News

GNC falls short in Q3
GNC had higher expectations for its third quarter earnings. The nutritional supplement retailer reported revenue of $628.0 million, a decrease of 8.1% compared with $683.4 million for third quarter 2016, ended Sept. 30, 2016. Similarly, GNC’s net income of $32.4 million dropped compared with $45.8 million in third quarter 2015.
Tuesday Morning reports Q1 loss
Constraints due to inventory levels took a toll on Tuesday Morning’s first quarter earnings. The off-price home decor retailer reported a net loss of $8.9 million for the first quarter ended Sept. 30, 2016. Net sales for the quarter were $211.9 million, which is an increase from $9.6 million from the prior year. Same-store store sales increased 5.1%, however the company’s operating loss for the first quarter was $9.2 million.

Boot Barn Q2 earnings meet the Street

Boot Barn’s second quarter performance rose slightly, meeting Wall Street estimates. The western-influenced specialty retailer reported $134 million in revenue for the second quarter ending Sept. 24, 2016, a 3.3% increase from $129.7 million in the prior-year period. This jump also exceeded Wall Street’s estimate of $131.61 million. Boot Barn credited the increase to 13 new stores opened over the past 12 months, and a 1.8% increase in same-store sales. Two of those stores opened the chain during the second quarter.
Black Friday: Why Retailers Need a Backup Plan

While Black Friday comes just once a year, most retailers have probably been planning for the major shopping day – and the rest of the holiday season – for quite some time now. For shoppers, Black Friday through Cyber Monday – also known as “Cyber Week” – are all about scoring the best deals on gifts for their family and friends. And similar to recent years, most shoppers won’t simply be flooding physical stores this holiday season. Rather, they will also take advantage of deals through e-commerce websites and mobile apps.
Report: Holiday shoppers waiting until post-election

The upcoming United States presidential election is so tumultuous that it’s influencing shoppers to pull back holiday shopping plans. With the election falling in the middle of holiday shopping, many U.S. consumers said they will have a more conservative holiday spending budget this year, according to the National Retail Federation’s annual consumer spending survey, a report that tapped 7,733 consumers about holiday shopping plans.
Boohoo.com’s first store to open in New York

Boohoo.com, the England-based, low-priced fashion Web retailer, will be opening its first brick-and-mortar store in Manhattan’s Union Square neighborhood. An opening date has not been set, but Cushman & Wakefield reported it has secured the retailer a lease for a 2,000-sq.-ft. space at 3 West 13th Street.
Retail phase of 65-acre Florida project is approved

Metropica, a 65-acre community planned for Sunrise, Florida, will begin building 370,000 sq. ft. of retail, dining, and entertainment space after getting the go-ahead from the town’s Planning and Zoning Committee. Tenants waiting to fill the space include iPic Theaters, Anthropologie, Fogo de Chao, Kings Bowl, and Kona Grill. Also approved as part of this first phase of construction phase were a 345-unit apartment building, a 240-room hotel, and 140,000 sq. ft. of office space.
Samsung Pay adds three new countries, online payments to portfolio

One year after launching, Samsung Pay is expanding the program’s reach and functionality. Samsung Pay is now available in three new countries, including Malaysia, Russia and Thailand, which will make the mobile wallet accessible to consumers across 10 countries by the end of 2016.
Consumer confidence takes a hit in October

Consumer confidence experienced an October surprise of sorts after reaching a nine-year high in September. The index now stands at 98.6, down from 103.5 last month.
Ascena Group’s non-executive chair to retire

Elliot S. Jaffe, ascena retail group’s co-founder and non-executive chairman of the board of directors, announced his plan to retire. Jaffe co-founded dressbarn in 1962 and served as CEO until 2002. He was ascena’s chairman of the board until January 2011, and then transitioned to non-executive chairman.