News

Fred’s reveals impact of Thanksgiving closure
Many retailers opened on Thanksgiving this year but regional discounter Fred’s remained closed and the impact of that decision was evident when the company reported a 2.3% decline in November same store sales.

Fred’s stores were open on Thanksgiving Day last year, but the operator of 702 stores closed its stores this year which made for a challenging comparison against the prior year period.
Study – Americans will save on gifts with loyalty points
Cincinnati – Ever wonder what to do with all those unused loyalty points you probably have floating around? According to a survey of 1,000 U.S. consumers by loyalty intelligence provider Colloquy, six out of 10 shoppers intend to use points they’ve earned through customer-loyalty programs to save money on holiday gift-buying this year.

That represents a 22% increase in the number of shoppers who are planning to cash in reward points on gift purchases, compared to the 2013 holiday season.

Target turns stores into mobile game for the holidays—with help from Google

Minneapolis - Target Corp. continues to invest in new mobile and digital investments to drive traffic. The retailer announced it is partnering with Google on an interactive mobile game experience that has a big in-store component. The project is part of Google’s Art, Copy & Code program, which Google describes as partnerships that explore how creativity and technology can work hand in hand to build brands.
Shoppers prefer mobile devices over store employees, in-store info

ARLINGTON, Va. - More than half (58%) of shoppers who use mobile devices say they prefer to look up information on their devices while shopping, rather than talk to store employees – especially among men and shoppers aged 25-44 - according to a new by the Consumer Electronics Association (CEA). Additionally, 62% of mobile shoppers indicate they perceive the information they gather via their mobile device as more beneficial than the information available in-store via product displays or sales literature.
Fred’s November sales rise 2%, comps fall

Memphis, Tenn. - Fred's Inc. total sales for November 2014 increased 2% to $154.3 million from $151.2 million in November 2013. Same-store sales for the month decreased 2.3% compared to flat sales in the same period last year.
Fred’s said that same-store sales were in line with previously issued guidance and that the decision to close stores Thanksgiving Day pushed same-store sales from flat to negative growth.
Something’s cooking at Barnes & Noble

The nation’s largest retail bookseller has dreamed up another innovative way to drive traffic to its stores.

Barnes & Noble has announced that it will be sponsoring the Barnes & Noble Cookie Bake-Off, a contest in which customers can submit cookie recipes for a chance to win prizes and have their winning cookies sold in Barnes & Noble stores.
Look out, Google Glass: Luxottica, Intel partner on wearable tech

Miami – Google Glass has some competition on its hands. Luxottica Group S.pA. is launching a multiyear R&D collaboration with Intel Corp. to create eyewear infused with smart technology.

The ultimate goal is to deliver smart, fashion-forward products that are meaningful and desirable to consumers. The first product from Intel and Luxottica is expected to launch in 2015.
Holiday shopping just one big video game at Target

Facing a holiday shopping season in which consumers will be more digitally engaged than ever, Target is partnering with Google to introduce a new mobile experience aimed at driving traffic to its stores.

Bullseye’s Playground is a mobile game experience featuring Target’s bull terrier mascot Bullseye and other characters. In select Target stores, guests will have the opportunity to immerse themselves in Bullseye’s Playground using Google’s new Project Tango Development Tablet, which will transform the store into a 3D winter playground.
Abercrombie swings to profit in mixed Q3

New Albany, Ohio – The cool kid might still be cool, after all. Abercrombie & Fitch reported net income of $18.2 million in the third quarter of fiscal 2014, compared to a net loss of $15.6 million in the same period the prior year and beating Wall Street forecasts.
Walgreens sales up 4.9% despite new generics

Despite revenue losses from the introduction of new generic drugs, Walgreens announced that same store sales grew 4.5% in November, with total sales, including stores open less than a year, also increasing 4.9% from last year.

The company posted November sales of $6.4 billion, an increase of 4.9% from the prior year. Same store sales across the pharmacy increased by 6.7% and front-end same-store sales were up 0.8%.