News

Weak traffic, Sears sales plague Lands' End holiday
Weak retail traffic and fewer sales at Sears hurt Lands’ End Inc. during the peak holiday season.

The retailer said it expects that for the period ending Jan. 30, earnings are expected to fall 20% to 26% from the year-earlier period to between $34 million to $37 million. On a per-share basis, the retailer forecast earnings of $1.06 to $1.16. Analysts polled by Thomson Reuters had been expecting $1.38 a share in earnings.
Study: Online retailers tardy with refunds
New York – Taking money is one thing, but e-retailers aren’t always so great at giving it back. In a study of the refunds performance of 40 of the largest online retailers, analysis firm StellaService found that the majority of retailers evaluated aren’t meeting consumer expectations.

For orders placed in fourth quarter 2014, the average speed to receive a refund from the companies evaluated was 9.5 days. The majority of consumers said they expect a refund in seven days or less.

Sears Holdings names senior VP, president for Kmart pharmacy

New York -- Sears Holdings has a new leader for its Kmart pharmacy division. The company announced that it has hired Phil Keough as senior VP and president, pharmacy.

Keough most recently served as CEO and president of Millennium Pharmacy Systems, a long-term care pharmacy provider, and led the sale of the company to PharMerica.
Are Magic Mirrors the next big thing?

There was a buzz at this year’s NRF Big Show surrounding Magic Mirrors, which have moved from the prototype stage to something everyone seems to be working on now.
BN campaign promotes reading and the Nook

Barnes & Noble Inc. is embarking on a social media-based campaign to inspire more customers to read and promote its Nook e-reader.

The Nook Reading Challenge is a social media-based reading challenge with the goal of inspiring participants to read more and interact with their friends and the book community about what they’re currently reading, the company said.

To participate in the challenge, readers have to commit on their Facebook page to read one or more books between Jan. 24 (National Readathon Day) and Feb. 28 using the hashtag #NOOKReadingChallenge.
Dollar General CEO to fight on

Dollar General CEO Rick Dreiling had planned to retire in a few months, but after Family Dollar shareholder’s snubbed his company’s buyout offer, Dreiling said he’ll stick around a bit longer.
Tech Guest Viewpoint: Beat the Consumer Goods Supply Chain Challenge

By Rich Becks, E2open

To stay competitive in today’s marketplace, consumer goods companies are reaching across the globe to seek new customers in new markets. In order to cater to these new customer segments, brand owners are now providing a dizzying array of local product variations through a complex network of outsourced manufacturing partners.
NRF: Super Bowl spending on the rise

Washington, D.C. – An estimated 184 million viewers will watch Super Bowl XLIX on Sunday, Feb. 1. According to NRF’s Super Bowl Spending Survey conducted by Prosper Insights & Analytics, average viewer spending will reach a survey high of $77.88, up from $68.27 in 2013.

Total spending is expected to reach $14.3 billion. Young adults ages 18-24 plan on spending an average of $95.92; those ages 25-34 and 35-44, however, will spend slightly more at an average of $101.54 and $102.82, respectively.
Consumers’ favorite fashion retailer is…

Louisville, Colo. -- Nordstrom ranked as consumers’ favorite fashion retailer for the third consecutive year, followed by Kohl’s, T.J. Maxx, Macy’s and Dillard’s. That’s according to a study by Market Force Information, a provider of customer intelligence solutions.
Strong holiday performance drives Starbucks Q1 growth

Seattle -- Starbucks Corp.’s first-quarter profit surged 82% as new offerings and holiday gave a boost to store traffic. Net income increased to $983.1 million, from $540.7 million a year earlier.

Consolidated net revenues the quarter, ended Dec. 28, increased 13% to $4.8 billion. Global same-store sales increased 5%, with a 2% increase in traffic. Same-store sales in the company’s U.S.-dominated region rose 5%, with a 2% increase in traffic, better than analysts had expected.