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A decades-old requirement that retailers put a price tag on each item they sell is no longer beginning today. Instead of putting price stickers on each item, stores can now use other forms of price marking, such as clearly displaying signs on shelves or making price scanning available to customers.
JoS. A. Bank reported that net income for the second quarter surged 24.7 percent to $20.6 million, compared with $16.5 million in the year-ago period. Sales rose 22.4 percent to $230.7 million from $188.4 million.
For the last 25 years, Dennis May has been involved in the retail industry — and he's loved every second of it. From his modest beginning selling audio equipment to help support himself while in college (that was the cool job at the time, May recalls) to his tenure today as president and CEO of one of the fastest-growing cross-channel retail brands out there, the one constant has been retail. But that's just part of the reason we've chosen May as our 2011 cross-channel retailer of the year.
Nike has opened a brand experience store in Dallas. Nike Dallas offers shoes and apparel for a variety of sports, as well as NikeiD — a computer service that allows shoppers to design colorful sneakers and customize clothing with colors, logos and inscriptions.
Dollar General reported that its second quarter net income rose 3.5 percent to $146 million from $141.2 million in the year-ago period. Sales increased 11 percent to $3.58 billion; same-store sales rose 5.9 percent. Its results beat expectations and also raised its full-year outlook.
Barnes & Noble says its net loss narrowed in its fiscal first quarter as sales of its Nook e-book reader and e-books helped offset lower physical book sales. Traditional booksellers are facing tough competition and Barnes & Noble has invested in its e-book reader to combat this.
As part of a social media blitz promoting dorm deliveries and a range of essentials, Meijer is hosting an “awkward photo” competition with a $20,000 prize for college tuition. “Make good use of that bad photo,” reads the Dr Pepper-sponsored contest's Facebook page.
The controversial clothing chain American Apparel has finally yielded to consumer habits by producing a size XL. To celebrate the move, it's launching a search for the next big thing — a plus-size model to advertise the new size.
New York-based luxury jewelry retailer Tiffany & Co. recently announced plans to open 17 new stores between now and fiscal year-end on Jan. 31, 2012. The company plans to open six stores in the Americas, three in Europe and eight in the Asia-Pacific region. Additionally, one store in Japan is slated for closure.
The Frye Co. has opened its first brick-and-mortar store in New York's SoHo neighborhood. Additionally, the company plans to roll out several more stores in North America and Europe over the next five years, including potential flagship locations in Los Angeles, Boston, Dallas, Aspen, Colo., and London.
