News

Sam’s Club enhances omnichannel pickup
Bentonville, Ark. - Sam’s Club has improved its Club Pickup buy-online-pickup-in-store service, formerly known as Click ‘n Pull, with new features. Club Pickup allows members to order thousands of items, from paper towels to fresh produce to printer ink, and have them ready for pick up at all U.S. Sam’s Club locations at no additional cost.
Report: Best Buy CEO still believes in brick-and-mortar
The CEO of Best Buy says brick-and-mortar stores are absolutely vital to beating Amazon.com and other retail rivals.

According to MPR News, Best Buy CEO Hubert Joly told students at the University of Minnesota that "the chain's roughly 1,400 U.S. stores allow the retailer to demonstrate new products for customers and deliver the goods faster than Internet-only merchants."

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Lands’ End profit plummets in tough Q1

Dodgeville, Wis. – Profit plummeted in a difficult first quarter of fiscal 2015 for Lands’ End Inc. that also saw sales decline. Cost of sales and other expenses declined at a smaller rate than revenues, leading to net income of $1.72 million, down 84% from $10.86 million the same quarter a year earlier.

Net merchandise sales and services declined 9% to $299.39 million from $330.48 million. Same-store sales dropped 12.1%.
Mother's Day a boon for L Brands

The Mother's Day holiday drove up traffic at L Brands, which reported a surge in same store sales for May.

The company reported that net sales increased 5% to $799.1 million for the four weeks ended May 30, compared to net sales of $763.6 million for the four weeks ended May 31, 2014. Same store sales for the four weeks ended May 30, increased 5%.
Inland Real Estate Group names chief accounting officer

Oak Brook, Ill. - The Inland Real Estate Group Inc. is naming Prashant Bodhanwala, 48, as chief accounting officer, overseeing accounting, financial strategic planning and financial analyses for Inland. Bodhanwala most recently served as VP of accounting for CA Ventures LLC, a real estate development firm, where he was responsible for all accounting, tax, accounts payable, accounts receivable and payroll.
EntrustRX helps Fred's increase sales

Fred's Super Dollar increased sales in May, one month after joining forces with specialty pharmacy operator EntrustRx.
Microsoft: Future includes clouds, nodes, maybe not encryption

Redmond, Wash. – Microsoft Corp. recently held a press tour of its Redmond, Washington campus that included briefings on the future of technology. Two items that may be of particular interest to retailers are a transformation to an IT networking model based on interconnected nodes, and a world where encryption-based security is obsolete.

“Peripherals will become nodes on an interconnected network,” said David Baumert, senior program manager technology & research, Microsoft. “They will sense the meaning of interactions.”
Sam’s Club, SmartBiz partner on digital lending platform

Bentonville, Ark. - Sam’s Club is partnering with SmartBiz as the exclusive platform for SBA-guaranteed loans for Sam's Club Business Lending Center, a digital platform for small businesses. As a Business Lending Center participant, SmartBiz will provide qualifying Sam's Club business members with SBA loans.
GS1 honors Macy's, other retailers for innovation

GS1 US has recognized three companies with GS1 US Apparel and General Merchandise Retail Industry Achievement Awards.
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.