News

New York – Profit and revenue for Tiffany & Co. exceeded Wall Street predictions during the second quarter of fiscal 2014. Net earnings rose 16% to $124 million from $107 million in the second quarter of the previous fiscal year, which the retailer attributed to worldwide net sales growth and gross margin improvements.

Worldwide net sales increased 7% to $992.9 million, from $925.9 million. Strong performance in the colored diamond and statement jewelry categories helped drive sales.

While gift cards are still made of plastic, digitally formatted gifts cards are increasing in popularity. (According to research by payments giant First Data, electronic gift card sales grew 71% from 2012 to 2013.) Consumers particularly like the customization options — including video and audio in some instances — that some retailers offer with digital cards.

Express CEO Michael Weiss was optimistic about the retailer’s progress in the second quarter, especially considering the difficult environment the company has been dealing with in recent months.

Franklin, Tenn. -- The retail and hospitality market is entering a time of unprecedented IT growth for 2015, with overall spending expected to increase 5% over 2014  and surpass $190 billion worldwide, according to a new report by IHL, a global research and advisory firm specializing in technologies for the retail and hospitality industries.

With all the attention being paid to mobile commerce, wearable technology and other cutting-edge developments in the world of retail IT, the in-store POS terminal is sometimes taken for granted.

While food and consumable retailers are struggling to pass along price increases and grow same stores sales, luxury retailer Tiffany is having little difficulty with either metric.

Los Angeles -- Guess on Wednesday reported second-quarter net earnings of $22 million, a 50.5% decrease compared to adjusted net earnings of $44.3 million for the year ago period. The retailer, which also cuts its fiscal year outlet, noted that soft traffic and promotional activity have continued to put its North American stores under pressure.

By definition, successful retailers are very good at logistics.    

“Compared with other industries, retailers are a benchmark of logistical efficiency for moving items through their distribution channels and on to shelves in a timely way,” said Jim Griffin, senior VP sales, PODS, whose detached delivery system allows placement of containers in tough-to-reach and hard-to-fit locations.
    
Griffin spoke with Chain Store Age about how logistics efficiency can add to a retailer’s bottom line.
    
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