News

Wet Seal names interim CFO
FOOTHILL RANCH, Calif. - The Wet Seal announced that Thomas R. Hillebrandt will assume the role of interim CFO, effective December 1, 2014, concurrent with the previously announced resignation of Steven H. Benrubi, the company’s current CFO. Hillebrandt has served as VP and corporate controller at Wet Seal since September 2013.
Foot Locker quickens its pace
Enhanced onmichannel capabilities were among the factors that incoming Foot Locker CEO Dick Johnson cited as contributing to the company’s increase in third quarter profits and same store sales.

Profits for the third quarter climbed to $120 million, or 82 cents per share, compared with profits of $104 million, or 70 cents per share, in the prior-year quarter. Third quarter same store sales increased 6.9% to $1.7 billion this year, compared with sales of $1.6 billion for the prior-year period.

Why Alco Stores is going out of business

Coppell, Texas – Bankrupt retailer Alco Stores is going out of business, and closing its 198 stores, a victim of both the economy and the changing retail landscape.
It’s the blackest Friday ever for Alco

Alco Stores is offering retailers a cautionary holiday tale this Christmas as going-out-of-business sales have begun at the regional discounter’s 198 locations.
Survey - Lack of assistance, engagement hinders e-commerce

Sunnyvale, Calif. - The number one reason why some consumers avoid online shopping is the lack of in-person assistance and proactive engagement from brands. According to a survey of 2,500 consumers about their online shopping plans and preferences for the upcoming holiday season conducted by e-commerce technology provider Moxie, 72% of survey respondents indicated that they want brands to proactively engage with them online, especially when they are struggling on a website.
Wal-Mart launches omnichannel Cyber Week promotion Nov. 29

San Bruno, Calif. – Wal-Mart Stores Inc. is offering 500 online deals during Cyber Week, starting Saturday, Nov. 29, more than double the number of cyber deals it offered last year. Every day through Friday, Dec. 5, Walmart.com will offer 500 discount items, with the best deals arriving on Cyber Monday, Dec. 1.
Survey: Consumer electronics hot item this holiday, with Amazon and Walmart top destinations

ENGLEWOOD, Colo. - It’s going to be a very good holiday for consumer electronics purchases, according to a survey by IHS Inc., with seven out of 10 U.S. consumers (68%) planning to buy consumer electronics during the 2014 holiday season.
Serving big men yields big results at DXL

Clothes aren’t the only thing big at Destination XL as evidenced by a double digit third quarter comp increase aided by omnichannel integration.

Sales at Destination XL increased 5% to $93.6 million, compared with $88.7 million in the prior-year quarter. Same store sales increased 5.5%.
And the 10 biggest myths of holiday spending are….

New Canaan, Conn. - Count on Customer Growth Partners president and CEO Craig Johnson to provide a refreshing break from the standard Black Friday forecast. Here’s his take on the top 10 retail-related holiday myths of 2014:
X Team International reports $746 million in 3Q transactional volume

Boston - X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S. and Canada, released third quarter transactional volumes totaling $746 million, bringing its year-to-date transactional volume to more than $2.24 billion.