News

Walton family to sell part of Wal-Mart stake
Bentonville, Ark. – Walton Enterprises LLC, the corporation which holds Wal-Mart stock for the Walton family, plans to sell off some of its ownership stake in the discount giant. In a brief statement on the Wal-Mart investors webpage, Walton Enterprises said its stake in Wal-Mart has risen to about 50% as a result of stock buyback programs.
Why retailers need to measure customer happiness
When retailers' customers aren’t happy, how do they really know? Many key metrics, such as Net Promoter Score (NPS) and Customer Satisfaction Score (CSAT), are born from accumulated survey results and don’t capture true happiness. Surveys focus on whether a customer is satisfied, which is very different from happieness. These are two very different things. So, the question becomes: Are companies really primed to measure customer happiness, or are they settling for a rationalized alternative created by linguistic gymnastics in a survey?

Army and Air Force Exchange to install 6,000 NCR POS terminals

Duluth, Ga. -- NCR Corporation announced that the Army and Air Force Exchange Service (AAFES) will replace 6,000 point-of-sale terminals with NCR RealPOS 72XRT systems. The new technology will replace non-NCR terminals in both its retail and food services locations, and will be maintained globally by NCR Services.

The Exchange provides quality goods and service at comparatively low prices to American armed forces families. It operates more than 3,100 facilities worldwide, in more than 30 countries, five U.S. territories and 50 states.
Sears board member new addition at Staples

Starboard Value, the investment firm driving change at Staples, pushed the retailer to merge with Office Depot and now has achieved another of its goals with the addition of a new board member.
Study: Millennials disloyal to brands

Millennials are not loyal to fashion brands, according to a new study. In fact, 45% of those surveyed by LIM College say nothing can be done to retain them.

This is according to the results of a new survey, "Shopping Trends Among 18-25 Year-Olds," conducted by LIM College Professors Robert Conrad and Kenneth M. Kambara, Ph.D.
Build-A-Bear launches interactive Promise Pets

Build-A-Bear Workshop is rewriting the rules on stuffed animals with a new line of toys that are linked to a mobile app.

The retailer’s new Promise Pets feature a free mobile app that families can download to bring the experience of pet care to life, teaching children about animal care through an interactive play experience. Breeds in the collection include the Golden Retriever, Beagle, Yorkshire Terrier and Persian Kitten. Build-A-Bear plans to introduce more breeds throughout the year.
PriceSmart Q2 profits slip

San Diego – Net income at PriceSmart Inc. fell 12% to $24.83 million during the second quarter of fiscal 2015, from $28.28 million in the same period a year earlier. Increased operating expenses helped cut profit even as revenues grew 10% to $750.3 million, from $674.38 million.

PriceSmart also attributed the drop in net income to the devaluation of the Colombian peso.
Bath products and bras lift L Brands in March

L Brands continued to be a bright spot in specialty retail in March, reporting a 9% increase in same-store sales.

The company said an earlier Easter and the spring break season helped its March sales increase 6% from the year before. L Brands is the owner of Victoria’s Secret, Bath & Body Works and its own eponymous brand. The company reported brisk sales at Victoria's Secret and Bath & Body Works in March.
Study: Sales per shopper rise in March

San Jose, Calif. – Despite declining store traffic during March 2015, retailers benefited from increased sales per shopper (SPS), average transaction value (ATV) and conversion rates. According to the March 2015 RetailNext Retail Performance Pulse, SPS grew 5.8% compared to the same month a year earlier, perhaps reflecting pent-up consumer demand after a difficult winter.

In addition, ATV grew 3.5% and conversions increased 0.9%, further suggesting consumers who visited stores were looking to make purchases. Returns stayed flat.
AT&T, Boston

AT&T has opened one of its largest stores yet, a 9,000-sq. ft. location on Boylston Street in Boston.

The store, which is just a few steps away from the finish line of the Boston Marathon, sets itself apart with an all-glass front and space that spans two floors. A Boston flavor is prevalent throughout the space, starting with an oversized Boston Marathon-themed mural.