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MULTICHANNEL MERCHANT » EXECUTIVE
RadioShack announced this week that it plans to close 1,100 under performing stores as well as huge losses in its fourth quarter earnings. According to its Q4 financials, the electronics retailer reported that net sales and operating revenues for the quarter decreased to $935.4 million from $1.17 billion in the same quarter last year
Men’s Wearhouse has confirmed that it entered into a non-disclosure agreement with Jos. A. Bank and agreed to exchange certain confidential information and to work in good faith to evaluate a potential combination. It was also announced that Men’s Wearhouse has received a draft merger agreement from Jos. A. Bank.
Sean Conlon, the co-founder and CEO of PetBox, got candid with Multichannel Merchant and opened up about his preferences for free shipping, same-day delivery, which merchant is mastering the fulfillment space, and his dreams of playing in the NFL.
Home Depot has announced that Craig Menear has been named the U.S. Retail President. In his new role, Menear will add responsibility for all of Home Depot’s U.S. store operations, with Marvin Ellison, executive vice president, U.S. stores, reporting to him.
It was a good quarter for online sales at Best Buy. The company reported that comparable online sales of $1.57 billion saw an increase of 25.8% over 2012, according to its earnings release.
Chico’s FAS ended its fiscal year with flat net sales, and was hurt by a 6.4% decrease in fourth-quarter sales, the retailer said in its earnings release.
Sears Holdings’ domestic comparable store sales declined 3.8%, comprised of decreases of 3.6% at Kmart and 4.1% at Sears Domestic in fiscal year 2013. Here’s a full look at Sears Holdings’ full-year financial results.
While the fourth quarter showed a 1.6% decline in sales, Karen M. Hoguet, chief financial officer at Macy’s, said moving forward the retailer plans on making strides in its omnichannel fulfillment initiatives including buy online, pick up in-store, and same-day delivery.
What did the major data breach at Target mean for the merchant’s bottom line? It meant fewer consumers shopping at the mass merchant, as well as a $17 million net expense related to the data breach investigation. Target announced Wednesday that sales for its U.S. segment in the fourth-quarter decreased 6.6%.
Lowe’s sales for the fourth quarter increased 5.6% to $11.7 billion from $11.0 billion in the fourth quarter of 2012, and for the fiscal year, sales were $53.4 billion, a 5.7% increase over fiscal year 2012.
by Niko Lutkins
Posted 1 day ago
by Liat Fuchs
Posted 2 days ago