Sleep in on Black Friday with Payless
TOPEKA, Kan. Payless unveiled its winter collections and launched its first-ever “Sleep In” Black Friday shopping offer.
The Sleep In offer delivers additional savings on top of Payless’ already planned Holiday BOGO sale, which allows shoppers to buy one item and get the second item of equal or lesser value at half off. The Sleep In offer, exclusive only to customers who text SLEEPIN to 242424 beginning now until Nov. 25, is designed to allow shoppers to avoid the Black Friday crowds and let them sleep in and still take advantage of sales all weekend long. The Sleep In digital coupon will be delivered on Thanksgiving Day to those that text in; the special offer is valid Black Friday through Sunday, Nov. 29, at all Payless stores across the U.S. excluding Payless in ShopKo stores. Shoppers must show their digital coupon on their cell phone or texting device in order to receive the additional offer; standard texting rates may apply.
In addition to Black Friday, Payless has accessories available for an average of under $15 and as low as $4, items including opaque and patterned tights, bright hard case wallets, wristlets, jewelry, winter weather accessories and handbags. The winter collection is arriving in stores now featuring the designer trends with special holiday collections of the Christian Siriano for Payless and Lela Rose for Payless labels. Payless designer items are available at prices ranging from $27.99 to $50 an item.
The winter collection also features well-known brands such as Airwalk, American Eagle by Payless, Dexter and Champion.
Save-A-Lot looks to grow in Atlanta
Save-A-Lot plans to double its store count in the next five years, with Atlanta being one of its targets for growth, the Atlantic Business Chronicle reported.
According to the report, Save-A-Lot, which operated 1,200 stores in the U.S., is focused on growing in the Southeast, with an eye on Atlanta. The company currently operates seven stores in the metro area, but the article indicates that the company feels it is not fully serving the market, and the city could support 30 stores.
Lowe’s continues to feel market pressure
Mooresville, N.C.-based Lowe’s posted third-quarter earnings of $344 million, down 29.5% from the same period a year ago.
Net sales for the quarter declined 3% to $11.4 billion. Comparable-store sales were negative 7.5% for the third quarter, in which the company opened 12 stores and closed one.
“The broad-based pressures of the macro environment are clearly evident in our sales as consumers continue to delay large purchases until they feel better about the economic outlook,” commented Robert Niblock, Lowe’s chairman and CEO. “While consumer spending remained weak, we were pleased with our sequential improvement in comparable-store sales from the second quarter and continued evidence of solid market share gains.”
In the second quarter, comps were 9.5%, a full two percentage points worse than the third quarter.
Some of the hardest hit housing markets — which Niblock identified as California, Florida and the desert Southwest — showed signs of improvement.
“As the economy and the housing market continue through the bottoming and recovery process, we know there will be ongoing macroeconomic challenges, including declining home values and rising unemployment,” Niblock added. “However, we are encouraged by the signs of stabilization in our business.”
Lowe’s reported earnings of 23 cents per share, while analysts had expected earnings of about 24 cents a share and revenue of about $11.28 billion.
In the fourth quarter, the company expects total sales to be flat, and comparable-store sales to fall in the negative 2% to negative 6% range.
The company’s report will be followed tomorrow by chief rival Home Depot’s third-quarter earnings announcement.