News

Macy's makes progress in Q2
Macy's appears to be making some headway in its turnaround efforts, reporting second quarter sales and profit that topped estimates. But the retailer still reaffirmed its downbeat guidance for the year. Net income increased to $116.0 million, or 38 cents per share, up from $11.0 million, or 3 cents per share, in the year-ago period. Adjusted earnings per share was 48 cents.
New Oregon law impacts employee scheduling in stores
Oregon has become the first state in the nation to pass legislation that puts an end to on-call scheduling by guaranteeing hourly employees advance notice of their work schedules.

CEO turnover up in July — and not just in retail

The month of July saw a big turnover at the top.
Toys ‘R’ Us to make Times Square return — for a limited engagement

After a nearly two-year absence, Toys "R" Us is returning to Times Square — but not on a permanent basis.
Kohl's looking better in Q2

Increased traffic gave a boost to Kohl's, which reported sales and earnings that topped analysts’ estimates in the second quarter. The company's net income rose to $208 million, or $1.24 per share, in the quarter ended July 29, from $140 million, or 77 cents per share, in the year-ago period.
Strong online growth helps Nordstrom top Q2 estimates

Nordstrom on Thursday reported positive results for its second quarter amid ongoing discussions of a possible buyout. The upscale department store retailer reported that total net sales increased 3.5% to $3.79 billion in the quarter ended July 29, compared to a forecast for $3.75 billion. Total company same-store sales rose 1.7%, also better than expected.
Parent company of Winn-Dixie and Bi-Lo taps veteran grocery exec as CEO

Southeastern Grocers has made a temporary appointment permanent. The supermarket operator, parent company of Winn-Dixie, Bi-Lo, Fresco y Más, and Harveys, has appointed Anthony Hucker president and CEO, effective immediately. Hucker has served as interim president and CEO since July 1, 2017.
Specialty retailer emerges from Chapter 11 — on hunt for new CEO

After eliminating in excess of $435 million in funded debt. Payless ShoeSource has emerged from bankruptcy — with a slimmed down U.S. portfolio and a cleaner balance sheet.
Study: One-fifth of emails never hit shopper inboxes

With 20% of emails being filtered into spam folders, retail marketers are missing out on the opportunity to drive an ROI from email. This was according to “2017 Deliverability Benchmark Report,” a study from data solutions provider Return Path. The report analyzed 2 billion brand emails.
Commentary: Real chance of a turnaround at Macy's, but...

After a torrid opening quarter, Macy's second quarter numbers come as a relief. Certainly, a same-store sales decline of 2.8% is far from good, but it is one of the better performances Macy's has turned in over recent periods. Of course, the question is whether this gentler decline represents a genuine turning point for Macy's, or whether it is simply a bottoming out after years of sharp deterioration.