News

Express makes all the right moves in Q2
Columbus, Ohio -- Express Inc. soared in the second quarter as its profit tripled amid increased sales and profit margins and reduced promotional activity.

The retailer on Wednesday reported better-than-expected sales and profit for the second quarter. It also raised its full year outlook.

Express’ net income totaled $21 million, compared to $6.9 million, boosted by gross profit resulting from cost of sales growth that was significantly behind the rate of net sales growth.
Abercrombie swings to loss in Q2 but still tops Street
New Albany, Ohio – Efforts to change its merchandising and branding paid dividends at Abercrombie & Fitch Co., which reported smaller net loss and revenue decline than expected in the second quarter of fiscal 2015.

Abercrombie reported a net loss of $810,000, compared to net income of $12.9 million the same quarter a year earlier.

Revenue fell 9% to $817.8 million, from $890.6 million.

Chico’s Q2 tops forecast; to sell one of its divisions

Fort Myers, Fla. – Chico’s FAS Inc. on Wednesday released better-than-expected second quarter sales and earnings and also announced it was selling off its Boston Proper specialty women’s apparel business.

Earlier this year, the retailer launched a turnaround plan that includes closing some 120 stores through February 2017, cutting jobs and reducing spending.
New start-up aims to help retailers embrace social shopping

Los Altos, Calif. -- A start-up from the former head of Google Shopping, Nitin Mangtani, aims to make the “buy button” on social media a reality for consumers.

The company, PredictSpring, has created a technology platform designed to drive mobile commerce by improving and simplifying the way consumers shop on mobile phones and to easily enable “buy” experiences on brand and social media apps. Businesses using the platform include Cole Haan, Eddie Bauer, Bluefly and Woodcraft.
Target emphasizes design as it works to restore its old magic

New York -- Target is leaning on its product design and development team as its works to return to the days when shoppers flocked to "Tar-zhay" for fabulous design and inventive product, according to a report in Ad Age.

For a look inside the retailer's design lab, read the full story here.
Report: Mobile commerce to skyrocket

New York -- Global mobile commerce is set to explode, according to Coupofy.com, a Seattle-based database of online coupon codes.
The company predicts global mobile commerce will grow 42% annually between 2013 and 2016, compared to 13% for regular e-commerce. Mobile shoppers will spend an estimated $600 billion in 2018, up from $200 billion in 2014.

See more here.
Another online jeweler makes the leap

New York -- Roosevelt Field Mall in Garden City, New York, has nabbed yet another online jewelry company looking to test brick-and-mortar.
Walmart to stop selling assault rifles

New York -- Walmart plans to stop selling AR-15 assault rifles and other modern sporting rifles, a move the company says is motivated not by politics but by falling consumer demand.
And the leading mobile retailer is…

Seattle – Mobile shopping has been getting attention for its rapid growth, and one major retailer is leading the way.

According to new data from online coupon database Coupofy.com, Amazon.com is the leading mobile commerce retailer, with 110% growth in 2014, earning revenues of $16.8 billion.

Amazon is followed by Apple ($14 billion), Chinese store Jingdong Mall ($5.8 billion), Google Play ($4.4 billion), and QVC ($1.86 billion).
Walgreens manages energy expenses

Deerfield, Ill. - Walgreens is taking a smart approach to energy expense management.

The retailer expanded its use of EnerNOC's energy intelligence software to manage its utility bills at more than 8,300 sites across the U.S.
Tully’s revels in mobile POS capability

Seattle – Tully’s Coffee is reveling in a new mobile POS capability.

More precisely, Tully’s has selected Revel's iPad POS systems to be deployed across 46 corporate stores located in the western U.S.

The lightweight Revel hardware decreases the amount of counter space used, connects to the cloud and seamlessly integrates with Tully's current Synergy loyalty platform. Tully’s can also track inventory, manage payroll and provide analytics in real time.
H&M to award a prize for recycling innovation

H&M is looking to appeal to eco-conscious millennials with a lucrative contest that promotes recycling.

The Swedish retailer announced that it will fund the Global Change Award. Five winners will share a grant of 1 million euro ($1.16 million) and receive access to a tailor-made innovation accelerator. The global public will be invited to distribute half of the total grant through an online vote. The results will be announced at a grand award ceremony in Stockholm in February.