News

Chicago – True Value Company reported declining earnings in the fourth quarter and fiscal year 2013 even as sales moderately increased compared to the same periods a year earlier. The retailer posted quarterly earnings of $12.5 million, a decrease of 57% from $29.1 million for the same period a year ago.

Chantilly, Va. -- Hispanic consumers are outpacing non-Hispanics in their adoption of mobile, social and online sources for local shopping. According to BIA/Kelsey's Consumer Commerce Monitor study, nearly a quarter (23.6%) of Hispanic consumers reported they use tablets for local shopping, compared with 15.5% of non-Hispanics. And nearly half (48.5%) of Hispanic consumers use mobile devices for local shopping, compared with 32% of non-Hispanics.

Purchase, N.Y. – MasterCard and Syniverse are partnering to deliver a number of mobile and payment services for consumers to use when traveling abroad. The two companies are currently in pilot-phase for an opt-in service that will enable card transactions for users only when they have their mobile device switched on in a specific geolocation abroad.

By Catherine Tabor, CEO, Sparkfly

Beacons provide retailers with an opportunity to increase engagement and help direct the in-store experience, and they indicate a shift in many brands’ digital and in-store marketing and merchandising strategies. However, they need to be connected to other consumer touchpoints to deliver their full potential value to retailers.

Merging the Physical and Digital

London -- Interbrand announced that it has acquired one of the United Kingdom’s leading international retail design consultancies, HMKM. The move, which recognizes the importance of brand experience in an increasing digital and omnichannel retail environment, brings together two highly complementary companies, uniquely prepared to meet the challenges of the current retail landscape, Interbrand said.

Madison, Wis. --  Solomo Technology Inc. has launched Solomo Exchange 2.0, a comprehensive platform for location analytics and mobile engagement enabling rapid implementation and management of smart locations. With a smart location, retailers can activate devices and sensors to realize analytics, build and measure campaigns and enhance engagement across a facility, multi-floor building or entire organization. Consumers are given complete control of their personal identity and location information.

Houston - Concerned Pantry Shareholders (CPS), a group led by JCP Investment Management LLC and Lone Star Value Management LLC, together a significant shareholder of The Pantry Inc. has sent an open letter to the shareholders of The Pantry. The letter highlights what CPS terms the prolonged underperformance at The Pantry and the critical need for significant change in the company's board of directors.

New York – Macy's Inc.'s fourth-quarter profit increased 11%, but the chain’s sales missed forecasts as ongoing winter storms caused a sales slump in January. The company also announced plans for new Macy’s stores in Sarasota, Fla.; Las Vegas; and The Bronx, N.Y., in fiscal 2014. A new Bloomingdale’s will open in Palo Alto, Calif., to replace an older store in the same shopping center.

True Value's Mobile Order App for smartphones is putting more power into the hands of retailers, according to the co-op.

The True Value mobile ordering app, which began as a concept about 18 months ago, is now in its sixth month of operation. It's in use at about 1,800 retailers making thousands of orders, said Rosalee Hermans, head of information technology for True Value.

Although the Home Depot’s overall sales missed analysts' expectations, the retailer said the calendar shift, which resulted in one fewer week in the fourth quarter compared to the prior-year quarter, affected its results.  

The world's largest home improvement retailer reported fourth-quarter total sales of $17.7 billion, down 3% from the same quarter last year, which benefited from an extra week in the calendar. On a 13-week basis, the company's sales actually increased 3.9%.