News

Destination XL posts Q3 loss, will open new DXL stores
Canton, Mass. – Destination XL posted a loss of $6.3 million in the third quarter of fiscal 2014, up from a loss of $4.1 million the same quarter a year earlier. Transition costs, including lease exits and pre-opening costs, contributed to the growing loss.
Analysis: Zappos goes brick-and-mortar
The news that Zappos opened its first freestanding store caught by the industry by surprise. Here are two expert views:

Walmart lights the way on solar energy

Walmart is fulfilling its promise earlier this year to make a big investment in solar energy: The retailer has accepted bids from SunEdison and SolarCity to install as many as 400 new solar systems on its facilities over the next four years.
Guest Commentary: Black Friday - Retailers are doing it wrong

By Jason Becker, RICS Software Retailers – take a step back from Black Friday weekend this year. I’m not suggesting you shouldn’t move forward with your promotions and sales. Everyone knows that Black Friday weekend can be one of the most profitable times of the year for retailers. But relying too much on this crazy weekend of shopping to generate holiday season profits is a big mistake.
Zappos goes brick-and-mortar in Las Vegas

Online powerhouse Zappos has opened its first-ever freestanding store, a 20,000-sq.ft. pop-up in the company’s hometown of downtown Las Vegas. Powered by state-of-the-art technology, the shop blends online and offline retail. In keeping with the brand’s heritage, it will be open 24 hours a day, seven days a week, from November 21 until December 31.
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.