only 5% of Americans have made a purchase on a social media site, 20% would consider doing so.

New York – Shoppers spent $50.17 billion online during the 2014 back-to-school shopping season, which represents a 16% gain from $43.26 billion in the year-ago period, according to eMarketer. Online commerce during the months of July and August — the main months for back-to-school shopping — accounted for approximately one-sixth of retail ecommerce sales for the year, according to eMarketer estimates, as well as 70.5% of retail ecommerce sales in third quarter 2014.

San Francisco – August 2014 sales results indicate the 2014 back-to-school period had a significant boost to shopping activity. According to new data from in-store retail analytics provider Euclid, traffic increased substantially compared to the previous month, aided by temperate weather and multi-year highs in consumer confidence.

Clearwater, Fla. – AccuStore, a provider of site profiling technology and services, announced The Pantry, a chain of 1,500 plus convenience stores, has licensed AccuStore’s site profile management platform with plans to reduce operating costs and improve execution.
 

Seattle – The board of directors of Nordstrom Inc. has authorized a repurchase program of up to $1 billion of the company’s outstanding common stock, through March 1, 2016. Nordstrom intends to fund the repurchase program from existing cash on hand.