News

Atlanta - The Home Depot Inc. faces at least 44 lawsuits connected with a data breach that affected the retailer from April-September 2014. In a regulatory filing, the retailer said state and federal agencies are investigating the breach and more legal action is possible. The Home Depot also said ongoing breach-related investigation and litigation could affect operations and distract management, as well as incur additional unspecified costs and fines.

Columbus, Ohio – DSW Inc. exceeded Wall Street expectations for net income and sales in the third quarter of fiscal 2014. Net income fell a less than expected 10% to $49.55 million from $54.96 million the same quarter a year earlier, with higher operating expenses and lower pretax income contributing to the decline. Sales totaled $670 million compared to $633 million and same-store sales rose 2.6%.

Temperatures are forecast to trend warmer than last year for the U.S. as a whole. However, the Southeast may see some cooler trends compared to last year. There is high confidence that the Great Lakes, New England, and South Central states will trend warmer than last year. Onshore flow in the West will bring milder and wetter weather to the region.  A more pronounced flow of moisture will bring more snow to the West Coast mountain ranges. At least one storm will eject out of the southern Rocky Mountains spreading a swath of snow from New Mexico to the Great Lakes and New England.

Washington - The Conference Board said Tuesday that consumer confidence in November fell to a reading of 88.7, down from a revised 94.1 in October. The drop, which surprised analysts, put the index at its lowest level since June.   "Consumer confidence retreated in November, primarily due to reduced optimism in the short-term outlook,” said Lynn Franco, director of economic indicators, Conference Board.  

Foothill Ranch. Calif. - Struggling teen apparel retailer Wet Seal has hired an investment banker and a senior adviser to analyze potential financial alternatives. Similar to other retailers in the teen sector, Wet Seal has faced up stepped-up competition from fast-fashion leaders such as Forever 21 and H&M.   

By Christopher Birkholm    As the official kick-off of the holiday season approaches, your core online holiday campaigns are all wrapped up and ready for holiday shoppers. This year, it is expected that online consumer spending will rise 16%  over last year to approximately $60 billion, according to the comScore forecast. Desktop commerce is expected to jump nearly 14% while mobile commerce could see an increase of nearly 25%.  

It’s been another big year in terms of new store openings in New York City. Here are my top 10 faves:

When was the last time you heard someone say, without a trace of irony, that a big-box store helped them get through the day?

Twenty-five years ago, Ray Oldenburg published “The Great Good Place: Cafes, Coffee Shops, Community Centers, Beauty Parlors, General Stores, Bars, Hangouts and How They Get You Through the Day.” Oldenburg, an urban sociologist, explained how certain stores were more than just places to shop.