News

Kohl's surprises in third quarter
Strong back-to-school sales allowed Kohl's to upstage Macy's in the third quarter.

Kohl's revenue rose a better-than expected 1.2% to $4.43 billion in the period ended Oct. 31. Same-store sales rose 1%. Earnings fell to $120 million, or 63 cents a share, from $142 million, or 70 cents a share, a year earlier. Excluding a loss on the extinguishment of debt, adjusted per-share earnings were 75 cents a share, which also beat expectations.
Kohl's grows sales, but not by much
Strong back-to-school sales allowed Kohl's to upstage Macy's in the third quarter.

Kohl's reported that for the third quarter ended Oct. 31, same store sales increased 1%. It had net income of $120 million, or 63 cents per share, compared with net income of $142 million, or 70 cents per share, in the same period a year before. Revenue rose 1.2% to $4.43 billion.

Field and Stream goes omnichannel

Outdoor enthusiasts can now purchase outdoor goods from the indoor comfort of their homes.
Healey named to Target's board of directors

Target's board of directors has added a former executive of the retailer's largest supplier.

The board announced it has elected Melanie Healey, former group president, North America, of the Procter & Gamble Company, as a new director, effective immediately.
At Dick's, Black Friday is all about social media

While all the major retailers will be offering deals and discounts on Black Friday weekend, Dick's Sporting Goods plans to woo shoppers with an exciting social media promotion.
Amazon.com answers question, what’s for dinner?

Amazon.com has expanded its Prime Now restaurant delivery service to Los Angeles in a move seen as a precursor to expansion of the food ordering capability to all 18 market where the one-hour Prime Now delivery service is offered.
ShopAdvisor, Elle read into seamless shopping

Personalized shopping app ShopAdvisor and Elle magazine are turning readers into brick-and-mortar shoppers.

Elle and ShopAdvisor have released results of the August 2015 “Shop Now With Elle” proximity mobile marketing program. The program connected consumers to retailers and provided them with exclusive content and offers using location-based mobile technology, including beacons and geo-fences.
Report: This U.S. retailer is the world’s fourth-richest man

Amazon has scored another coup: Its CEO and founder, Jeff Bezos, now ranks as the fourth-richest man in the world, according to Bloomberg. The report puts his fortune at $58.2 billion. [Bloomberg]
Field & Stream wades into new channel

Outdoor enthusiasts can now purchase outdoor goods from the indoor comfort of their homes.

The specialty outdoor Field & Stream chain, a 19-store banner of Dick’s Sporting Goods, has launched its first-ever e-commerce website.
New café opens in Texas development

Top Pot Doughnuts will open its third Texas retail café at the new Richardson CityLine development located in Richardson.

The Seattle-based doughnut and coffee chain operates 20 stores in the Seattle-Tacoma and Dallas areas.

"We are thrilled to be a part of CityLine,” saidTop Pot Doughnuts co-founder Mark Klebeck. "We look forward to serving the businesses in this highly anticipated development as well as the residents of Richardson and Plano.”
Macy’s posts disappointing Q3; pursuing real estate options (but no REIT) and outlet growth

Macy’s Inc. on Wednesday blamed warm weather, weak tourist traffic and excessive inventory for the company's worse-than-expected third quarter results. The company said it will not pursue spinning off its properties into a real-estate investment trust, but that it is studying real estate options for some of its most iconic stores.
Update on American Apparel

American Apparel’s preliminary results for its third quarter are not looking very good.

The beleaguered retailer said it could not meet the deadline to file a quarterly report for the three months ended Sept. 30, noting that efforts related to its Chapter 11 bankruptcy filing in October have taken up a good deal of its time.

But American Apparel released estimates in which net sales for the quarter were down 19.1% to $126 million.