News

Carter’s, parent company of Carter's and OshKosh B'gosh, reported record sales in the third quarter, driven primarily by growth in the company’s Carter's brand and international businesses.

“Our growth reflects the strength of our brands and multi-channel business model,” said chairman and CEO Michael D. Casey. “We believe we are well-positioned with strong product offerings and compelling promotions heading into the holiday season and expect to achieve our growth objectives this year."

New York -- The Millennial generation is expected to outspend Baby Boomers by 2017, yet retailers underestimate the size and purchasing power of this consumer, according to a new study by Berglass + Associates and Women’s Wear Daily.

The study, “What Happens When Millennials Get the Wallet,” found that retailers do not fully understand the needs of Millennials and are employing business strategies and tactics that do not apply to this customer.
 

Sam’s Club opened four new 136,000-sq.-ft. units this week expanding its base of clubs to a record 630 units.

The new clubs are located in Owasso, Okla., Fall River, Mass., and Mansfield and Corpus Christi, Texas. The latter is a relocation of a 20 year old club. These opening follow the addition of three new clubs earlier in the month in Aiken, S.C., Romeoville, Ill., and Edmond, Okla.

Colgate-Palmolive announced that during the third quarter, new product launches in the United States contributed to volume growth across categories and market share gains were seen in categories such as manual toothbrushes, powered toothbrushes, mouthwash and body washes.

Amazon.com continued to lose money during its third quarter, although considerably less than a year ago, as its sales advanced 24% to more than $17 billion.

After the market closed on Thursday, Amazon reported a net loss of $41 million, or nine cents a share, during the quarter ended September 30, versus a net loss the prior year of $274 million, or 60 cents a share. The reduced loss coupled with sales of $17. 1 billion which exceeded analysts’ estimate of $16.8 billion caused shares to surge in after hours trading.

Mountain View, Calif. – Coupons.com Inc. has hired Mir Aamir, former president of loyalty and digital technologies at Safeway Inc., as the company’s COO and CFO. Aamir brings more than 18 years of finance, strategy and operating experience, primarily in the retail CPG industries.

Target is getting ready for the holidays with a big multichannel push that includes expanding its in-store pick-up program for products ordered online to all of its U.S. stores by Nov. 1 — a service that is now available in about half of the chain’s locations.

Target will run an ad campaign Dec. 1 through Dec. 3 that promotes deals during Cyber Monday and the rest of Cyber week.

Brentwood, Tenn. – Tractor Supply Company reported that net income for the third quarter was $64.8 million, up almost 30% from net income of $50 million in the same quarter a year earlier. The company also announced the opening of its first store in Wyoming, as it continues to expand into the Western region of the country