News

Houston -- Francesca's Holdings Corp. on Tuesday reported second quarter net income of $10.3 million, down from $14.6 million in the year-earlier period. Earnings and sales both fell short of estimates. The retailer also lowered its earnings outlook for the year.

Net sales rose 9% to $97.3 million, driven largely by new openings. Total apparel sales increased 14%, accessories sales increased 14%, and gift sales increased 25%. The gains were offset by a 12% decrease in jewelry sales,

Same-store sales fell 7%.

Francesca's saw improvement in sales trends for its apparel, accessories and gift categories in the second quarter of 2014. But these were offset by weak jewelry sales, which took a bite out of the retailer’s gross profit.

Toronto - Staples Canada is expanding its Bullfrog Power partnership to support renewable energy in four additional stores. Through the partnership, Bullfrog Power injects clean, renewable electricity onto the grid to match the amount of energy the Staples facilities use.

ECRM compared retail circular advertising in August 2013 versus August 2014 and noted trends occurring across top retail chains. Back-to-school season was in full swing, yet the drug retailers took opposite approaches to their promotions. Walgreens featured multiple BTS promotions on each of its front pages both this year and last. On the other hand, CVS’s front pages did not feature any traditional school/office supplies, instead focusing on the cosmetics category in three of its four August 2014 circulars.

Austin, Texas - Nearly all Americans (96%) are coupon users, according to the latest edition of the Shoppers Trend Report conducted in conjunction with The Omnibus Company. The number of Americans who rely mostly on mobile coupons has been steadily increasing during the past few years (15% in 2014, compared to 10% in 2013 vs. 4% in 2010).

By Andrea Morgan-Vandome, Oracle Retail

Secaucus, N.J. -- The Children's Place announced the appointment of Robert Vill as group VP, finance, effective Sept. 8. He will report to Michael Scarpa, COO and CFO.

Electrolux has entered into an agreement to acquire the appliances business of General Electric, one of the leading manufacturers of kitchen and laundry products in the United States, for a cash consideration of $3.3 billion.