NRF Survey: Plenty of BTS shopping to do
Washington, D.C. — According to the National Retail Federation and BIGinsight’s 2012 Back-to-School survey, families with school and college-aged students as of Aug. 7 say they have more than half of their shopping lists to complete.
The average person with children in grades K-12 has completed 40.1% of their shopping, while college shoppers and their families have completed slightly more at 45.3%.
Overall, school and college shoppers this year are expected to spend a total of $83.8 billion.
“It’s evident that there are plenty ‘last minute shoppers’ this year and for retailers these next two weeks are of utmost importance when it comes to attracting families who still have apparel, electronics and school supplies to stock up on,” said NRF president and CEO Matthew Shay. “Given how much of an impact the economy is having on consumers’ buying decisions, retailers will remain competitive up through the final sale after Labor Day, rolling out web, in-store and even mobile promotions to entice children and their parents.”
The survey found that more college students and their families have already finished their shopping (16.4%), than school shoppers (7.8%). Additionally, there are fewer school and college shoppers who say they have not started their shopping yet (28.5% versus 31.1% of college shoppers last year, and 26.9% versus 28.3% of K-12 shoppers last year.)
Children’s Place delivers sales growth, but income slips
Secaucus, N.J. — The Children’s Place Retail Stores reported Thursday a loss of $15.1 million, widened from a loss of $9.8 million in the same quarter last year.
Second quarter net sales increased 5% to $360.8 million, compared with $343.5 million in second quarter 2011. Same-store sales grew 3.4%.
Stein Mart Q2 net income meets Street’s view
Jacksonville, Fla. — Stein Mart reported Thursday that profit slipped to $730,000 from $1.3 million last year, but second-quarter results managed to meet Wall Street’s view, as revenue climbed.
Sales for the period grew 2% to $276.4 million, beating the $275.9 million that analysts expected. Same-store sales rose 1.6%.