Despite severe weather that caused a 0.7% decrease in January sales, Stein Mart looks like it will report its seventh consecutive quarter of comparable-store sales increases when it closes the fourth quarter.
This holiday season was one of the first real opportunities for retailers to flex their omnichannel muscle. A shorter-than-usual holiday season, combined with ongoing economic uncertainty, led consumers to turn to a variety of shopping channels in their search for the most efficient and cost-effective way to round out their gifting lists. Likewise, many shoppers also demonstrated a desire to return products across these various channels. But were retailers ready?
When specialty retail apparel chain Express issued its fourth quarter guidance in early December 2013, it anticipated a promotional holiday season as well as a slowdown in traffic after the Thanksgiving week. What the company encountered, however, was a drop in traffic that was even deeper than expected because consumers waited until much closer to Christmas to shop.
Just a couple of days after news that Barnes & Noble permanently closed its onetime flagship on Fifth Ave. in New York, the company reported a revenue decrease of 6.6% for the nine-week holiday period ending Dec. 28, 2013 in its retail segment.
Only two-thirds of Americans are all or almost finished with their holiday shopping as of Dec. 23. Of the 24 retailers surveyed by America’s Research Group and Inmar, only three retained 70% or more of their customer base, with Walmart topping the list at 88.1%, followed closely by Dollar Tree at 80.4%, and Target at 72.1%.
Newegg, a leading electronics-focused e-retailer in the United States, is leveraging its record-breaking Black November sales for its Marketplace Division to drive additional sales this holiday season.
The retail industry will lose an estimated $8.76 billion to return fraud this year, and $3.39 billion during the holiday season alone, according to the National Retail Federation’s 2013 Return Fraud Survey. Overall, 5.8% of holiday returns are fraudulent, up slightly from 4.6% last year.
With the holiday shopping season underway and many retailers bracing for stiff competition, Kohl’s plans on keeping its doors open for more than 100 hours, from 6 a.m. Friday, Dec. 20 through 6 p.m. Christmas Eve, Tuesday, Dec. 24.
Unprecedented shopper traffic was seen at Target on Black Friday, according to president, CEO and chairman, Gregg Steinhafel, who also said the retailer provided exceptional service without offering much insight into sales.
Given the origins of Cyber Monday, it should have become irrelevant in the grand scheme of online holiday sales. That’s far from the case though as evidenced by the latest insights from digital measurement firm comScore.
Ascena Retail Group, parent company of Lane Bryant, Dressbarn and Justice, may have just reported same store sales growth across all its formats and achieved Thanksgiving weekend sales objectives, but president and CEO David Jaffe remains cautious in his outlook for the remainder of the holiday season.
Early this week, Target began to generate traffic to its e-commerce site ahead of Cyber Week. They offered REDcard holders an exclusive online Black Friday preview sale, and Cartwheel app users Black Friday-like deals.