News

Walmart aids Texas, Okla. flood victims
As Texas deals with the aftermath of tragic flooding, Walmart is trying to make a difference in the state where it has its largest presence.

The Walmart Foundation has announced donations totaling $500,000 to organizations helping with relief efforts for those affected by the floods in Texas and Oklahoma.
Margins aid Belk Q1 income
Charlotte, N.C. – Investments in higher margins and topline growth helped boost net income at Belk Inc. 13% to $21.8 million in the first quarter of fiscal 2015 from $19.3 million in the same period a year earlier. Net sales were $985 million, up 3% from $955.1 million.

Same-store sales rose 3.3%. The strongest merchandise categories were men’s and women’s apparel, especially activewear, across all areas. The company’s online sales increased 37%, positively affecting same-store sales by 2.1%.

Small steps toward growth for Big Lots

Big Lots continued to see positive results from the steps it has taken to improve its business in the first quarter, with the retailer posting increases in profit and sales.

Same store sales rose by 1.6% in the first quarter ended May 2, reflecting better performance in its remaining stores, and income from continuing operations jumped by 13% to $32.3 million, producing earnings of $0.60 per share, beating estimates by a penny.
Geeknet spurns Hot Topic for higher offer

Fairfax, Va. – Geeknet Inc. has determined that an acquisition offer from an unnamed strategic bidder of $20 per share, or about $134.6 million, is superior to a previous offer from Hot Topic of $17.50 per share, or about $117.3 million.
Toys“R”Us gets social to cure cancer

Toys“R”Us is launching an innovative social media campaign to raise money for one of the retailer’s most popular causes.

The retailer is hosting its fifth consecutive fundraising campaign to benefit Alex’s Lemonade Stand Foundation (ALSF), a nonprofit organization dedicated to finding a cure for childhood cancer.
Google’s new Android Pay: Q&A

On Thursday, Google introduced Android Pay, which will power in-app and tap-to-pay purchases on mobile devices. Here are some comments from Pat Dermody, president of Retale, a location-based mobile platform connecting shoppers with their favorite local retailers, on the new feature:
Exclusive: Home furniture retailer American Signature syncs stores, site

Columbus, Ohio – As an omnichannel retailer of big ticket furniture items through the American Signature and Value City banners, 120-store American Signature Inc. knows its shoppers do their homework online before visiting a store. To link the store and digital experiences as seamlessly as possible, American Signature employs technology from Boston-based Blueport Commerce.
A look at the evolving payments landscape

We live in interesting times when it comes to all the ways we can pay and complete purchases, times when you can now order food for delivery without ever leaving your search engine. More convenient and secure ways of making payments are advancing on a number of interesting fronts, including computer chip enabled EMV credit and debit cards that are soon to replace magnetic stripe cards in the United States, and mobile phone-based digital wallets like Apple Pay and CurrentC (not to mention the digital currency bitcoin, which admittedly we’re pulling for).
GameStop beats expectations

Grapevine, Texas -- GameStop Corp.’s net income rose to $73.8 million in the first quarter, ended May 2, from $68 million, a year earlier.

Global sales increased to $2.06 billion from $2.00 billion, helped by the releases of games such as "Evolve" and "Mortal Kombat X."
Same-store sales rose 8.6%.
Signet Jewelers sparkles in first quarter

The integration of Zales helped Signet Jewelers turn i a robust financial performance in the first quarter.