News

Stein Mart can't keep up momentum
Stein Mart says warm weather is to blame for its lackluster performance in the third quarter as the company makes plans to increase promotions to improve its top-line growth.

The off-price retailer said that for the third quarter ended Oct. 31, same-store sales fell 2.3%. Total sales also dropped 1% to $300.7 million during the same time period. Profits dipped to $82.2 million, or 27.3% of sales compared to $84.6 million or 27.8% of sales during the same time period in 2014.
Warm weather no excuse for weakness at Stage Stores
After reporting a sales decline and third quarter loss, Stage Stores offered a unique explanation due the location of its 847 stores.

The company’s sales and same store sales both declined 3.5% and a net loss of $9.4 million equated to an earnings per share loss of 29 cents, compared to a prior year earnings per share loss of 16 cents.

Study: Millennials follow holiday shopping traditions

Black Friday and Cyber Monday may still be cool, after all.

A new study on the holiday shopping habits of almost 7,000 millennials by product discovery platform Influenster shows that 93% of respondents plan on shopping Black Friday and/or Cyber Monday this year.
Salesforce: Holiday shoppers want seamless experience

Retailers looking to satisfy customers this holiday season need to be sure all channels are aligned and working properly.

The new "2015 Connected Shoppers Report” of more than 2,000 adults commissioned by Salesforce and conducted by Harris Poll demonstrates that in order to succeed, retailers need to accelerate digital transformations to provide personalized, one-to-one customer journeys.
Specialty grocer stocks up on supply chain compliance

Bristol Farms, a 13-store specialty grocery chain, is making food safety a priority.

The Carson, California-based retailer has selected technology from ReposiTrak Inc. to manage regulatory and business documentation compliance within its supply chain.
Specialty retailer shines with record sales and earnings

A specialty retailer that is defined by consistent same-store increases for the past three quarters, an over-the-top televised fashion show and loyal customers who still love its in-store experience has chalked up another record quarter.

L Brands, the parent company of Victoria's Secret and Bath and Body Works, kept its winning streak going in the third quarter ended Oct. 31. Same-store sales increased 7%. Net sales rose 7% to $2.48 billion.

Net income rose 24.4% to a better-than-expected $164 million, compared to $131.8 million last year.
Weak traffic trend hits Kirkland's

The CEO of Kirkland's blamed disappointing third quarter sales on traffic problems that he expects to persist into the fourth quarter despite the busy holiday season ahead.
This retailer needs more shopping centers

Amid growing sales and surging profits, specialty retailer Cato is finding its expansion efforts being held back by the availability of suitable shopping centers.
Holidays not looking so happy for Best Buy

More robust omnichannel capabilities have Best Buy CEO Hubert Joly confident about his company’s ability to execute during the holidays, but his views on overall demand for consumer electronics are another matter.

Best Buy said it expects weak demand for consumer electronics in the fourth quarter and forecast flat same-store sales at domestic locations following a 0.5% third quarter comp increase that was aided by an 18% online increase.
Shoppers can't get enough of lotion and lingerie

How many retailers have boasted of record sales and earnings in the third quarter? So far the answer is only one (hint: It hosts a bra and panty show on national television every fall).
Holidays not look so happy for Best Buy

More robust omnichannel capabilities have Best Buy CEO Hubert Joly confident about his company’s ability to execute during the holidays, but his views on overall demand for consumer electronics are another matter.
5 myths about digital gift cards

Digital gift cards are less risky than retailers think, and that’s not the only common piece of online fraud “wisdom” that is false.