News

Duck brand is looking to further engage crafty folks with its latest product: the first-ever scented duct tape.

Duck Tape Scents are available in six colors:

Abercrombie & Fitch credited an ongoing profit improvement initiative as driving its net income growth in the second quarter, which increased 13% to $12.9 million, from $11.4 million a year ago, and beat Wall Street estimates.

But the company’s revenue decreased 5.8% to $890.6 million in the quarter, and same-store sales dropped 7%, with U.S. same-store sales down 5%. The third quarter may see some progress, however, since it will include back-to-school sales.

New York - L.L. Bean provided a level of customer service across all channels in July that was among the best in the U.S. For the third month in 2014, L.L. Bean has topped the overall customer service rankings in Stella Benchmarks.

Los Angeles -- Guess on Wednesday reported second-quarter net earnings of $22 million, a 50.5% decrease compared to adjusted net earnings of $44.3 million for the year ago period. The retailer, which also cuts its fiscal year outlet, noted that soft traffic and promotional activity have continued to put its North American stores under pressure.

Wakefield, Mass. – In light of the recent announcement of the “Backoff” malware threatening the POS security of retailers, the PCI Council strongly encourages companies as a matter of urgency to consider the following recommendations:

1. Contact your provider of antivirus solutions and ensure you have the most recent and up to date version of antivirus software that will detect “Backoff” and other similar malware.

Petaluma, Calif. – MarketLive is integrating Visa Checkout directly into its e-commerce platform. Visa Checkout is a new way to pay online, on any device, with a few clicks.

Integrating Visa Checkout into MarketLive’s e-commerce platform allows MarketLive’s retail customers to offer the service to a growing number of consumers who are shopping via smartphones and tablets.

Franklin, Tenn. -- The retail and hospitality market is entering a time of unprecedented IT growth for 2015, with overall spending expected to increase 5% over 2014  and surpass $190 billion worldwide, according to a new report by IHL, a global research and advisory firm specializing in technologies for the retail and hospitality industries.

Columbus, Ohio – Express Inc. beat Wall Street expectations for both profit and revenue during the second quarter of fiscal 2014. The retailer, which is facing a possible takeover battle, reported better-than-expected net earnings of $6.9 million, down 59% from $16.9 million in the year-ago period. The company also increased its annual profit forecast.

Irving, Texas – The Michaels Companies Inc. on Wednesday reported a net loss of $48 million in the second quarter of fiscal 2014, compared to net income of $17 in the year-ago period, as $68 million in costs associated with debt-extinguishment and drove the retailer into the red. Its results, however, beat analysts estimates, and the company raised its full-year outlook. It was Michaels’ first earnings report since it went public again at the end of June.

New York – Profit and revenue for Tiffany & Co. exceeded Wall Street predictions during the second quarter of fiscal 2014. Net earnings rose 16% to $124 million from $107 million in the second quarter of the previous fiscal year, which the retailer attributed to worldwide net sales growth and gross margin improvements.

Worldwide net sales increased 7% to $992.9 million, from $925.9 million. Strong performance in the colored diamond and statement jewelry categories helped drive sales.