News

Denver -- The majority of consumers are being budget-smart about back-to-school shopping. Not only are they seeking out the best prices, but they’re also shopping early – 48% of shoppers polled said they were beginning their shopping a month before the first bell rings, according to a back-to-school shopping report by ShopAtHome.com, the coupon search engine. The report, which tracks consumer search habits on the site, also shows that 42% of consumers will shop more generic brands than last year.

CHICAGO — Claire's Stores announced that Jay Friedman, president of Claire's Stores North America, has resigned effective immediately. Claire's has commenced a search with the executive recruiting firm of Spencer Stuart to fill the open position.  Until a replacement is appointed, James Fielding, Claire's CEO, will assume Mr. Friedman's duties.

Armonk, N.Y. -- Hypermarket chain Real, part of Metro Group, worked with IBM to launch a new electronic coupon system throughout its 320 German stores. This first-of-a-kind digital coupon system, developed with IBM Research scientists, enables consumers to use their mobile phones to find and redeem e-coupons as they shop in stores. It delivers a convenient and personalized service to shoppers, even if they left their paper coupons at home.

INDIANAPOLIS — Hhgregg's first quarter loss widened to $5.7 million, or 16 cents per diluted share, from a loss of $0.8 million, or 2 cents per diluted share, for the comparable prior year period, thanks to same-store sales decline of 5.1% and increased expenses.

Indianapolis -- Hhgregg reported Thursday a loss of $5.7 million for the quarter ended June 30, compared with a loss of $0.8 million in the year-ago period. The electronics and appliances retailer cited higher expenses coupled with same-store sales declines for the poor performance.

Net sales increased 13.5% to $489.9 million from $431.5 million, and same-store sales decreased 5.1%.

PLEASANTON, Calif. and FRAMINGHAM, Mass. — Retailers of discounted apparel should feel pretty good heading into back-to-school season, as shown by the strong monthly performance of Ross Stores and TJX Cos. With both delivering another month of comps growth, it’s clear value-oriented stores remain popular with consumers.

Sales at Ross increased 12% to $709 million for the month, up from $635 million for same period last year. Comparable-store sales for the month grew 7% on top of a 7% increase last year.

Target is engaging Facebook to help determine how half of a $5 million back-to-school donation is allocated.

The retailer plans to donate $5 million to schools as part of its “Give With Target” initiative this fall. The two-part giving campaign provides $2.5 million in grants to in-need schools, as well as up to $2.5 million in Target GiftCards to local schools through votes on Target’s Facebook page.

Memphis, Tenn. -- Discount-store operator Fred's Inc. said Wednesday that its same-store sales increased 1.2% during the four weeks ended July 28, helped by markdowns that increased customer traffic. The company also raised its earnings guidance for the second quarter, citing a tax settlement with the state of Tennessee.

Total sales for the month rose 5% to $136.7 million.