News

Study: Brand loyalty not in fashion for Millennials
New York - Millennials are not loyal to fashion brands. In fact, a new study from LIM College shows that 45% of those surveyed say nothing can be done to retain them.

The study, “Shopping Trends among 18-25-Year-Olds,” surveyed 275 LIM College students from March 2-9, 2015. Respondents were asked to evaluate the applicability of statements regarding why they may have abandoned what had been their brand of choice in 2013. The top responses were:

1. Availability of desirable new alternatives (64%).
L Brands, Cato shine in March
New York -- Specialty retailer L Brands continued its winning ways in March, reporting a 9% increase in same-store sales, higher than expectations. Total sales increased 10% to $981.2 million, from $923.7 million in the year ago period.

The Cato Corp. also turned in a winning performance, with a 12% surge in March same-store sales. For the nine weeks ended April 4, sales totaled $197.5 million, up 5% from $188.98 million a year earlier.

Papa John’s launches online bill-splitting tool

Louisville, Ky. -- Papa John’s is launching PayShare, a first-of-its-kind digital solution in the pizza industry that lets customers immediately split their pizza bill. The solution, PayShare, powered by Venmo, provides customers a safe and secure option to simply and easily split the check on any mobile or online order.
Dunkin’ Donuts adds Google Wallet for Android users

Canton, Mass. - Dunkin' Donuts has unveiled a new mobile payment option allowing U.S. customers with Android devices to purchase and reload virtual Dunkin' Donuts cards using Google Wallet.

People can securely store any credit and debit cards and speed through checkout in apps or online stores with the "Buy with Google" button, which is now available as a mobile and online payment option for Dunkin' Donuts guests with Android devices.
Pier 1 to close 100 stores over three years

Fort Worth, Texas – Pier 1 Imports Inc. on Thursday reported a declining profit for its fourth quarter and also announced that it plans to close 100 stores as part of a three-year real estate optimization plan.

Pier 1 reported net income of $33.1 million in the fourth quarter of fiscal 2015, down 22% from $42.6 million the same quarter a year earlier. Expenses related to the retirement of the company’s former CFO, as well as increased selling, general and administrative (SG&A) expenses, contributed to the decrease in profit.
Bed, Bath & Beyond misses on Q4 profit, sales; will raise wages

Union, N.J. – Bed, Bath & Beyond Inc. missed Wall Street expectations with its fourth quarter 2014 profit and sales results. In addition, the company indicated that it may join Walmart and other retailers in raising wages for employees.

During the fourth quarter, Bed, Bath & Beyond reported net earnings of $321.1 million, down 4% from $333.3 million a year earlier. Higher cost of sales and selling, general and administrative (SG&A) expenses helped drive down earnings.
Survey: Three in four shoppers use mobile in-store

Atlanta - Purchases in brick-and-mortar stores still accounted for more than 94% of all retail sales in the U.S. last year, totaling $4.4 trillion. But according to the new “Reality of Retail” report from retail marketing firm InReality, consumers are shifting their in-store shopping habits.
Home Depot offers omnichannel shopping experience

Atlanta – Spring has been a time for fixing up homes and lawns since anyone can remember, but The Home Depot Inc. is giving a modern twist to the process. The Home Depot is offering a variety of omnichannel shopping features, including an “expanded aisles” feature that bridges in-store products to items available on Homedepot.com.
Potbelly names finance vet as CFO

Chicago - Potbelly Corp. has named Michael Coyne as its new CFO, effective May 1. Coyne will oversee all financial functions and will also be charged with positively impacting Potbelly's analytical, productivity, and risk assessment capabilities.
Petco promotes pet adoption via YouTube
Coupons.com launches Apple Watch app

Mountain View, Calif. – Coupons.com Inc. is launching a savings and digital promotions app for the Apple Watch. Using the Coupons.com Apple Watch app, shoppers can add nearby digital savings at national retailers and restaurants.
Walgreens to close about 200 stores as part of new $500 million cost-savings plan

Deerfield, Ill. — Walgreens Boots Alliance on Thursday reported quarterly earnings for the first time since the December 2014 merger of Walgreen Co. and Alliance Boots GmbH. The announcement included the news that the drug store retailer will close about 200 U.S. stores as part of its previously announced three-year, $1 billion cost-reduction plan.