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‘The Daily Wrap’: Nordstrom, Organized Retail Crime, Target
“The Daily Wrap” offers a roundup of the day’s biggest retail industry headlines. Following are some news items you may be interested in checking out.
Nordstrom Going Global
Upscale department store retailer is expanding its retail operations to 30 countries outside the U.S. via e-commerce. Source: RetailWire (reg. req’d.)
Fourth ORC Bill Introduced in Congress
Two Republican...
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Trends in Guidance for 2009 - Update
This year, public retailers have varied in how they provide, or decline to provide, financial or earnings guidance for the upcoming fiscal year. Virtually all of the retailers who declined guidance have cited continuing economic uncertainty as the reason for not releasing specific financial projections.
However, a number of public retailers have continued to offer financial guidance for the...
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Fergie Marches Into Retail with Shoe Lines
Following in the footsteps of contemporary pop stars such as Britney Spears and Avril Lavigne, popular singer Fergie is launching two exclusive lines of footwear with Brown Shoe Company.
According to Brown Shoe Company, the shoe lines, Fergie and Fergalicious by Fergie, are offered at different price points and will be available at different retailers. The Fergie line will be priced from $69 -...
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Nordstrom Reports Declining Quarterly and Yearly Earnings
Upscale department store retailer Nordstrom Inc. reported significant decreases in net earnings and total sales for the fourth quarter and full year of fiscal 2008. Despite these results, Nordstrom still plans expansion in fiscal 2009.
Net earnings for the fourth quarter ending Jan. 31, 2009 were $68 million, or $0.31 per diluted share. For the same quarter in fiscal 2008, Nordstrom reported...
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Customer Satisfaction Improves Overall, Retail Makes Largest Gain
Customer satisfaction with the goods and services that Americans buy improved in the fourth quarter of 2008, according to (pdf) the American Customer Satisfaction Index (ACSI), which climbed to 75.7 on the ACSI’s 100-point scale, up 0.9% from the previous quarter.
Every fourth quarter ACSI measures customer satisfaction with retail, finance and insurance, and e-commerce.
Consumer spending has...
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January Same-Store Sales Bleak, but Some Bright Spots
Some bright spots shone through an otherwise bleak January for US retailers, though the month wasn’t as dismal as some analysts had projected, despite four consecutive months of same-store sales declines.
Same-store sales across the industry declined, on average, 1.8% during the month according a Thomson Reuters survey of 35 retailers. That was the second-biggest behind November’s 2.1% decline,...
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Youth Changing Specialty-Retail Competitive Landscape
Although retail sales continue to slump, two specialty stores are almost certain to undergo same-store sales growth over the next two months, even as discount and wholesale stores take sales away from department stores, according to Prosper Technologies, LLC’s ForecastIQ service.
The forecast bodes well for Aeropostale and Buckle, but not for Abercrombie & Fitch and American Eagle, which are...
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Most Valuable US Retail Brands Led by Wal-Mart, Best Buy, Home Depot
Wal-Mart claimed top honors as the most valuable retail brand, followed by Best Buy (No. 2), The Home Depot (No. 3), Target (No. 4), and CVS (No. 5), according to Interbrand Design Forum’s “Most Valuable US Retail Brands” ranking of the top 50 American retail brands.
With shoppers having changed their behavior in response to a downturned economy, and with brand accounting for up to 80% of the...
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Retailers’ Balance Sheets Tell All
As holiday season sales results come rolling in, analysts stipulate that the downturn in sales may push even more retailers into bankruptcy court. But sales trends are not the only measure of a retailer’s health, Barron’s writes.
To distinguish the companies with promise from those that are truly in danger of going under, it examined other factors on the corporate balance sheet, like ratios of...
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JCPenney, Nordstrom Q3 Profits Plunge
JCPenney Co. reported a 52% plunge in profits during the third quarter ended Nov. 1 as net earnings totaled just $124 million ($0.56 cents/share), down from $261 million ($1.17/share) in the same period last year.
Revenue fell 9% to $4.32 billion from $4.73 billion in 3Q07, reports the AP (via Forbes.com).
The company attributed the loss to the consumer-spending cutback that has been affecting...
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