News

DSW meets Q2 profit, misses sales
Columbus, Ohio – DSW Inc. met Wall Street expectations for profit but did not grow revenues as much as projected during a mixed second quarter of fiscal 2015.

Costs and expenses increased at a slower rate than sales, allowing net income to improve 9% to $37.61 million, from $34.33 million in the prior year period. Net sales increased 7% to $627.2 million, from $587.1 million. Same-store sales rose 1.8%.

Mike MacDonald, president and CEO, also attributed rising profits to merchandise selling strategy.
10 Tactics to Improve the Shopper Experience
An altered retail landscape and new consumer are remaking the shopper journey and path-to-purchase. Here are 10 tactics to improve the shopper experience that every retailer needs to know:

1. Bridge the online to offline experience: Expectations are high; online shoppers seek a personalized and efficient experience. Customers now expect price consistency across channels, the ability to buy online and pick up or return in store and a range of payment options.

Best Buy is winning again

Recent turmoil in the stock market hasn’t dimmed Best Buy’s outlook for the third quarter while the release of better than expected second quarter results has validated the company’s strategy, according to CEO Hubert Joly.

Strength in categories such as major appliances, large screen televisions and mobile phones, offset by weak tablet sales, helped Best Buy achieve a 2.7% domestic same store sales increase and pushed revenues up 3.9% to $7.9 billion during the second quarter ended August 1. Online comparable sales increased 17%.
DSW's new strategy pays off in second quarter

DSW says its investments in becoming a more “customer-centric” company are paying off, as the retailer reported sales and earnings growth in the second quarter.
Target to pay millions in hiring discrimination case

Target Corp. has agreed to pay $2.8 million to resolve a hiring discrimination claim filed by the U.S. Equal Employment Opportunity Commission.
The Children's Place no longer the place for shoppers?

Traffic problems and increased discounts led specialty apparel retailer The Children’s Place Inc.
The Children's Place no longer the place for shoppers

Specialty apparel retailer The Children’s Place Inc. saw its net loss grow and net sales drop in a difficult second quarter of fiscal 2015.
For back-to-school, Lands' End also offers parenting advice

Just in time for back-to-school, Lands' End has a new partner for bringing moms and dads the latest information on parenting and child development, enabling them to get back into the new school year with ease.

The retailer is teaming up with the Child Mind Institute to create digital content that helps parents raise strong, compassionate and curious kids.
Instacart now delivering in another major city

Fast growing e-commerce firm Instacart is now delivering groceries to a 17th major U.S. metropolitan area.

Beginning this week, customers can order from Whole Foods Market, Costco (no membership needed), Marsh Supermarkets, Georgetown Market and Petco stores and have everything delivered by Instacart in as little as one hour.
Picking paint is now a snap at Sherwin-Williams

Sherwin-Williams is launching a new omnichannel tool designed to radically simplify how customers pick a paint color.

ColorSnap is a comprehensive system with an in-store display that helps customers select colors -- in 60% less time than with the previous display, according to in-store testing conducted by Sherwin-Williams. ColorSnap will also be available for iPhone, iPad, Android and online, allowing customers to scan each take-home color chip for instant access to inspirational room scenes.
Amazon.com gets boozy in Seattle

Not only is Amazon.com launching its one-hour Prime Now delivery service in its hometown of Seattle, but it's also adding a whole new category of deliverable products.

The retailer announced Tuesday it will add wine, beer and spirits to its assortment of eligible products for Prime Now delivery.

Seattle becomes the first U.S. city to include alcohol in the assortment of products eligible for the quick-delivery service.
What retailers can learn from the Smithsonian

What could a 169-year old federal institution responsible for millions of the country’s most important artifacts, history and information possibly teach the retail industry? Plenty it seems.