News

Seattle — Nordstrom Inc. is entering the haute couture space with the introduction of SPACE, a new shop curated by Olivia Kim, director of creative projects. SPACE will offer products from emerging and advanced designers.

Sam’s Club is taking its efforts to woo small business customers to social media.

The retailer is launching #SmallBizHelp, an interactive social media campaign that offers expert advice on starting and running a business.

Kearney, Neb. — The Buckle Inc. beat Wall Street expectations for profit in the second quarter of fiscal 2015. The retailer achieved this feat even as net income slipped 4% to $23.5 million from $24.1 million.

Growth in cost of sales and selling expenses cut The Buckle’s profit. Net sales increased 0.1% to $236.1 million from $235.7 million. Same-store sales decreased 1.7%. In one bright note, online sales increased 17% to $20.1 million from $17.1 million.

Just in time for football season, Foot Locker has launched a new video campaign starring two of the best receivers for the New York Giants.

The New York-based specialty athletic retailer has unveiled "Thoughts," a new commercial starring New York Giants wide receivers Victor Cruz and Odell Beckham, Jr., highlighting the brand's back-to-school campaign.

Houston — Stage Stores Inc. plans to close 90 underperforming stores, representing 4% of total sales, after a disappointing second quarter that missed Wall Street expectations for profit and revenue. The retailer expects the closures to enhance its capital efficiency, deliver higher productivity and be accretive to earnings.

The 90 closings include 27 stores expected to be shut down during fiscal 2015. Stage also plans to open three new stores during the fiscal year.

Thanks to some financial engineering, Sears Holdings overcame a double digit decline in same store sales to produce a second quarter profit or a less severe loss depending on the arithmetic used.

Stamford, Conn. — Even with the increasing influence of digital technology on retail habits, the in-store experience is important in all major purchase decisions, according to a new survey. The new Fourth Annual Major Consumer Purchase Study from Synchrony Financial shows that an overwhelming majority of shoppers buy in person.

At the same time, shoppers continue to carefully research major purchases of $500 or more, including financing options. While 80% of major purchase customers start with online research, most finish the deal inside a store.

Reagan era appointee David Stockman is no fan of the current administration or the Federal Reserve’s long-running easy money policy and to make his case against the flawed strategy he singles out four of the biggest names in department store retailing.

Stockman is the Reagan era director of the Office of Management and Budget who became a Wall Street executive and now regularly opines on the troubled state of the economy and looming dangers caused by nearly eight years of zero interest rates he contends have produced all manner of distortions in the economy.