News

Online retailer Wayfair narrows loss on growing sales
Boston -- Online home furnishings retailer Wayfair is losing less money than before and gaining new customers at a rapid pace.

The retailer reported a loss of $19.3 million for the second quarter, ended June 30, down from a loss of $28 million, in the year-ago period.

Revenue increased to $491.8 million, up 66.4% year over year. Direct retail revenue, consisting of sales generated primarily through the sites of Wayfair’s five brands, increased to $440.3 million, up 80.8% year over year.
Back-to-school not all about students at Lane Bryant
Lane Bryant is taking a non-student approach to back-to-school marketing with its third annual Chalk it up to Style promotion.

Now through Aug. 31, teachers and supporting school staff who shop at Lane Bryant during Chalk it up to Style will enjoy saving 15% off their purchase when shopping in store with a valid school ID or paystub.

Embattled American Apparel issues blunt warning to shareholders

New York -- Things are not getting any better at the struggling and cash-poor American Apparel. In fact, it looks like they are getting worse.

In a short form quarterly filing, the retailer said its net loss increased to $19.4 million in the second quarter from $16.2 million in the year-ago period while net sales fell 17% to $134 million. It estimated that, as of June 30, it had only $7 million in cash and $6 million left in its Capital One credit line. (American Apparel’s full quarterly filing will be delayed.)
These brands are tops with students

Barnes & Noble is tops when it comes to the most powerful “Back-to-School” retail brands, according to a new survey.
A Five-Point Checklist for Retailers Making the Move to EMV Before the October Deadline

Credit card fraud is in the United States is at epidemic levels. Last year, the U.S. accounted for more fraud than the rest of the world combined. And the fraud rates are accelerating. EMV technology, which has shown to greatly reduce in-store fraud in the Europe, is finally being rolled out in the United States with an impending deadline in October 2015 when retailers will be liable for in-store fraud for cards that have chips on them.
Report: Impulsive, thrifty millennials a tricky group to court

Seattle — A new report from MSLGROUP and the Hartman Group is underscoring grocers’ need to appeal to millennial shoppers in unique ways. The report, Food Shopping in America found that one of the youngest and constantly connected consumer groups is also a tough nut to crack — simultaneously impulsive, thrifty and wary of inauthentic marketing.
Sports Authority stays on same omnichannel track

Sports Authority is looking to advance its omnichannel strategy by continuing to partner with personalization solutions provider Certona for the fifth year in a row.
Report: Target to test grocery-delivery service

New York -- Target Corp. is joining other retailers in the grocery delivery service.

The chain plans to begin testing a grocery-delivery service, reports the Minneapolis-St. Paul Business Journal.

To read the story, click here.
Lowe's builds a new strategy with N.Y. stores

Lowe’s is giving an overhaul to its store format strategy when it opens in New York City this week.
Wayfair investors say ‘way to go’

Online home furnishings retailer Wayfair is losing less money than before and gaining new customers at a rapid pace.