News

Nordstrom rolls on, loyalty expands
New stores, 3.9% same store sales growth and increased loyalty propelled Nordstrom to record third quarter sales.

The company’s total sales increased 8.9% to $3 billion thanks to the addition of new stores and a 3.9% same store sales increase that was driven by online growth. Profits increased 3.6% to $142 million compared to $137 million while earnings per share increased 5.8% to 73 cents from 69 cents.
Survey: Retailers gear up for early shopping and stepped-up seasonal hiring
North Plainfield, Ill. -- With momentum picking up as the holiday shopping season approaches, retailers polled in Levin Management’s 2014 Pre-Holiday Retail Sentiment Survey are showing strong enthusiasm for seasonal sales potential. The findings also indicate expectations for strong pre-December shopping and plans for stepped-up temporary hiring with positions that may carry into the new year.

Sears offers loyalty members early Black Friday access

Hoffman Estates, Ill. –- Sears will provide members of its Shop Your Way loyalty program access to many Black Friday deals one full week before Thanksgiving,on Sears.com from 6 p.m. on Nov. 20 until 11:59 p.m. (CT) on Nov. 21. During this online member-exclusive pre-sale event, members can log on to their Shop Your Way account during the sale to access the deals.
Target acquires shopping technology firm

Minneapolis -- Promising an “Amazon-like experience” in its stores, Target Corp. has acquired a Pittsburgh technology firm that says its software platform brings "an Amazon-like shopping experience" to in-store customers. Target and Powered Analytics co-founder Collin Otis have confirmed the deal but have not disclosed the terms. The firm will reported remain headquartered in Pittsburgh.
Amazon ramps up SKUs in readiness for Black Friday

New York -- Ramping up for Black Friday, Amazon increased its product listings by 43% in the third quarter of 2014, adding four times as many SKUs to its website between July and September than it did in the entire first half of 2014. According to a report by CommerceHub, the online retail giant primarily grew products within the categories of electronics, home improvement and health & beauty.
GameStop introduces Holiday Hub

Grapevine, Texas –- GameStop is introducing the GameStop Holiday Hub. a seamless online experience allowing customers to check out gift guides, find deals, determine trade-in values, learn about layaway options, and other shopper-friendly tools such as in-store pickup of online orders.
Sears encouraging customers to shop its way

Sears is offering early access to Black Friday deals as a means to entice customers to join its free Shop Your Way membership-based loyalty program.

The retailer said its Shop Your Way members can begin Black Friday a week early at Sears.com when exclusive pricing on key items becomes available at 6 p.m. on Nov. 20. Then on Thanksgiving Day, Sears stores will open at 6 p.m. with more than 1,000 doorbuster deals continuing through 1 p.m. on Black Friday.
Online retailers miss sales with irrelevant items

London, U.K. -- Nearly three-quarters of online retailers (74%) miss out on sales by promoting irrelevant items to online shoppers. According to new research from OrderDynamics, as retailers prepare for the crucial holiday shopping season, many could be driving customers away by promoting irrelevant products, failing to build customer relationships through intelligent follow-up, and ignoring consumer preferences on end-to-end order tracking.
Why gift cards keep growing

Gift card sales are expected to reach record levels again this holiday season and new research from the National Retail Federation (NRF) offers insight into the increased popularity of stored value products.

More than half of shoppers polled by NRF’s Gift Card Spending Survey said they will buy gift cards this holiday season because the cards allow the recipient to select their own gift. More than 25% of shoppers said gift cards are easier and faster to buy, and 3.8% said the cards help them stick to their holiday budgets.
Walmart gives gift of positive comps

Walmart’s same store sales turned positive during the third quarter, ending a two year drought, prompting the company to forecast a U.S. comp increase of as much as 1% during the fourth quarter.