News

Fort Worth, Texas – RadioShack Corp. will reportedly auction the leases of 2,000 stores in March, while GameStop has entered the picture as a bidder. According to Reuters, the bankrupt retailer received court approval to hold the auction on March 17 with Standard General making an initial “stalking horse” bid of $200 million and will move the date back to March 23 if more bidders emerge.

Mountain View, Calif. – Apple Pay may have some new competition this spring. Google is reportedly planning to release an Android-based digital payment API known as Android Pay at its Google I/O conference in May 2015.

According to Ars Technica, Android Pay would integrate into retailers’ mobile apps but could also be used at physical checkout stations. Similar to Apple Pay, consumers would upload credit or debit card information to Android Pay and pay by tap.

Off-price department store operator Steinmart is looking to capitalize on favorable business trends this year with an aggressive expansion plan that will see the company add 11 new stores.

The Jacksonville, Fl.,-based operator of 270 stores had indicated last fall it would open 10 new stores this year, but after reporting better than expected sales results the growth target was increased by one location. Steinmart opened nine new stores last year as part of a renewed commitment to physical expansion.

Apparently a lot of consumers shopped for lingerie and bath products this holiday season, if the profits at L Brands Inc. are any indication.

The Columbus, Ohio-based parent company of Victoria’s Secret and Bath and Body Works reported that it earned $564.8 million, or $1.89 a share, for the quarter ended Jan. 31, up from $489.6 million, or $1.65 a share, a year earlier. Net sales rose 7% to $4.07 billion and same store sales rose 6%.

The CEO of Sprouts Farmers Market Inc. credits consumers’ increasingly strong “desire to eat healthier” with his company’s big sales surge in the fourth quarter.

The Arizona-based company posted sales of $734.6 million, an increase of 21%, for the fourth quarter ended Dec. 28. Same store sales were up 8.5%.

Jay Carney spent three years parsing words as president Barack Obama’s top spokesman and now has joined Amazon.com as senior vice president of worldwide corporate affairs, according to Politico.

Record digital and mobile sales propelled HSN Inc. to a better-than-expected 10% increase in sales in the fourth quarter.

The company reported profit of $68.3 million, or $1.28 a share, up from $61.6 million, or $1.14 a share, a year earlier.

A week after announcing that it would boost wages for its employees, Walmart is stepping up again in a big way with a commitment to close the skills gap of entry level workers.

The Walmart Foundation is making an initial investment of $16 million to seven national nonprofits as part of the Opportunity initiative, a $100 million commitment to help increase the economic mobility of entry level workers in retail and adjacent sectors.

Stronger demand for clothing and accessories during the holiday season helped Kohl's Corp. post an increase in same store sales for the fourth quarter after five straight quarters of decline.   The retailer reported that same store sales rose 3.7% for the fourth quarter. Net income rose 10.5% to $369 million, or $1.83 per share, while net sales increased 4% to $6.34 billion. Analysts on an average had expected earnings of $1.80 per share and revenue of $6.33 billion.  

The Center for Retailing Excellence just scored another coup with the addition of Walmart COO Judith McKenna to the agenda for an upcoming conference that already included Walmart CEO Doug McMillon.

The Center, part of the Sam M. Walton College of Business at the University of Arkansas, is scheduled to hold its annual Emerging Trends in Retail conference on June 11 at the Northwest Arkansas Convention Center in Springdale near Walmart’s headquarters in Bentonville headquarters.