FINANCE

Report: TJ Maxx, Saks Off Fifth eye online sales

BY Dan Berthiaume

Framingham, Mass. – Discount retailers TJ Maxx and Saks Off Fifth outlets are reportedly planning to enter the online sales arena this year. According to Reuters, TJ Maxx parent company TJX Cos. will be making its second attempt at launching a TJ Maxx e-commerce site after a failed attempt in 2005 that cost the company $15 million.

TJ Maxx has apparently been working on its e-commerce launch for a while. The chain hired e-commerce executive Elaine Boltz in 2011 and purchased pure-play e-commerce retailer Sierra Trading for $200 million in 2012.

Meanwhile, Saks Off Fifth is currently undergoing a three-year, $95 million systems renovation to support e-commerce operations and is spending an additional $6 million to commence online commerce this year instead of next year. Reuters quotes Saks CEO Steve Sadove as saying Saks Off Fifth will have a limited online assortment mostly comprised of top selling merchandise.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Report: IT spend migrates beyond CIO

BY Dan Berthiaume

Franklin, Tenn. – More than $11.6 billion of retail IT spending, or 35% of the total, will come from budgets other than that of the CIO. Of that total “black ops” IT spend, $6.6 billion will come from the activities of the CMO and their purchases of hardware, software, SaaS, and services outside of the CIO budget.

As indicated in the new IHL Group study “Black Ops IT,” the CMO represents an increase in IT spending of 15% in the last two years and is driving a huge part of the overall IT spending Increase. IHL analysis shows that a $1 billion specialty soft goods retailer will have an average black ops IT spend totaling $17.6 million that comes from budgets outside of the CIO’s, including CMO, store ops, HR, and purchasing.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Walgreens increase July same-store sales 8%

BY Dan Berthiaume

Deerfield, Ill. – Walgreens same-store sales increased by 6.3% in July, the retailer reported this morning. Calendar day shifts positively impacted total same-store sales by 1.4 percentage points, while generic drug introductions in the last 12 months negatively impacted total same-store sales by 1.8 percentage points.

Total front-end sales increased 3.6% compared with the same month in fiscal 2012, while same-store front-end sales increased 2.3%. Customer traffic in stores open at least one year decreased 1.2% while basket size increased 3.5%.

Meanwhile, prescriptions filled at stores open a year or more increased by 9.5% in July and increased 7.3% on a calendar day-shift adjusted basis. This year’s July had one additional Wednesday and one fewer Sunday compared with July 2012, positively impacting same-store prescriptions filled by 2.2 percentage points.

Total July sales for Walgreens were $6.03 billion, an increase of 8% from $5.59 billion for the same month in fiscal 2012.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...