News

Urban Outfitters misses on profit, sales in Q1
Philadelphia – Urban Outfitters Inc. missed Wall Street expectations for net income, sales and same-store sales during the first quarter of fiscal 2015. Net income fell 12% to $32.78 millio,n from $37.48 million the same quarter a year earlier.

Lower margins and higher delivery and fulfillment expense helped drive down net income. Sales reached a record high of $739 million, up 8% from $686.31 million, but still fell short of Wall Street expectations. Same-store sales rose 4%.
Braving the Currency Storm: What U.S. Brands Can Do
By Brian Ehrig

The U.S. dollar has risen by more than 20% against the other major currencies over the last year, buoyed by a respectable if not torrid economic recovery and sinking oil prices, among other factors. That could be a breath of fresh air for U.S. shoppers with a taste for imported goods. For global mega-brands like PVH, Microsoft and Coach, however, the implications are closer to a gathering storm.

The next big fast-fashion collaboration is here

H&M aims to bring the haute couture of French design house Balmain to the masses with a new collection this fall.

Olivier Rousteing, head designer at Balmain, announced the partnership last night on Twitter, which H&M confirmed.
American Apparel sues Charney

Photo: Dov Charney

Los Angeles – In the latest set of dueling lawsuits to hit a major retailer, American Apparel is suing its founder and ousted CEO Dov Charney for violating a standstill agreement with the company. Standstill agreements typically limit the amount of stock in a company a party can buy during a certain period of time.
Accenture acquisition to expand digital consulting capabilities

Retailers are poised to benefit from a new deal between Accenture and Javelin Group, a UK-based retail strategy consulting and digital transformation services provider.

The acquisition will expand the capabilities of Accenture Strategy to help the world’s leading retailers and consumer brands accelerate their digital transformation. Terms of the acquisition were not disclosed, and completion of the acquisition is subject to regulatory approval and other customary closing conditions.
Tech Bytes: Three Technologies Poised to Disrupt Future of Retail

A lot of attention has been paid to a variety of technologies currently disrupting retail, like beacons and wearable devices. Here are three technologies still in the development phase that hold potential to radically disrupt retail, and even life as we know it, in the next 10 years:

Quantum Computing
RH to build largest U.S. store in Las Vegas

The retailer formerly known as Restoration Hardware has hired a chief real estate officer to lead the latest installment of its evolution into a "design gallery": a 70,000-square-foot store in Las Vegas.
Rite Aid integrates loyalty program with Plenti, runs campaign

Camp Hill, Pa. - Rite Aid Corp. has launched a new integrated marketing campaign in support of its wellness+ loyalty program with the new Plenti coalition program from American Express. As a part of Plenti, The new campaign features a 30-second TV spot and includes direct mail, in-store signage, circular and multi-platform digital activation with six online videos, email, search, display, pre-roll and social media strategies.
Staples will track sales data with NPD Group

Framingham, Mass. - Staples Inc. has selected The NPD Group, Inc. as its data services provider for market sizing, share measurement, and vendor collaboration for the office supplies and technology industries. The service tracks sales through retail, e-commerce, and commercial channels.
7-Eleven purchases New England Tedeschi chain

Boston – 7-Eleven Inc. has as agreed to acquire Tedeschi Food Shops Inc.'s approximately 182 convenience stores in the greater Boston area and in New Hampshire. The transaction is anticipated to close in mid-2015, subject to standard closing conditions and regulatory approvals.

Terms of the deal were not disclosed. 7-Eleven expects to extend job offers to most Tedeschi Food Shops employees who are affected by this acquisition. Currently, 7-Eleven operates and franchises 164 stores in the greater Boston area and New Hampshire.