Report: Shoppers to spend less on back-to-school shopping
New York City Consumers plan to spend just over $531 for back-to-school clothes and supplies this year, according to a survey conducted by Brand Keys, a New York-based brand and customer loyalty research consultancy.
“Despite retailers’ deep discounting and promotional activity, and whispers that the recession is over, consumers are showing steadfast frugality, which is sure to shrink back-to-school share-of-wallet by 10% this year,” said Robert Passikoff, president of Brand Keys.
In response, shoppers are evaluating which retailers are going to offer the best prices for back-to-school necessities, the report found.
Consumers plan to spend about $275 on clothing, the same average amount spent last year. However, the firm expects computer/software/printer purchases to drop about 11%. School supplies purchases are also expected to fall, with the average consumer spending $95, down 5% from the year.
Amazon.com 2Q profit down
SEATTLE Amazon.com announced that its net income for the second quarter decreased 10% to $142 million in the second quarter, or 32 cents per diluted share, compared with net income of $158 million, or 37 cents per diluted share, in second quarter 2008.
Net sales increased 14% to $4.65 billion in the second quarter, compared with $4.06 billion in second quarter 2008.
Amazon.com, which has grown to be much more than an online book seller, saw sales in worldwide electronics and general merchandise grow 35% in the second quarter. Worldwide Media sales grew 1% to $2.44 billion.
For the third quarter, Amazon.com said it expects net sales to be between $4.75 billion and $5.25 billion, or to grow between 11% and 23% compared with third quarter 2008.
Operating income is expected to be between $120 million and $210 million, or between 22% decline and 36% growth compared with third quarter 2008.
‘New Moon’ rises at Nordstrom
Nordstrom is getting in on the “Twilight” craze by launching a new collection inspired by the upcoming film, New Moon.
InStyle reported that the Nordstrom line, available in stores Oct. 15, will include jackets, tees, jewelry and other items featuring themes from the popular vampire series. More girly than goth, the collection even gives fans the opportunity to express their support for the vampire Edward or the werewolf Jacob.
Other merchandise related to New Moon likely will hit stores soon, as the film promises to be one of the bigger blockbusters of the year.