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June Chain Store Sales Meet Low End of Forecast
U.S. chain store sales increased 3% on a year-over-year basis in June 2010, according to the International Council of Shopping Centers (ICSC) and Goldman-Sachs. This met the low end of the previously issued 3-4% forecast.Lower-priced Channels Hold Back Increase
Lower-priced retail channels such as discount (2%) and wholesale club excluding fuel (3%) held back total...
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Mother’s Day Spending Should Increase
Consumer spending for the upcoming Mother’s Day holiday (May 9, 2010) should improve slightly from 2009, according to two recent studies.NRF Predicts 2% Average Spending Lift The National Retail Federation (NRF) is predicting the average person will spend $126.90 on Mother’s Day this year, up 2.4% from $123.89 in 2009. Total spending is expected to reach $14.6 billion, a 3.5% lift...Continue Reading »
Nordstrom Rack Situates Video Screens
The construction site of a new Nordstrom Rack in New York City’s Union Square is promoting the new store with video screens in the facade of the construction. The “video wall” gives passersby a sneak preview into the store, which will open May 11. The screens will also be used at other Nordstrom Rack construction sites across the country.
Peephole boxes are cut into the...Continue Reading »
Luxury Retailers Should Focus on Store
A person's sense of time and its relation to one's sensitivity to sensual experience are critical to their appreciation of luxury, according to Dr. Bob Deutsch of marketing firm Brain Sells. Thus, the major focus of luxury marketers should be the in-store experience. Deutsch advises luxury retailers to take the following three steps to ensure a steady flow of store traffic as well as a...Continue Reading »
Weak ’09 Drives Strong March ’10 Sales Results
Poor U.S. retail industry performance in March 2009 helped drive positive year-over-year sales growth in most retail sectors, according to MasterCard Advisors’ Spending Pulse.E-commerce, Luxury Grow Sales by Double Digits E-commerce sales rose 18.4% compared to March 2009, the sector’s eighth straight month of double-digit sales increases. In February 2009, e-commerce sales grew...Continue Reading »
Williams-Sonoma Seeks Store Closures in Large Markets
Specialty retailer Williams-Sonoma intends to shutter an undisclosed number of stores in large, multi-store markets. According to the Wall Street Journal, Williams-Sonoma CFO Sharon McCollam told attendees of an investor conference the retailer’s goal is optimizing cost per square foot rather than simply reducing store footprint.During the next three years, 25% of Williams-Sonoma’s...Continue Reading »
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Nine West Expands UK, Ireland Biz
Vertical specialty apparel retailer Nine West Footwear Corporation will license and distribute its Nine West and Easy Spirit brands in the UK and Ireland via an agreement with luxury footwear retailer Kurt Geiger Ltd.Under the terms of the agreement, Kurt Geiger will offer women's footwear, handbags and small leather goods beginning with the spring 2010 product lines. Kurt Geiger will...Continue Reading »
Ross-Simons Celebrates Brinkley Partnership
Multichannel specialty jewelry retailer Ross-Simons is partnering with model Christie Brinkley to launch a new line of jewelry called CeleBrate this month. The collection features close to 100 pieces, some including Brinkley’s initials incorporated into them.The CeleBrate necklaces, rings, earrings and bracelets are designed to be matched and layered for casual or evening wear and span...Continue Reading »
Macy’s Enlists Outside Help in Localization
Upscale department store Macy’s is partnering with merchandising firm MCG (Market Connect Group) to help manage its MyMacy’s merchandise localization program.The MyMacy’s initiative, which began as a pilot at 20 store locations in spring 2008, will require top vendors to work directly with 69 Macy's districts grouped into eight regions across the U.S. Each district will average...Continue Reading »
Women’s Specialty Brand Sees Brightness Amid Gloom
Despite generally poor performance in the women’s specialty apparel and accessories sector, Ellington, a vertical specialty retailer of handbags and other women’s accessories, is investing in a business push it says will produce long-term global growth.Ellington’s publicly released growth strategy includes the relaunch of the brand with a new logo and website with expanded...Continue Reading »