News

Tiffany & Co. reported a net loss of $104 million in the fourth quarter of fiscal 2013 thanks to a $473 million charge resulting from arbitration with The Swatch Group Dec. 2013.

The company reported net sales for the quarter of $1.3 billion, up 5% from $1.23 billion last year. Same-store sales for the quarter increased 6%.

New York – For many retailers, it may be time to consider investing in a new POS system. According to a new report from touch-screen POS terminal and peripheral vendor Posiflex Technologies Inc., fingerprint biometric technology provider Digital Persona Inc., and Chain Store Age, “How Do You Know If It’s Time to Upgrade Your POS System?,” rapid advances in omni-channel technology in the past several years have radically changed the nature of POS.

Shelton, Conn. – Executive consumers seek easier ordering when they shop online. According to a survey of 50 high-level executives who attended the Microsoft Dynamics Convergence Conference March 4-7 by EDI and e-commerce integrator Logicbroker, nearly three-quarters (72%) of respondents said that ease of ordering is the most important part of the online ordering process.

One-third (33%) said that better communication is the area that e-commerce companies have the most potential to improve.

Cranston, R.I. – During the 2013 holiday season, Alex and Ani turned to EBay Enterprise, an EBay Inc. company, to help drive sales and achieve higher ROI through its Facebook ads. Between Thanksgiving and Cyber Monday, the company’s Facebook ads drove $1.6 million

Burlington, N.J. – Burlington Coat Factory saw a 36% decline in its fourth quarter net income, which fell to $16.1 million from $25.3 million in the fourth quarter of fiscal 2012. The retailer plans to open 25 net new stores during fiscal 2014, including 22 in the fall, two in May and one in April.

Charlotte, N.C. – The Cato Corporation cited weather, holiday promotions and a 53rd week in fiscal 2012 as impacting its net income during the fourth quarter of fiscal 2013. The retailer also said it plans to open 64 new stores and close 17 existing stores during fiscal 2014.

Net income fell 52% to $3.8 million from $7.9 million in the same period the prior year, within previously announced guidance range, while sales dropped 7% to $215.2 million from $232 million.

Waban, Mass. -- Chick-fil-A and Sonic Drive-In deliver the best customer experience in the fast food industry, according to the 2014 Temkin Experience Ratings, an annual ranking of companies based on a study of 10,000 U.S. consumers.

New York -- Duane Reade and Poncho, a personalized weather-forecasting service that sends users relevant weather updates tailored to their preferences via text or email, are teaming up in a pilot program targeted to the New York Metropolitan area consumer. Poncho users will receive their regular weather updates with select alerts featuring coupons for Duane Reade products that will help them battle the elements and their allergies.

Grand Rapids, Mich. -- Meijer has added features to its mPerks program that allows customers to store digital receipts from purchases in a single place and details exactly how much they've saved by shopping at the Grand Rapids, Mich.-based retailer. The new features are available for subscribers who enable the digital receipts option on their accounts and enter their mPerks ID each time at checkout.  

New York – Merger talks between J. Crew and Japanese retailer Fast Retailing Co. have reportedly ended, at least for the time being. According to the Wall Street Journal, Fast Retailing, owner of the Uniqlo chain, left the discussions not long after they were made public by the media in late February 2014.