News

J. Crew preps for down 2015
New York – J. Crew Group is prepping for a down fiscal 2015 after a disappointing first quarter. Non-cash goodwill impairment charges and rising selling, general and administrative (SG&A) expenses helped significantly increase the retailer’s net loss to $462.4 million, compared to $30.1 million the first quarter of fiscal 2014.
Study: Online shoppers shift channels
Atlanta - Online shoppers frequently change retail channels during their shopping experience. According to the new Pulse of the Online Shopper study from UPS and comScore, better prices (57%) and selection (49%) are the top reasons for purchasing online after researching an item in-store.

Nearly half (48%) of online shoppers have used ship to store in the past year, and 45% of those consumers made an additional purchase when picking up their online purchase.

Same store sales rise at Costco in May

Costco reported a bump in U.S. same store sales for the month of May, but international comps declined.
Williams-Sonoma rolls out video checkout

Williams-Sonoma is rolling out a fast, easy and secure way to pay online that brings a whole new meaning to instant gratification.

The retailer is teaming up with Visa to launch a marketing campaign and four-part video series called “Time to Savor Summer.” The video series, launched in support of the availability of Visa Checkout on the Williams-Sonoma e-commerce site, will be “shoppable” due to YouTube’s new shoppable video technology.
Michaels weaves strong profits in Q1

Irving, Texas – Net income at the Michaels Companies Inc. skyrocketed 47% to $67 million in the first quarter of fiscal 2015 compared to $45 million in the same quarter a year earlier. A large drop in interest expense helped fuel strong profit growth.

Net sales climbed 2% to $1.08 billion, from $1.05 billion. Same-store sales rose 0.3%. Michaels said unfavorable weather and a strong U.S. dollar hindered sales growth.
How McMillon is reinventing Walmart

According to Fortune, CEO Doug McMillon may be the best prepared executive to lead the company since Sam Walton.

The magazine details how McMillon is guiding the retail giant in the Age of Disruption.

Read more by clicking here.
Celebration Pointe secures $125 million loan

Gainesville, Fla. - The developer of Celebration Pointe, a 225-acre mixed-used regional development located in Gainesville, Florida, has secured a $125 million construction loan for Phase I of the project. Celebration Pointe partner Ralph Conti made the announcement.

“We are very pleased to have secured this key piece of our capital stack,” said Celebration Pointe partner Ralph Conti.
Report: Gap eyes Toys"R"Us space in Times Square

Gap Inc. is eyeing the 110,000-sq.-ft.
New PayPal privacy policy allows calls, texts

San Jose – A new privacy policy which will take effect at PayPal Inc. on July 1 will require users to allow PayPal, its affiliates and service providers to contact them at provided telephone numbers via autodialed or prerecorded call or text message. While the policy prohibits PayPal from sharing user contact information with outside third parties, contracted billing and collection companies are permitted to use customer phone numbers.
Amazon has top reputation in retail in 2015

For the third year in a row, Amazon has claimed the top spot in the Reputation Institute’s annual survey of America’s 50 most reputable companies in the retail industry.