News

Study: Valentine’s spending to rise 4%
New York -- Shoppers will be opening both their hearts and their wallets this Valentine’s Day. According to a new study from IBISWorld, total holiday spending will increase 3.8% from 2014, to $139.70 from $134.56.

Revenue from candy is expected to rise 3%, and will maintain its position as the category with the most consistent growth over the past five years. This segment’s popularity is due to its easy availability and its varied pricing based on the manufacturer and quality of ingredients.
Kate Spade to close Kate Spade Saturday, Jack Spade stores; announces China venture
New York -- In a surprise move, Kate Spade & Company announced it is closing all 19 of its lower-priced Kate Spade Saturday stores and all 12 of its Jack Spade menswear stores. Both brands will remain in the luxury company's portfolio, with Kate Spade Saturday being folded into Kate Spade, and Jack Spade being sold at other retailers and online. The company also announced a new joint venture to speed its growth in China, where it sees a long-term potential for 100 stores.

PriceSmart starts off New Year strong

San Diego – Early results of 2015 suggest it will be a happy New Year indeed for PriceSmart Inc. For the month of January 2015, net sales increased 13.3% to $219.2 million from $193.5 million in January a year earlier.

The retailer’s growth to 36 warehouse stores from 32 a year earlier helped boost sales. In addition, same-store warehouse sales grew 1.7%.
Luxottica veteran joins Coach board

Coach Inc. has added a luxury retail veteran to its board of directors.

“We are extremely pleased that Andrea Guerra has agreed to join our board,” said Victor Luis, CEO at Coach Inc. “As Coach continues its transformation into a modern luxury lifestyle brand, Andrea's extensive exposure to a wide variety of best-in-class brands and his broad retail and international experience will prove valuable to our team."
RetailNext: January stores sales, traffic decline

San Jose, Calif. – Consumers appear to have been feeling a seasonal hangover after what some analysts have called a relatively strong 2014 holiday season. According to the monthly Retail Performance Pulse for January 2015 from RetailNext, store sales and traffic both declined 7.7%
RadioShack files for Chapter 11

It's official: The long-struggling RadioShack has filed for Chapter 11 bankruptcy protection. The 94-year-old retailer made its filing in U.S.
Walgreens introducing new beauty brand

The introduction later this month of an exclusive new beauty brand backed by a high profile celebrity is seen broadening Walgreens' appeal with a key shopper segment.

Walgreens has teamed up with actress Eva Mendes and beauty company Maesa to launch a multi-cultural beauty brand called Circa. The nationwide launch supports Walgreens' desire to increase accessibility to well-priced, diverse, specialty beauty offerings and reflects its commitment to owned brands.
Staples launches new omnichannel small business campaign Feb. 8

Framingham, Mass. - Staples Inc. is launching a new brand campaign featuring the “Staples Guy,” who showcases how the company helps small business customers succeed. The new campaign, which features radio, digital and social media, builds on the tagline “Make More Happen” to highlight the value, convenience and services that help Staples customers achieve success in surprising and affordable ways. The national campaign begins Sunday, Feb. 8.
Fred’s Super Dollar sales up in January

Memphis, Tenn. -- Fred's Super Dollar reported $138.8 million in sales, up 3%, for the four-week fiscal month of January ended Jan. 31, 2015. Comparable store sales for the month increased 4.3% versus a decrease of 1.8% for the same period last year.
Luxottica veteran appointed to Coach board

Coach's efforts to regain its upscale brand identity received a boost this month with the addition of a veteran luxury goods retailer to its board of directors.

“We are extremely pleased that Andrea Guerra has agreed to join our board,” said Victor Luis, CEO at Coach Inc. “As Coach continues its transformation into a modern luxury lifestyle brand, Andrea's extensive exposure to a wide variety of best-in-class brands and his broad retail and international experience will prove valuable to our team."