News

SEATTLE — Nordstrom is relocating its full-line store located at South Bay Galleria three miles south to a two-level, 138,000-sq.-ft. location at the Del Amo Fashion Center that will open in 2015.
 

NEW YORK — Iconix Brand Group has acquired the Umbro brand from Nike for $225 million in cash.

The purchase price was funded with Iconix’s recently completed $600 million securitized financing facility, which gives the company flexibility to pursue other deals. Iconix chairman and CEO Neil Cole alluded to that possibility in commenting on the Umbro acquisition.

Solon, Ohio -- Black Friday and Cyber Monday does not always mean lower prices, according to a study by ECRM Analytics that examines Black Friday and Cyber Monday promotions. The analysis exposes many common misconceptions around these two important shopping days.

ECRM found that when comparing Black Friday deals to other times throughout the year, it is apparent that holiday prices are not always the lowest, with leading retailers promoting higher prices than previously advertised on toys and consumer electronics.

The Woodlands, Texas -- Conn's returned to a profit in its third quarter as the chain booked fewer charges and sales of furniture and mattresses improved. The company raised its fiscal 2013 forecast.

Conn’s, which also sells home appliances, consumer electronics and other items, posted a better-than-expected net income of $11.8 million for the three months ended Oct. 31, compared with a net loss of $12.7 million in the year-ago period. 

Revenue increased 11% to $206.4 million from $186.6 million. Same-store sales rose 12.6%.

By Joe Erdeman

Through the first 30 days of the holiday season online sales have surpassed $20 billion with several days last week above the $1 billion mark.

By Marcus Ranum, [email protected]

Security practitioners have plenty of opportunity to be extra-glum during holiday season: it’s the time of year when a breach can have maximum impact – avoiding downtime and disruption is critical and your systems are going to be processing more credit cards than any other time of the year.

Same store sales in November at Target plunged unexpectedly while apparel discounters and Costco kept humming and Kroger extended its string of consecutive comp increases to nine years.

The nations second largest grocer this week reported a third quarter profit, excluding some non-recurring items, of 46 cents that was three cents better than analysts forecast and its identical store sales increased by 3.2%. Total sales including fuel for the period increased 5.9% to $21.8 billion.