Target Corp. reported a 26% drop in its first-quarter profit as unseasonably cool weather, the payroll tax increase and other economic pressures took a toll on sales.
Saks Incorporated reported a roughly 5% increase in total sales between first quarter 2012 and first quarter 2013, although net income dropped during that same time period.
Best Buy reported a net loss of almost 10% for first quarter fiscal 2014, seeing its revenue drop from roughly $10.34 billion the prior year to $9.38 billion.
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Web Exclusives/Guest Commentaries
Exclusive Video: A Behind-the-Scenes Look at Von Maur
Chain Store Age Talks Strategy With Von Maur’s Jim von Maur
Jim von Maur, president of Von Maur department stores, based in Davenport, Iowa, sat down with Chain Store Age senior editor Katherine Boccaccio for an exclusive video interview in which he discussed the company’s growth strategy, technology investments, and the burgeoning e-commerce business.
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Editor's Viewpoint
Retailers Must ‘Think Visual’
By Dan Berthiaume, senior editor, Chain Store Age
Among the many albums released by legendary rock band The Kinks, “Think Visual” stands as a forgettable collection of generic hard rock songs released in the mid-1980s, when the British Invasion pioneers were long past their creative prime and worn down from years of infighting. See full story.
Hot Concepts
Marks & Spencer Combines Clicks & Bricks in Amsterdam
British retailer Marks & Spencer takes a giant leap forward in its goal to becoming a multichannel leader with the opening of its new concept store in Amsterdam. Read More
Store of the Week
Yummy Market, in the Toronto suburb of Vaughn, offers a European-styled shopping experience. More ...
Slideshow: Retail Store of the Year Winners
Chain Store Age presents an in-depth look at the winners of its 2012 Retail Store of the Year design competition, with individual slideshows of 34 stores from around the world.
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