News

Facebook improves search with mobile emphasis
Menlo Park, Calif. – Facebook is improving its Facebook Search feature with emphasis on personalized results and mobile functionality. The social network has updated its internal search feature to provide uniquely targeted results designed to make it easy for users to find posts that have been shared with them.
Francesca’s Q3 net income falls 19% amid higher costs; lowers outlook
Houston – Francesca’s Holding Corp. reported that its net income dropped 19% to $7.3 million in the third quarter of fiscal 2014 from $8.7 million the same period the prior year. Increases in cost of goods sold and selling, general and administrative (SG&A) expenses drove the decline in profit. The specialty retailer also lowered its earnings outlook for the year. Francesca’s plans to open one new store in the fourth quarter, bringing total new stores opened in the fiscal year to 88.

Study – Smartphone revenue doubles in second week of holiday shopping

Petaluma, Calif. – During the second week of the holiday shopping season (Dec. 1-7), smartphone and tablet shoppers were especially generous spenders. According to data compiled by e-commerce software provider MarketLive, year-over-year online revenue generated by consumers using smartphones grew 107%, or slightly more than double.
Costco Q1 profit jumps 17%; tops estimates

Issaquah, Wash. – Costco Wholesale Corp. beat Wall Street expectations for net income and sales during the first quarter of fiscal 2015. Net income totaled $496 million, up 17% from $425 million the same period a year earlier. Lower opening expenses and higher interest income helped boost profits. Total revenue grew 7% to $26.87 million from $25.02 million. Total same-store sales rose 5%.
IBM, Apple introduce MobileFirst retail apps

Armonk, N.Y. – IBM and Apple are releasing the first wave of their previously announced IBM MobileFirst for iOS solutions in a new class of made-for-business apps and supporting cloud services. IBM MobileFirst for iOS solutions are now available to enterprise customers in retail, among other industries.
Nic & Zoe springs into brick-and-mortar

Natick, Mass. – For fashion brand Nic & Zoe, which recently opened its first brick-and-mortar store in Boston’s Shops at Prudential Center, the high degree of customer personalization and engagement found online is a routine and expected part of business. The company is using the Retail Cloud POS solution from Springboard Retail to bring personalized sales and customer engagement in the store closer to virtual levels.
Amazon testing bike messengers and price haggling

New York - Amazon is testing new features, one for the way it delivers goods, and the other a new pricing option that enables shoppers to haggle directly with third-party marketplace sellers for lower prices. The online giant is testing bike messengers deliveries in New York City, according to various media reports.
C-suite survey: Healthcare costs, maintaining margins top business concerns in retail

New York - The cost of healthcare, the ability to maintain margins  and the ability to continue to grow revenue are the top business challenges in the retail sector. That’s according to GE Capital’s new national survey of c-suite executives at middle-market companies (ranging from $10 million - <$1 billion in sales).
Costco off to great start with Q1 beat

The holiday season started strong at Costco where U.S. same store sales advanced 7 percent during the company’s first quarter ended Nov. 23.

Total company sales during the period increased 7 percent to nearly $26.3 billion from $24.5 billion. Membership income grew slightly slower, advancing 6 percent to $582 million. Same stores sales excluding the effects of the strengthening U.S. dollar and fuel price deflation were 7 percent and U.S. and international locations.
Executive efforts acknowledged by Buckle

A trio of top executives at The Buckle were elevated to new roles at the 463 store specialty retailer.

Kelli Molczyk, with the retailer since 1999, was named Vice President of Women’s Merchandising after most recently serving as Divisional Merchandise Manager. Prior to that she held a variety of roles with the company in which she was instrumental in design and marketing efforts.
Michaels weaves $180M marketing plan

Michaels is partnering with a new ad agency on a $180 million marketing plan as the arts and crafts retailer looks to weave a quilt of higher sales and market share.

Zimmerman Advertising will perform a range of key functions for Michaels, working with a total marketing budget of $180 million and focusing on strategic planning, analytics, digital media planning and buying and social media.
Grandson of Fairway founder steps down

Fairway Market announced that Howard Glickberg, whose grandfather took a fruit and vegetable stand in New York and turned it into a 15-store grocery chain, is retiring.

Glickberg most recently served as vice chair of real estate development for Fairway. He will remain a member of the retailer’s board of directors, Fairway said. He worked with the company for more than 40 years, serving as its CEO until 2011.