News

Fort Worth, Texas – Pier 1 Imports Inc. met Wall Street expectations with a 33% year-over-year decline in profits during the third quarter of fiscal 2015. Net income fell to $17.9 million from $26.8 million, with an increase in selling, general and administrative (SG&A) expenses driving the reduction.  

New York - The Deloitte Consumer Spending Index reached its highest point since November 2013, rising to 4.5 from 4 the prior month. The Index tracks consumer cash flow as an indicator of future consumer spending.    The Index comprises four components – tax burden, initial unemployment claims, real wages and real home prices. Highlights include:   Tax Burden: The tax rate has been effectively unchanged from the previous month at 11.8%.  

Amazon.com is getting deeper into the cash rewards game by partnering with a rebate shopping app.

For the first time ever, Ibotta will make it possible for anyone shopping on Amazon.com to earn cash rebates.

Finish Line CEO Glenn Lyon cited the company’s struggle to keep up with customer demand for new products even as the firm reported an increase in profitability for the third quarter.

The company reported an 11% improvement in net income during the third quarter, rising to $2.58 million from $2.32 million. Lower impairment and store closing charges, a slowed pace of growth in cost of sales, and an income tax benefit all helped spur the growth in profit.

Despite reporting a 33% year-over-year decline in profits during the third quarter, Pier 1 Imports CEO Alex Smith said he is confident in the chain’s value proposition going forward in 2015.

The person behind the retro marketing campaign at RadioShack is out.

Jennifer Warren, chief marketing officer at RadioShack, is the latest top executive to leave the troubled electronics retailer as it tries to stave off bankruptcy. The company recently replaced its CFO for the third time this year as it reshuffled restructuring advisers.

Warren joined RadioShack in April 2013 and was one of CEO Joe Magnacca’s first hires when he was putting together his turnaround team.

Citing strong consumer demand for its products, Nike reported a big boost in revenue and profit for the second quarter.

“Our strong second quarter results once again demonstrate NIKE is a growth company,” said Mark Parker, president and CEO of NIKE Inc. “The power of our portfolio continues to unlock growth, as we keep a laser focus on our biggest opportunities. The breadth and depth of that portfolio has helped us consistently deliver strong results –- quarter after quarter, year after year.”

Los Angeles - When it comes to making online selections, Christmas shoppers are better late than never. A survey released by Bizrate Insights, a division of Connexity, found that many shoppers are still making online holiday purchases, even though there are only a few days left before Christmas. In fact, only 17% of shoppers have finished their Christmas shopping.  

Menomonee Falls, Wisconsin - Kohl’s Department Stores has gotten in on the non-stop holiday shopping action by promoting itself as the place to be for “A Sale So Big We’re Open Non-Stop” beginning 6 a.m. on Friday, Dec. 19 through 6 p.m. on Christmas Eve, Wednesday, Dec. 24.   

New York City  - No big surprise that Americans are more connected than ever before, but the newest trend is toward “smart homes” as well. New research from Experian Marketing Services has found that nearly a third of all Americans use at least one type of smart or connected device and 14% of homes are now smart homes, employing connected lights, locks, thermostats, or electrical outlets, among others.