News

PacSun beats Street; 11th quarter of same-store sales increases
Anaheim, Calif. – Pacific Sunwear of California Inc. reported a $469,000 net loss in the third quarter of fiscal 2014, compared to net earnings of $17.7 million the same period the prior year. The loss, which included a charge stemming from a $60 million term loan with Golden Gate Capital, was smaller than expected by Wall Street and driven by one-time charges. Net sales were $212.3 million, up 4.4% from $202.8 million. Same-store sales rose 4%.
Barnes & Noble Q3 profit slips, ends Nook deal with Microsoft
New York – Consolidated net earnings dropped 8% at Barnes & Noble Inc. in the third quarter of fiscal 2015, to $12.3 million from $13.2 million. An increase in selling, general and administrative (SG&A) expenses helped drive the drop in profit. Second quarter consolidated revenues decreased 3% to $1.69 billion from $1.75 billion.

Cyber Monday retains digital dominance

The dynamics of Thanksgiving weekend retail activity continue to evolve, but Cyber Monday still rules with sales that topped $2 billion for the first time ever this year.
Study – Omnichannel retailers win Cyber Week; growing demand for in-store pickup

San Luis Obispo, Calif. - Omnichannel retailers that provide cross-channel offers to their customers are the big winners emerging from this year’s “Cyber Week.” Data from Shopatron shows that forcing customers into buying frenzies on specific days is losing favor, and that retailers who focus on meeting cross-channel consumer demand with ever increasing levels of service are realizing the benefits.
The next big thing in footwear retail

Footwear is one of the hottest segments of retail these days and Boot Barn is ready to capitalize on the growing market.

The company reported a 7.3 percent increase in same store sales and reversed a prior year loss during its second quarter ended September 27, its first financial report since completing an initial public stock offering on Nov. 4.
Watch out Starbucks—Martha Stewart to open a cofffe shop

NEW YORK - Lifestyle guru Martha Stewart plans to open a coffee shop in New York.

A spokeswoman for Martha Stewart confirmed Wednesday that plans are in place for the company to open a New York coffee shop. She declined to offer more details, such as when it will open.

The shop will be located in Manhattan’s Chelsea neighborhood, the Associated Press reported, in the same building where Stewart’s company— Martha Stewart Living Omnimedia Inc.—is based holds the company's headquarters.
Kantar Retail: Black Friday diluted as promotional activity timeline expands

Boston - A new study shows just how diluted Black Friday has become to holiday shoppers: Twenty-eight percent of shoppers shopped in stores Nov. 22/Nov. 23 and 34% of shoppers chose to shop in stores the weekend after Black Friday (Nov. 29/Nov. 30), while 25% shopped on Black Friday, according to Kantar Retail.

In other results, 65% of shoppers surveyed chose not to shop because of crowds while 42% stayed out of stores to avoid traffic.
Target data breach lawsuits to go forward

A federal judge says several banks suing Target Corp. over its 2013 data breach have a plausible case for negligence and can proceed with the lawsuit.
Claire’s Stores Q3 disappoints

Chicago – Claire’s Stores Inc. had a disappointing third quarter, slightly increasing its net loss to $26.82 million from $25.47 million. A variety of expenses continued to outweigh Claire’s gross profit.
Vera Bradley hires store design icon

Vera Bradley has announced a new head of store development as it looks to reimagine Vera Bradley into a premium global lifestyle brand.

Harry Cunningham, who has nearly 25 years of experience in store design and visual merchandising, has been with Saks Fifth Avenue since 2006 and most recently held the post of SVP of Store Planning, Design and Visual Merchandising. Prior to that, Cunningham held various visual merchandising roles at Liz Claiborne, Saks Department Store Group and Dillard's.