News

QVC names new head of technology
Todd Sprinkle has been appointed CIO at QVC. Sprinkle, who served as the company’s VP, IT strategy, planning and effectiveness, will now oversee QVC's global IT organization spanning the U.S., U.K., Germany, Japan, Italy, France and China, and at QVC's global business service operation in Poland. Under his leadership, QVC’s IT team will continue delivering a seamless and engaging multi-platform experience for customers and team members, globally.
Lululemon tops estimates in Q3; confident about holiday
Consumers’ demand for stylish workout wear no shows on slowing down. Lululemon Athletica Inc.’s sales rose 13% to $544.4 million, surpassing Wall Street estimates. Total comparable sales, which includes comparable store sales and direct to consumer, increased by 7%. Same-store sales rose 4%. Profit in the quarter was 47 cents a share, excluding some items. Analysts estimated 43 cents on average.

Getting Smart about Retail Lighting with LEDs

When it comes to retail operating costs, energy is one of the top three expenses. Lighting is of course a component of this, accounting for 50% of energy costs for non-food retailers. Each square foot of a typical retail store costs roughly $0.71/SF/year – a cost that quickly adds up at the store and chain level.^{1, 2, 3}
Convenience-store operator ramps up store growth

Casey’s General Stores continues to grow its store portfolio. The Iowa-based convenience-store operator currently has 39 new stores, 22 replacement stores, and 37 major remodel stores under construction. Looking ahead, Casey’s has 84 sites under contract for future new store construction and 15 acquisition stores under contract to purchase.
Costco’s switch to Visa is paying off

Costco Wholesale Corp. a better-than-expected quarterly profit, helped partially by lower fees to credit card partner Visa. Costco, which completed its switch to Visa from American Express during the fourth quarter, said net income rose to $545 million, or $1.24 per share, in the first quarter, ended Nov. 20, from $480 million, or $1.09 per share, in the year-ago period. (The retailer’s profit in the latest quarter included a $51 million gain from a legal settlement.)
Commentary: Sears like Titanic, ‘looks set to sink’

(Ed. note: Neil Saunders, CEO of Conlumino, comments on Sears Holdings’ third-quarter results.) In the movie Titanic there is a line where, realizing chaos is about to en-sue, one character helpfully notes “it’s starting to fall apart; we don’t have much time”. Such a sentiment could well be applied to Sears. The analogy with Titanic is also apt; not least because while Sears was once a titan of US retail, it now looks set to sink.
American Dream’s new look is unveiled
Target, Baton Rouge

A store transformed — that’s how Target refers to its Baton Rouge East (Louisiana) store which has re-opened its doors after sustaining massive damage from the floods that devastated the area in August.
Things getting worse at Sears as Q3 loss widens on sliding sales

Sears Holdings Corp.’ woes mounted in the third quarter, as the struggling retailer reported its 20th consecutive quarterly loss and another drop in same-store sales. Although Sears CEO Eddie Lampert said Sears is “fully committed to restoring profitability,” the retailer’s disastrous quarterly performance caused some industry experts to say Sears’ demise is now a matter of when, not if.
Dunkin’ Donuts has big expansion plans for Dallas

Dunkin’ Donuts is expanding its footprint in Texas. The chain signed multi-unit store development agreements with four existing franchise groups to develop approximately 65 new restaurants in Dallas-Fort Worth and the surrounding area. The new restaurants will include several multi-brand locations with sister brand Baskin-Robbins, the world's largest chain of ice cream specialty shops.