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Walmart Stores Inc’s board of directors has elected company veteran Doug McMillon to succeed Mike Duke as president and chief executive officer, effective Feb. 1. McMillon was also elected to the company’s board of directors effective immediately.
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Williams-Sonoma Inc.’s direct-to-customer revenues for the third quarter were more than $511 million, a 14% increase compared to the same period in 2012. Direct made up 49% of all revenues for the comapny.
Sears Holdings said in its third-quarter earnings release that it has seen 17% year-to-date growth in its online and multichannel sales over the prior year. However, total sales for the parent company of Sears and Kmart was down 3.1% for the quarter.
More shoppers will engage in couch commerce since they know that they can find the widest selection at the best price without leaving their couch or dealing with the masses.
Staples as a whole did $6.1 billion in sales during its fiscal third quarter. However, that equates to a decrease of 3.8% compared to the same period in 2012. Its ecommerce and B2B sales, however, were positive.
Third-quarter net sales at JCPenney were down 4.8%, but its ecommerce arm continues to shine. Online sales through JCP.com were $266 million for the quarter, up 24.5% versus the same period last year and reflecting sequential increases through the quarter.
FTI Consulting believes that retailers’ gross margins will continue to be pressured by aggressive promotional activity. Retailers focused on the bottom-line must decide how to approach holiday markdowns without jeopardizing the profitability of the season.
Best Buy’s third-quarter domestic online revenue increased 15.1% to $499 million, the company said Nov. 19 in its earnings release.
Walmart reported its net sales for the third quarter of $114.9 billion, an increase of 1.6% from last year, according to its financial report released on Nov. 14.