ARTICLES BY SAM LEWIS
Sears Files To Spin Off Land’s End12/6/2013
Struggling retailer will distribute stock to shareholders for clothing division’s value. Back in October, Sears announced plans to spin off its Land’s End brand in an effort to bolster its cash and even its balance sheet. The two-month-old plan has now become a reality as Sears’ CEO Edward Lampert announced on Friday, Dec 6 the struggling retailer has filed to distribute its shares of Land’s End to investors.
Amazon Hopes Drones Will Provide 30 Minute Delivery12/4/2013
Online retailer’s Prime Air is aimed to launch as early as 2015. During the Sunday, Dec 1 edition of 60 Minutes, online retail giant Amazon’s CEO, Jeff Bezos, revealed the company’s dream of same day delivery through an innovative new system. Bezos says Amazon will be able to use drone aircraft in a system called Prime Air to deliver customers five-pound packages in less than half an hour. Ideally, Bezos would like to see this plan take off in four to five years, but in all likelihood, it will take longer.
Thanksgiving And Black Friday Generate Over $12 Billion In Retail Sales12/2/2013
Mobility and e-commerce drive 2013 holiday shopping season’s beginning. In an effort to create extra time for Black Friday shopping, retailers across the nation opened their doors for holiday shoppers on Thanksgiving night. The idea drew in the crowds, but unfortunately, it didn’t motivate shoppers to open their pocketbooks.
Online Holiday Sales Off To A Blistering Start11/27/2013
E-commerce sales rise 14 percent in early stages of holiday shopping season. Early predictions for the 2013 holiday shopping season by retail analysts ranged anywhere from stagnant to cautious. But so far, it seems that shoppers are busy filling Santa’s bag of goodies for the Tiny Tims and Cindy Lou Whos across the globe.
Men’s Wearhouse Likes The Way Jos. A. Bank Looks11/26/2013
Less than two week after Jos. A. Bank dropped its bid on Men’s Wearhouse, Men’s Wearhouse makes an offer to acquire its competitor. The story begins in early October. Specialty men’s retailer, Jos. A. Bank, put its sights on acquiring it main competition, troubled men’s specialty retailer, Men’s Wearhouse. Jos. A. Bank made an offer of $2.3 billion to acquire Men’s Wearhouse, which was rejected. Jos. A. Bank said it would consider raising its asking price if it were given limited access to private financial records. Men’s Wearhouse again refuted the notion, and no further action was seen. Jos. A. Bank stuck by its word of abandoning its pursuit of Men’s Wearhouse if a deal was not struck by Nov 14, but would be open to future negotiations. Jos. A. Bank’s Chairman, Robert Wildrick, even went as far using an unusual tactic, saying his company would be receptive to being purchased by Men’s Wearhouse instead of the reverse.
Walmart Chooses Company Insider As New CEO11/26/2013
Long-time employee of world’s largest retailer takes the helm amid bribery scandal. In the wake of a bribery scandal — where Walmart paid bribes in Mexico to speed building permits and gain other favors — the company’s Mike Duke, has stepped down from his leadership position. The retailer’s board of directors wasted no time naming a new leader, choosing an internal candidate, Doug McMillon, who served as Sam’s Club’s president and CEO since 2006.
Target Receives Chilly Reception In Canada11/22/2013
Retail giant’s Q3 earnings hurt by reluctant Canadian shoppers
Minneapolis-based Target released its 2013 third-quarter earnings report on Thursday, Nov 21. The retailer found that its recent expansion to Canada has not been embraced by shoppers north of the border, partially leading to declines in profit.
Williams-Sonoma Praises Supply Chain And IT Enhancement For Q3 Success11/21/2013
Increased revenue, profits, and same store sales lets home-goods company raise annual guidance
Parent company of stores like Pottery Barn, Pottery Barn Kids, West Elm, along with its namesake stores, Williams-Sonoma released its 2013 third-quarter earnings report on Wednesday, Nov 20. The retailer is reporting increased profits for the quarter, thanking strength in PBteen and West Elm brands, along with enhancements in the supply chain and information technology, for its success through Q3.
Verizon Wireless Opens Lifestyle Concept Store11/20/2013
Destination store at Minnesota’s Mall of America hopes to bring telecommunication company’s LTE to life. Following the lead of many technology companies before it, Verizon Wireless has decided to open up a destination store to proudly showcase its array of telecommunications products. Located in Minneapolis’ Mall of America, the nearly 10,000-square foot destination store opened Wednesday, Nov 20, putting the spotlight on Verizon Wireless’ 4G LTE network.
TJX Outperforms Its Own Expectations11/19/2013
Off-price seller boasts earnings for more than two straight in years in slowly recovering economy. The parent company of brands like HomeGoods, Marshalls, and TJ Maxx has beaten its earnings projection for 2013’s third-quarter. Back in October, the company said it would raise its earnings guidance to 84 or 85 cents per share up from the previously predicted 69 to 72 cents per share. When Q3 was said and done, TJX came through with 86 cents per share.