DSW reports strong Q3 results
Columbus, Ohio – DSW Inc. experienced a successful third quarter of fiscal 2013, with net income and total sales both rising from the same period in the previous year. Net income equaled $55 million, up roughly 10% from $50.1 million, while total sales of $633 million were about 7% higher than $593 million.
In one negative result, same-store sales fell 0.7%. However, the retailer opened 16 new stores and launched new omni-channel initiatives.
Mike MacDonald, president and CEO of DSW, credited promotional efforts for helping to drive the company’s overall profitable quarter.
"A solid increase in total sales combined with disciplined execution and inventory management allowed us to increase our adjusted earnings per share by 14%,” said MacDonald. “We achieved our highest level of profitability in the third quarter while navigating through a promotional environment. We were encouraged by the improvement in traffic and sales at the end of the quarter, as the fall selling season got off to a delayed start."
Report: J.C. Penney CEO buys $1 million of company stock
Plano, Texas – Myron Ullman, CEO of embattled department store chain J.C. Penney, has reportedly bought $1 million of company stock. According to the Associated Press, Ullman purchased 112,000 shares at $8.95 apiece on or around Nov. 22.
The timing puts the purchase just before Dow Jones Indices announced Penney was being dropped from the S&P 500 index effective Nov. 29. Penney reported a net loss of $489 million for the recently completed third quarter of fiscal 2013, although it also reported its first same-store sales increase since December 2011 in October of this year.
Black Friday tweets mostly positive or neutral
Los Angeles – A majority of the 348,235 tweets about Black Friday posted between Friday, Nov. 22 and Sunday, Nov. 24 were either positive or neutral in sentiment. According to analysis from social media research firm Fizziology, tweets about Black Sunday the weekend of Nov. 22-24 were 47% positive, 11% negative, 3% mixed and 39% neutral (from retailers/promotions).
More than half (52%) of the organic conversation (meaning non-promotional or news-related conversation) came from people who said they will participate in Black Friday shopping. Of those who tweeted they are going shopping on Black Friday, 21% are going for the sale, 15% for the social aspect, 11% for a specific product, 9 % for the fun of shopping and 6% for the madness.
Other findings include:
- 26% of people who said they’re going mentioned a shopping partner (66% will go with friends, 17% will go with a parent and 17% were still looking for someone to shop with).
- 9% of people who said they’re going have been saving money specifically for the special day.
- Most popular products mentioned were video games, clothing, shoes and electronics (specifically cameras).
- 9% of organic mentions came from people saying they won’t participate.
- 9% of organic mentions came from people calling the holiday immoral, mostly because they think it embodies greed a day after the holiday for giving thanks.
- 7% of organic conversation came from people who think it’s too crazy/crowded.
- 4% of organic mentions complained about sales starting on Thanksgiving this year.