News

Dallas -- The Container Store Group, Inc. has completed its IPO of 14.375 million shares of its common stock at a price to the public of $18 per share, including 1.875 million shares sold in connection with the full exercise of the option to purchase additional shares granted to the underwriters.

San Jose, Calif. -- Despite the shortest shopping season since 2002, online sales look strong for the upcoming holidays. A new survey from Adobe predicts record growth for online sales on Thanksgiving with $1.1 billion and Black Friday with $1.6 billion, increases of 21% and 17%, respectively.

Wayne, N.J. – Toys “R” Us is debuting the Toys"R"Us Toy Channel, the company's revamped and updated YouTube channel. The channel launches with eight playlists, segregating content by topic to showcase in-demand playthings and new products, interviews with toy industry experts, current commercials from the beloved brand and top toy manufacturers, and more.

Foothill Ranch, Calif. – The Wet Seal reported net sales of $127.7 million during the third quarter of fiscal 2013, down 5.8% from the same quarter in the prior year. In a partial release of third quarter figures, the company also reported a 0.8% increase in same-store sales.

Los Angeles -- Earlier in October, shoppers were put off by holiday displays in store; now people are warming up to them. Analysis of social media buzz for the week of Oct. 30 – Nov. 5 by social media research firm Fizziology shows that positive conversation about displays rose from 15% to 22%, while negatives dropped from 10% to less than 1%.

Austin, Texas – Smartphones are starting to edge out other popular forms of consumer technology as holiday gifts. According to a new survey from RetailMeNot and The Omnibus Company, within the next five years, less than one-in-five winter holiday gift givers plan to buy someone a portable music player (19%), desktop computer (19%), GPS device (13%) or regular cell phone (9%) for the holidays.

Plano, Texas – J.C. Penney says it is making continued progress in its turnaround after reporting some strong financial results for October 2013. Preliminary results indicate that compared to the same month in the prior year, same-store sales increased 0.9%, online sales grew 37.6%, and conversion continued to improve, which Penney says reflects favorable customer response to promotional events and improved inventory levels.

I’m sure I’m not the only one who has begun to notice some changes in that most iconic of holiday shopping events: Black Friday. From earlier start times, to new and more elaborate marketing and promotional efforts, Black Friday has evolved into something very different than a one-day holiday season kick-off sale. This year, we are already seeing an expansion of that trend, including changes that might give us insights into the mindset of many brick-and-mortar retailers as they prepare for the final sprint to the seasonal finish line.

J.C. Penney scored a major victory during October with same stores sales up 0.9%. That may not seem like much, but for a company that has been written off by many the meager increase offers an encouraging tailwind heading into what retailer’s nationwide expect to be a challenging holiday season.

Scotts Miracle-Gro has made up for lost time in the second half of the year, finishing with fiscal year sales essentially flat from the previous year.

The company's full year net sales were $2.82 billion, after a 9% increase in the second half, including a 10% increase in the fourth quarter.