News

North Wilkesboro, N.C. – Despite discussions about the need for retailers to develop a “social media strategy,” the reality is that social media is not a monolithic entity. Different social media platforms reach different types of consumers, are used for different purposes and draw traffic at different times of the day. Thus, a social media strategy really needs to be a collection of smaller strategies that are built around the dynamics of each individual platform a retailer chooses to leverage.

TORONTO — A same-store sales decline at Lord & Taylor was not enough to keep Hudson's Bay Company's first quarter results for the period ended May 4 in the cold, thanks to strong same-store sales growth at Hudson's Bay.

The company's retail sales were $884 million for quarter, a 4% increase from $848 million for the first quarter a year ago. Consolidated same-store sales grew 4% in the first quarter. Hudson's Bay same-store sales grew nearly 8%, and were partially offset by a same-store sales decline of 1.4% at Lord & Taylor.

A 4.2% first quarter same store sales increase at teen retailer Five Below and better than expected results prompted the operator of 258 stores to increase its full year guidance.
 
Sales for the quarter ended May 4 increase 33.1% to $95.6 million and operating income swung to $3.2 million from a prior year loss of $2 million. Net income was $1.6 million compared to a net loss of $1.2 million the prior year.

Royal Ahold CEO Dick Boer and Nestlé CEO Paul Bulcke are the new co-chairs of global packaged goods organization the Consumer Goods Forum.
 
The selection of Boer and Bulcke was announced in conjunction with the CGF’s Global Summit in Tokyo. The pair replace outgoing co-chairs Muhtar Kent of the Coca-Cola Company and Gareth Ackerman of Pick n Pay. Ackerman and Denise Morrison, CEO of Campbell Soup Company, were appointed vice co-chairs of the forum.

MIAMI — PureFormulas, a growing e-retailer that offers natural health supplements, has appointed William Perez as its CIO. Perez is a 17-year veteran in the technology world with 13 years of experience in the Internet operation space.

“We’re excited to welcome Willy to the team,” said CEO José Prendes. “He will be instrumental in our continued growth strategy and will help take our entire interactive operation and customer experience to the next level.”

Toronto -- Hudson’s Bay Company (HBC) had an overall successful first quarter of fiscal 2013 despite some sluggish performance at its Lord & Taylor banner.

The company reported gross profit of $356 million for the quarter ended May 4, up 4% from $341 million a year earlier. Retail sales also grew 4%, from $848 million to $884 million. Consolidated same-store sales increased 4% as well.

GREEN BAY, Wis. — Shopko plans to open five new Shopko Hometown stores in Afton, Wyo., St. Peter, Minn., and Winneconne, Ellsworth and Tomahawk, Wis., in late fall.

Minneapolis -- The Target board of directors demonstrated confidence in the company’s cash generating capabilities on Wednesday and agreed to up the company’s quarterly dividend 19% to 43 cents a share.
 
The hefty increase ups the annual payout to $1.72 and moves the company closer to a long-term commitment to increase the full-year dividend amount to $3 by 2017. In addition, the company has established a target of growing earnings per share to $8 over the same time frame, up from $4.26 last year.