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Less than 7 weeks after Jo.s A. Bank looked to acquire troubled apparel merchant Men’s Wearhouse, Men’s Wearhouse made an offer Tuesday to acquire Jos. A. Bank for $1.2 billion.
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.
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.
The U.S. Postal Service lost $5 billion in fiscal 2013, which ended on Sept. 30. However, the USPS highlighted in a press release that it did see a slight revenue increase, thanks in part to an 8% growth in its package services business.
Little Tikes has rolled out a website “renovation,” providing a redesigned look and feel, added content and more insight and value to its consumers. The brand also rolls out its new tagline, “The Wonder of Little Tikes,” embracing the awe-inspiring moments that connect parents and their children.
by Niko Lutkins
Posted 21 hours ago
by Liat Fuchs
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