News

Foot Locker quickens its pace
Enhanced onmichannel capabilities were among the factors that incoming Foot Locker CEO Dick Johnson cited as contributing to the company’s increase in third quarter profits and same store sales.

Profits for the third quarter climbed to $120 million, or 82 cents per share, compared with profits of $104 million, or 70 cents per share, in the prior-year quarter. Third quarter same store sales increased 6.9% to $1.7 billion this year, compared with sales of $1.6 billion for the prior-year period.
And the 10 biggest myths of holiday spending are….
New Canaan, Conn. - Count on Customer Growth Partners president and CEO Craig Johnson to provide a refreshing break from the standard Black Friday forecast. Here’s his take on the top 10 retail-related holiday myths of 2014:

X Team International reports $746 million in 3Q transactional volume

Boston - X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S. and Canada, released third quarter transactional volumes totaling $746 million, bringing its year-to-date transactional volume to more than $2.24 billion.
It’s the blackest Friday ever for Alco

Alco Stores is offering retailers a cautionary holiday tale this Christmas as going-out-of-business sales have begun at the regional discounter’s 198 locations.
Analysis: Retail Forecast 2015

By Phillip M. Perry New York - Blue skies and cool breezes. That’s the economic forecast as the calendar turns for a new year. Retailers looking to bolster revenues and profits over the next 12 months should benefit from a gradual improvement in the ability and willingness of shoppers to spend.
Gap misses in Q3; details omnichannel moves

San Francisco – Gap Inc. failed to meet Wall Street expectations for net income and revenue in its third quartet as its namesake brand continues to struggle. The retailer cut its annual forecast as sales at its namesake brand continue to fall, Gap’s net income rose 11% to $351 million from $337 million, helped by lower cost of goods sold and taxes.
Tech Guest Viewpoint – Surviving the Holiday Season, Week by Week

By Christopher Lester, Emma If you’re like me, you might still be in denial over the date on the calendar. But it’s true: The holidays are well upon us. Yes, it’s the most wonderful time of the year. But let’s be honest: It’s also one of the most stressful times of the year, and the busiest to boot.
Serving big men yields big results at DXL

Clothes aren’t the only thing big at Destination XL as evidenced by a double digit third quarter comp increase aided by omnichannel integration.

Sales at Destination XL increased 5% to $93.6 million, compared with $88.7 million in the prior-year quarter. Same store sales increased 5.5%.
Nasty Gal makes its move from clicks to bricks

LOS ANGELES - The wait is over: Nasty Gal, the teen-fave online player with a cult following, has opened its first retail store, on Melrose Avenue in the heart of Hollywood, California. "We've been having a dialogue with our gal for eight years this month and to celebrate that, we're taking the conversation offline," said Sophia Amoruso, CEO and founder of Nasty Gal, and author of the best-selling #GIRLBOSS book.
Hibbett Sports on track for 1,000 stores

Hibbett Sports reported relatively flat third quarter same store sales, but the company achieved record new expansion and is prepared to surpass 1,000 units in 2015.

For the third quarter, Hibbett posted profits of $16.9 million, down from $17.3 million in the prior-year quarter. The decline was mainly due to markdowns related to slow selling and aged inventory, the company said.