Inside | Real news, curated by real humans
Inside Retail

Inside Retail (Aug 14th, 2017)

Dillard’s Inc. (DDS) reported a second quarter loss of $17.1 million, or 58 cents per share, which was much more severe than the 18 cents per share that analysts expected. "Significant markdowns led to a disappointing loss as we dealt with inventory, which was up 2% at quarter end," CEO William Dillard said in a statement. Dillard’s shares are down 7.5 percent year to date. Same-store sales were down 1 percent from the year prior. Second quarter revenue was $1.46 billion, down from $1.49 billion the year prior but above the Street view of $1.44 billion. – MARKETWATCH

  • Email gray
  • Permalink gray

Toys ‘R’ Us said it plans to return to Times Square after vacating its location about two years ago. The toy retailer said it will open in a temporary 35,000 square-foot location on Broadway. "The Times Square holiday shop reunites our brand with an iconic New York destination which we are thrilled about," CEO Dave Brandon said in a statement. Toys ‘R’ Us is making the move in preparation for the busy holiday season. The three-level store will have a play area. The company plans to offer layaway plans for high-demand merchandise. – RETAIL DIVE

  • Email gray
  • Permalink gray

J.C. Penney Co. Inc. (JCP) reported a greater-than-expected net loss for the second quarter as it liquidated about 127 locations. CEO Marvin Ellison said the company is also challenged by the broader negative trends in the industry, including slower foot traffic as consumers turn to online shopping. J.C. Penney’s net loss was $62 million, or 20 cents per share, compared to $56 million, or 18 cents per share, the year prior. Same-stores sales were down 1.3 percent from the same quarter in 2016. The department store’s stock plunged more than 16 percent in Friday’s session, tapping a new 52-week low of $3.77. – BUSINESS INSIDER

  • Email gray
  • Permalink gray

Payless CEO W. Paul Jones is stepping down from his position as the company emerges from bankruptcy. The company filed for Chapter 11 in April and has been closing roughly 800 locations in its restructuring. So far, the discount shoe retailer has resolved about $435 million in debt and is the first of a rash of retailers that filed for bankruptcy the past year that has emerged after legal restructuring. Jones plans to retire and Payless has a new executive committee searching for his successor, the company said. – USA TODAY

  • Email gray
  • Permalink gray

Pinterest is helping brands engage with customers, according to data from a Neustar study. Pinterest users who engaged with a brand’s content had a 40 percent larger checkout price than others, the data showed. Pinterest ads reportedly delivered a 28-to-1 return on advertising spend. Pinterest has about 175 million users, about on par with Snapchat. Now, the social media company is starting to include autoplay video ads, which could attract more ad revenue. Major brands like Visa, Universal Pictures and Cheetos have reported signifanct returns on their investments in marketing on Pinterest. – RETAIL DIVE

  • Email gray
  • Permalink gray

Subscribe to Inside Retail