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Back-to-School Shoppers Go Online
One-third of back-to-school shoppers are conducting at least half of their back-to-school shopping online this year, according to the Compete Online Shopper Intelligence Study.Back-to-School Shoppers Buy Most Electronics Online
On average, back-to-school shoppers will conduct 70% of their electronics shopping online this year. Electronics are by far the most...
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Environmental Update: Burger King, Sustainable Packaging, IKEA
Each week, Retailer Daily provides a review of notable environmental news happening in the retail industry. Articles are provided courtesy of Environmental Leader.Burger King Cuts Energy Costs 45%
Burger King has unveiled a new energy-efficient restaurant located in Germany that uses state-of-the-art technologies and renewable energy to power one-third of the restaurant’s energy...Continue Reading »
Williams-Sonoma Seeks Store Closures in Large Markets
Specialty retailer Williams-Sonoma intends to shutter an undisclosed number of stores in large, multi-store markets. According to the Wall Street Journal, Williams-Sonoma CFO Sharon McCollam told attendees of an investor conference the retailer’s goal is optimizing cost per square foot rather than simply reducing store footprint.During the next three years, 25% of Williams-Sonoma’s...Continue Reading »
School’s In at Target
While summer vacation only began a few weeks ago for many American youths, discount retailer Target is already starting the back to school shopping season with a major promotional push. Target is offering several exclusive collections across the fashion, school supplies and technology categories, and has developed an online back to school shopping tool.Target’s private label back to...Continue Reading »
Canadian Retail Sales Change Course
Following three straight months of growth, Canadian retail sales fell during April 2009. In current dollars, Canadian retail sales dropped 0.8%, from $33.9 billion CAD to $33.5 billion CAD. Retail sales volume in April decreased 0.6%, mostly offsetting a 0.7% increase in March. According to Statistics Canada, of eight retail categories tracked, five showed sales declines. Automotive...Continue Reading »
Macy’s Enlists Outside Help in Localization
Upscale department store Macy’s is partnering with merchandising firm MCG (Market Connect Group) to help manage its MyMacy’s merchandise localization program.The MyMacy’s initiative, which began as a pilot at 20 store locations in spring 2008, will require top vendors to work directly with 69 Macy's districts grouped into eight regions across the U.S. Each district will average...Continue Reading »
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Sears Has Mixed Q1
Broadline retailer Sears Holding Company, which reported significant losses in Q4 and fiscal year 2008, reported mixed results for Q1 2009 (ended May 2, 2009), with operating and net income and gross margin rate going up and total revenues, comparable store sales and gross margin dollars going down. Selected financial highlights and analysis follow.Foreign Exchange Rates and Same-store...Continue Reading »
Canadian Retail Sales Rise for 3rd Straight Month
Driven by higher sales at new car dealers, Canadian retail sales rose for the third straight month in March 2009. In current dollars, Canadian retail sales increased 0.3%, from $33.7 billion CAD to $33.9 billion CAD. Unlike February 2009, when retail sales volume dipped 0.3%, in March retail sales volume rose 0.7%.According to Statistics Canada, of eight retail sectors tracked, four...Continue Reading »
Target Q1 Earnings Drop, Sales Rise
Discount retailer Target Corporation reported a 13.2% drop in net earnings for Q1 2009 (ended May 2, 2009), but saw sales rise 0.4%. Selected financial highlights and analysis follows.Net Earnings Drop Double Digits
During Q1 2009, Target reported net earnings of $522 million. This represented a 13.2% decline from net earnings of $602 million in Q1 2008.
Store Expansion Aids Net...Continue Reading »
Wal-Mart U.S. Net Sales Rise in Q1 ‘10
Discount retailer Wal-Mart Stores, Inc. reported a 3.8% net sales increase [pdf] in its U.S. segment during Q1 2010 (ended April 30, 2009). However, the impact of foreign currency conversion drove down the retailer’s international and overall net sales results. Selected financial highlights and analysis follow:Net Sales Improve Domestically, Decline Internationally
Wal-Mart reported...Continue Reading »