News

Off-pricer rolling out new prototype
Tuesday Morning Corp. continues to expand its new prototype. The off-price retailer announced the relocation and upgrade of two locations in Southern California. Its store at California Oaks Center in Murrieta, has relocated to Palm Plaza in Temecula, and its store at Foothill Village Shopping Center has relocated to Terra Vista Town Center (both are in Rancho Cucamonga). The new locations feature the chain’s latest prototype, which includes new fixtures, improved lighting and a redesigned layout.
Sephora, Michigan Avenue, Chicago
Sephora has debuted its high-tech, high-service Beauty Tip Workshop format on Chicago’s Michigan Avenue. The 10,040-sq.-ft. store offers an array of classes, group as well as one-on-one makeovers and boasts a number of innovations, including a new digital makeover guide. Click here for more.

Can Sears be saved?

On Thursday, Aug. 25, Sears Holdings Corp., on the heels of another dismal quarter, announced it had accepted a capital infusion in the way of a $300 million loan by CEO Eddie Lampert’s hedge fund.
How ‘shoppertainment’ elevates the in-store experience to drive traffic and sales

Online retail sales continue to grow as changing shopper behavior places greater expectations on brick-and-mortar retail. Despite this trend, store-based retailing remains more profitable than direct-to-consumer retailing, largely due to the high cost of free shipping and returns associated with online sales.
Sephora goes high-tech in Chicago

Sephora has brought its tech-savvy Beauty TIP Workshop store format to Michigan Avenue in Chicago, complete with some new flourishes. At 10,040 sq. ft., the new store is the beauty giant’s 400th freestanding location in North America, and only the fourth here to feature the TIP (teach, inspire, play) format. The other locations are Powell St., San Francisco; Prudential Center, Boston; and Yorkdale Shopping Centre, Toronto.
GameStop Q2 sales fall

GameStop Corp.’s revenue fell short of expectations in the second quarter as a lack of new game titles cut into its core business. Sales fell 7.4% to $1.63 billion in the quarter ended July 30. Same-store sales fell 10.6 %. Net income rose 10% to $27.9 million, in line with Wall Street projections.
Retailers Need to Think Like Restaurants

At the Converse Store on the Third Street Promenade in Santa Monica, “customization maestros” help sneaker fans manufacture their dream shoe.
Big Lots profit tops Street; raises forecast

Big Lots Inc. isn’t letting soft sales in the second quarter damper its outlook. Instead, the retailer raised its profit forecast for the year. The discounter on Friday reported fiscal second-quarter net income of $22.7 million, which surpassed analysts’ expectations, from $17.64 million in the year-ago period. Revenue totaled $1.2 billion in the period, which missed Street forecasts. Same-store sales inched up 0.3%.
Arts and crafts giant cuts sales outlook

Michaels Cos. said increased spending cut into its bottom line in the second quarter. The chain lowered its same-stores outlook for the rest of the year, citing a “choppy” retail environment. For the quarter ended July 30, the company posted a profit of $35.6 million, compared with $35.7 million in the year-ago period, amid spending to integrate recently-acquired arts and craft wholesaler Lamrite West and the timing of distribution expenses.
Dollar Tree Q2 sales disappoint

A little over one year since it acquired rival Family Dollar, Dollar Tree reported revenue that missed Wall Street expectations amid lower customer traffic. Dollar Tree and other discounters are also feeling the impact of a recent change by some states regarding the criteria for the Supplemental Nutrition Assistance Program (SNAP), which has made thousands of households ineligible for benefits.