News

Office Depot rewards military veterans
Office Depot is seeking to attract more veterans and their families to its stores with a new discount program.

The retailer is teaming up with Veterans Advantage to reward active duty and retired military, veterans, National Guard and Reserve, and their families with a 20% discount on office supply purchases. Veterans Advantage discounts are available every day on regularly-priced items and can be combined online with the company’s standard free delivery on qualifying purchases of $50 or more within our local delivery areas.
Survey: REITs worries include taxes, interest, mergers
Chicago – Real estate investment trusts (REITs), which represent a sizable share of retail real estate activity, are worried about possible increases in interest rates. According to a report by consulting firm BDO USA LLP, 97% of REITs mention risks related to increases in interest rates and hedging. This is up from 90% in 2014 and 88% in 2013, according to the 2015 BDO RiskFactor Report for REITs, which analyzes the most recent SEC 10-K filings for the 100 largest publicly traded REITs in the U.S.

Millennials: The new retail standard bearer

A new wave of consumers is quickly becoming the most powerful economic force in retail, and it is causing retailers to refine plans on how to meet the needs of this new generation.

While some retailers may see Millennials as a unique group that forces massive change, GameStop sees them as well-informed, independent consumers who are causing us to rise to an even higher level of service.
Ross tops Street with Q1 earnings; lifts outlook

Dublin, Calif. – Ross Stores Inc. topped Wall Street expectations with net earnings of $282 million in the first quarter of fiscal 2015, up 15% from $244 million in the year-ago period. A one-time benefit related to timing of packaway costs (when a discount retailer buys end-of-season merchandise to sell at a markup the following year) boosted profits.
The off-price retailer reported that its sales rose 10% to $2.93 billion from $2.68 billion in the year-ago period. Same-store sales increased 5%.
Foot Locker reports 'most profitable quarter ever'

Foot Locker has "hit the ground running in 2015," according to CEO Richard Johnson, adding that the company posted a better-than-expected 14% increase in profit in its first quarter as the sportswear retailer continues to benefit from sales growth.
Hibbett comes up short with earnings, revenues

Birmingham, Ala. – Hibbett Sports Inc. cane up short of Wall Street expectations for earnings and revenues in the first quarter of fiscal 2016. Hibbett reported net income of $27.4 million, down 3% from $28.4 million a year earlier.

Increases in store operating, selling and administrative expenses, as well as depreciation and amortization, fueled the decline in profit. Net sales grew 3% to $269.8 million from $261.9 million, while same-store sales dropped 0.9%.
LivingSocial takes health care turn

Former Sears and Walgreens finance executive Atul Kavthekar is joining LivingSocial as CFO to help execute the e-commerce company’s ongoing re-invention strategy.
Aeropostale shrinks net loss in Q1 amid cost reductions; sales decline 19%

New York — Aeropostale Inc. managed to shrink its net loss in the first quarter of fiscal 2015, even as sales declined. The mall-based specialty retailer reported a net loss of $45.27 million, down from $76.78 million, amid reductions in selling, general and administrative expenses (SG&A) and restructuring charges helped cut net loss.
Net sales dropped 19% to $318.6 million from $395.9 million. Same-store sales, including e-commerce, fell 11%.
Ikea to fuel Canada expansion with massive DC

Just days after announcing that it would be opening several "pick-up points" across Canada, Ikea says it plans to open a massive distribution center in Ontario in October.
Net loss grows at New York & Co. in Q1, will alter store count

New York – Increases in selling, general and administrative (SG&A) expenses and interest expenses helped increase net loss at New York & Co. to $4.7 million in the first quarter of fiscal 2015 from $300,000 the same period a year earlier. The growing loss occurred as sales improved 2% to $223.4 million from $219.6 million, and same-store sales rose 1.8%.