News

Amazon swings to rare profit in Q2
Seattle – Sales growth outpaced that of expenses during second quarter 2015, leading to a rare report of positive net income at Amazon.com Inc. Amazon reported net income of $92 million, compared to net loss of $126 million the same quarter the prior fiscal year.
Target centralizes security efforts
Minneapolis – Target Corp. is taking a centralized approach to security to help ensure that data breaches such as the one which inflicted serious financial and branding damage in late 2013 do not happen again. Target has opened a Cyber Fusion Center (CFC) that brings Target’s key information security teams together.

Southeastern Grocers sells 29 stores to K-VA-T

Regional grocery chain Southeastern Grocers has agreed to sell 29 BI-LO stores to another regional grocery chain: K-VA-T Food Stores.

K-VA-T says it intends to continue to operate all of these stores under the Food City banner and hire the vast majority of their store associates, retaining their years of service.
Survey: Young female with kids? Sell on Etsy

Brooklyn, N.Y. – If you’re wondering whether you should become an Etsy seller, being young, female, and a parent may be factors in your favor. According to a new survey of 4,000 U.S. Etsy sellers conducted by the online handmade crafts marketplace, 86% of Etsy sellers are women. In addition, Etsy sellers are twice as likely to be under the age of 35 and many are parents with children at home.
Canada's largest grocer closing stores

Canada's biggest food retailer Loblaw announced it plans to close 52 unprofitable stores over the next year at the same time the company reported lackluster second quarter financial results.

Loblaw Companies has more than 2,300 stores, including Loblaws, Provigo, and Extra Foods. It also owns Shoppers Drug Mart.
Hudson’s Bay capitalizes on real estate

Toronto - Hudson’s Bay Company (HBC) is capitalizing on 42 real estate assets. The retailer has closed a joint venture with Simon Property Group focused on credit tenant, net-leased and multi-tenanted retail buildings in the U.S. and internationally.
Walmart acclerates omnichannel agenda in China

Walmart wants to advance its long-term growth prospects in China and has acquired full ownership of an e-commerce company in which it already held a majority stake to further that objective.
Target decks the dorm

Minneapolis – Target Corp. is decking the dorm with a new application aimed at students preparing to go back to college this fall. Target’s Made for U College Styler is an interactive tool that assesses a college student’s personal style and creates tailored room designs they can shop and customize via phone, tablet or desktop.
Loblaw swings to profit, will shutter 52 stores

Brampton, Canada – Loblaw Companies Ltd. swung from loss to profit in the second quarter of fiscal 2015, but still plans to improve profitability even more. Loblaw reported net income of $185 million, compared to a net loss of $456 million the same period a year earlier.
Gadgets, services propel Apple in Q3

Cupertino, Calif. – Sales of gadgets such as iPhone, iMac and the new Apple Watch, as well as services, helped propel Apple’s strong performance during the third quarter of fiscal 2015. Net income soared 39% to $10.7 billion from $7.7 billion the same quarter the prior year, aided by costs and taxes that did not increase as fast as sales. Revenue increased 33% to $49.6 billion, from $37.4 billion.