Saks narrows loss in Q2
New York City — Saks reported Tuesday that it has tightened its losses in the quarter ended July 30, posting a loss of $8.4 million compared with a loss of $32.2 million in the year earlier period.
The luxury retailer cited increased full-price selling for the improvement, but warned Wall Street that it was heading into the fall selling season with caution because of the uncertain economic conditions.
Revenue rose 13% to $670.2 million from $593.1 million, beating Wall Street’s $657.4 million. Same-store sales surged 15.5%, surpassing Saks’ expectations.
TJ Maxx profit up 14% in Q2
Framingham, Mass. — TJX Cos. reported Tuesday that net income for the second quarter rose 14% to $348 million, compared with $305 million in the year-ago period.
The parent of TJ Maxx and other discount concepts saw revenue climb 8% in the quarter, to $5.47 billion, topping analysts’ estimated $5.44 billion.
Survey: Lacking mobile presence may cause retailers to miss out on key opportunities
ARLINGTON, Va. — More than one-quarter of U.S. retailers lack a mobile presence, according to new research conducted by 2ergo.
Based on data collected from 161 retailers across six categories, 2ergo found that only 58% of retailers have not optimized a mobile website and just half of them are offering consumers one smartphone application for either Android, Blackberry or iPhone devices. Among them, 7% of these top retailers have launched applications for all three platforms, 2ergo noted.
2ergo, an international provider of mobile strategy and mobile technology solutions, said that lacking a mobile presence may cause retailers to miss out on such opportunities as acquiring new customers and boosting revenue.
“When you consider the many ways consumers are using mobile devices to improve their shopping experiences … it becomes apparent there is a gap between shoppers’ behavior and retailers’ presence on mobile,” 2ergo Americas managing director Michael Scully said. “Retailers should keep in mind that ‘mobile shopping’ is about more than just facilitating an on-device purchase. It is about catering to the context of a mobile visitor. The goal of a mobile presence should be about offering real value to customers such as on-the-go price comparisons, inventory locators, store locators, easy access to customer service, and product reviews. A mobile visitor is already overcoming a number of hurdles to connect with a brand, and these actions signal an especially valuable relationship opportunity.”
What’s more, retailers that do not properly optimize a mobile website or app (i.e., trying to fit existing databases of a traditional website into a mobile site or app, or using traditional techniques when developing their mobile presence) could face several challenges in making their presence a successful component to their overall business strategy. This indicates there is not a one-size-fits-all approach to mobile, 2ergo said. For instance, grocery, pharmacy and convenience store retailers are providing such features as personalized shopping lists, prescription refills and photo processing orders through mobile apps (49%) more often than mobile sites (38%).
“Retailers face real challenges when launching a mobile presence — integration of existing databases for accurate real-time data, speedy load times, optimization for smartphones while not ignoring feature phone users, and access to actionable analytics,” Scully said.
Click here for more information about 2ergo’s latest research.