News

Aeropostale shrinks net loss in Q1 amid cost reductions; sales decline 19%
New York — Aeropostale Inc. managed to shrink its net loss in the first quarter of fiscal 2015, even as sales declined. The mall-based specialty retailer reported a net loss of $45.27 million, down from $76.78 million, amid reductions in selling, general and administrative expenses (SG&A) and restructuring charges helped cut net loss.
Net sales dropped 19% to $318.6 million from $395.9 million. Same-store sales, including e-commerce, fell 11%.
Staples aims at Amazon with innovative, efficient, data-driven IT
Framingham, Mass. – Staples Inc. sees Amazon.com as its biggest competitor, and is not shying away from the competition. During a panel discussion at the MIT Sloan CIO Symposium held May 20 in Cambridge, Massachusetts, Staples CIO Tom Conophy explained his company’s intentions in its rivalry with the e-commerce giant.

“We’re going after Amazon in a big way,” declared Conophy. “We were an original disruptor in retail but lost our way. We didn’t see the onslaught of Amazon coming.”

Chico's CEO Dyer to step down

Chico's CEO David Dyer, who laid "the foundation for global expansion," will retire next spring, the company announced.
NY to experience Macy’s ‘Big Bang’ marketing

Macy’s is out to prove that bigger is better again this July 4 by sponsoring a fireworks display so massive that barges positioned at two locations on the East River in Manhattan are required to launch 40,000 shells.

The 39th annual pyrotechnic extravaganza is scheduled to last 25 minutes and be seen live by an estimated three million people from viewable locations along the shorelines of Manhattan, Queens and Brooklyn.
Millennials: The new retail standard bearer

A new wave of consumers is quickly becoming the most powerful economic force in retail, and it is causing retailers to refine plans on how to meet the needs of this new generation.

While some retailers may see Millennials as a unique group that forces massive change, GameStop sees them as well-informed, independent consumers who are causing us to rise to an even higher level of service.
Shining a light on 'dark stores'

We are living in the age of instant gratification. Heightened consumer expectations are putting overwhelming pressure on retailers to engage with each customer in real-time across every touchpoint. Increasingly, this means getting products in their customer’s hands whenever, wherever and however they want it. But it can be hard to deliver on these new fulfilment options – such as click-and-collect or same-day delivery – with traditional distribution infrastructures.
Fresh Market still growing, but how much?

The Fresh Market says its planned exit from California led to higher costs and lower profit in the first quarter, but analysts say the company may be in trouble.
Office Depot rewards military veterans

Office Depot is seeking to attract more veterans and their families to its stores with a new discount program.

The retailer is teaming up with Veterans Advantage to reward active duty and retired military, veterans, National Guard and Reserve, and their families with a 20% discount on office supply purchases. Veterans Advantage discounts are available every day on regularly-priced items and can be combined online with the company’s standard free delivery on qualifying purchases of $50 or more within our local delivery areas.
Ikea to fuel Canada expansion with massive DC

Just days after announcing that it would be opening several "pick-up points" across Canada, Ikea says it plans to open a massive distribution center in Ontario in October.
Build-A-Bear targets shoppers who are mad for 'Minions'

Build-A-Bear Workshop is aiming to leverage the popularity of "Minions" with a new, interactive and customizable plush toy collection.
Old Navy floats Gap's boat again

The CEO of Gap Inc. says efforts to improve "product acceptance" at Gap and Banana Republic stores is a work in progress that continues to drain on the company's financial results, which included an 8% decline in its first-quarter profit.
LivingSocial takes health care turn

Former Sears and Walgreens finance executive Atul Kavthekar is joining LivingSocial as CFO to help execute the e-commerce company’s ongoing re-invention strategy.