News

Bed Bath & Beyond Inc. reported less-than-expected earnings for its third quarter, hurt by continuing higher expenses and flat sales.   The retailer’s profit dropped to $126.4 million or $0.85 per share, from $177.8 million or $1.09 per share in the year-ago period.    Sales inched up 0.1% to $2.96 billion, also lower than expected.  

While Finish Line notched up reasonable overall sales growth in its third quarter, this has been overshadowed by both very weak comparables and an almost doubling of net losses to $40.4 million.     Overall, the results are markedly worse than last quarter when total sales grew by 5.4%, aided by a 5.1% growth in comparables.  

Just in time for holiday entertaining, BJ’s Wholesale Club members can now place deli and bakery orders online.   The service, which augments BJ’s e-commerce program, enables members to place orders for deli platters, sandwiches and 3-ft. subs, freshly baked cookies, pastries and customizable cakes and cupcakes. All merchandise is provided by Wellsley Farms, according to the retailer’s website.  

The future of retail is mobile. Yet, brands are failing to keep pace with consumer expectations.

The future of retail is mobile. Yet, brands are failing to keep pace with consumer expectations.  

Dollar sales for holiday 2016 are trending lower than last year — with some exceptions — and retailers are partially to blame.   According to The NPD Group’s weekly point-of-sale results for key general merchandise categories across in-store and online channels, dollar sales in the sixth week of the 2016 holiday shopping season  were 5% lower than the same week in 2015. Cumulatively, dollar sales in the first six weeks of the 2016 holiday shopping season were 4% behind the first six weeks of the 2015 holiday season.

Limited Stores LLC is planning to file for Chapter 11 bankruptcy protection within weeks, Bloomberg reported, and will most likely liquidate its business.  

REI continues its efforts to lead on sustainable operations.    The retailer’s newest distribution center, in Goodyear, Arizona, has achieved LEED (Leadership in Energy & Environmental Design) Platinum certification — the highest level in the U.S. Green Building Council’s green building rating system — making it the first DC in the U.S. to achieve both LEED Platinum certification and Net Zero Energy.     

Ikea stores are so inviting that some teens want to spend the night.   Ten of the Swedish home furnishing giant’s stores across the world have been the location of illegal sleepovers, BBC News reported.   

The Container Store and Southwest Airlines are teaming up to surprise harried holiday travelers passing through airports across the nation.   Starting Thursday, Dec. 22, the partners are easing holiday stress for travelers by offering complimentary gift wrapping. The service is available between 10 a.m. and 3 p.m. at the following 10 airports:   • Chicago (Midway) International Airport • Dallas (Love Field)  • Denver International Airport