Retail

Bed Bath Q2 Net Dives 10.2 Percent

Bed Bath & Beyond Net Edges Up 1.8 Percent in Sluggish Q3

UNION, N.J.-Second-quarter net income for Bed Bath & Beyond dropped 10.2 percent to $224 million, as increased costs trumped a modest sales gain. In a conference call yesterday to financial analysts about the quarter, which ended on Aug. 30, Steven Temares, Bed Bath’s CEO, said a major portion of these added expenses involved technology, asMore »

Last updated: September 24, 2014

Deloitte: Holiday Sales Heading Up

Deloitte: Warehouse Clubs Will Top Other Channels in Consumer-Products Sales Growth

NEW YORK-A modest gain in retail sales for the coming holidays is in the offing, according to a forecast from Deloitte, the retail consulting firm. The company said holiday sales should rise by from 4 to 4.5 percent over last year’s holidays, reaching between $981 billion and $986 billion. Deloitte’s measure encompasses retail sales forMore »

Last updated: September 24, 2014

Wayfair IPO Could Garner Up to $308 Million

Wayfair.com

BOSTON-Wayfair’s initial public offering could bring in up to $308 million in proceeds, according to a filing by the Internet retailer with the U.S. Securities and Exchange Commission. The offering involves 11 million shares, with an estimated price of between $25 and $28 a share, the filing said. According to press reports (unconfirmed by WayfairMore »

Last updated: September 23, 2014

Home Depot Security Breach Affects 56 Million Cards

Home Depot

ATLANTA–Home Depot said yesterday that as many as 56 million debit and credit cards may have been compromised during a five-month long security breach. The retailer said that it began an investigation into a possible security breach on Sept. 2, immediately after it received reports from its banking partners and law enforcement that criminals hadMore »

Last updated: September 19, 2014

Pier 1 Q2 Net Nearly Halved

Pier 1

FORT WORTH, Texas-Second-quarter net income for Pier 1 Imports fell 48.6 percent to $9.2 million, as increased expenses trumped a gain in sales. Selling, general and administrative expenses in the quarter, which ended on Aug. 30, jumped 10 percent in dollars and 120 basis points as a percentage of sales, to 32.2 percent. Gross marginMore »

Last updated: September 18, 2014

Burlington Names Cooper, McNamara to Board

Frank Cooper III

BURLINGTON, N.J.-Frank Cooper III, chief marketing officer, global consumer engagement for PepsiCo’s Global Beverages Group, and William McNamara, former chairman and CEO of Macy’s Midwest, have joined the Burlington Stores board of directors. Cooper has served in his current role with PepsiCo since January 2010. His career also includes executive positions with America Online, UrbanMore »

Last updated: September 18, 2014

Family Dollar Board to Shareholders: Don’t Go for Dollar General Offer

H09-FamilyDollar3_R1

MATTHEWS, N.C.-The Family Dollar board of directors has recommended that the retailer’s shareholders reject Dollar General’s latest bid to acquire its dollar-store rival. Last week, Dollar General took its all-cash offer of $9.1 billion, which had been rejected by the Family Dollar board, directly to the shareholders. In a statement issued this morning by FamilyMore »

Last updated: September 17, 2014

Macy’s Outlines New Developments in Omnichannel Effort

Macy’s Inc.

CINCINNATI-Macy’s has augmented its omnichannel strategy and technology with several new developments. As of Sept. 9, Macy’s and Bloomingdale’s stores are supporting the Apple Pay mobile payment system, which will be launched this fall on Apple’s new iPhone 6 and iPhone 6 Plus mobile devices, and on the new Apple Watch. In addition, both storesMore »

Last updated: September 16, 2014