FINANCE

Stage Stores widens net loss in Q1

BY Dan Berthiaume

Houston – Stage Stores Inc. reported a net loss of $18.79 million in the first quarter of fiscal 2014, up from a net loss from $6.86 million in the same period a year earlier. Net sales slightly declined to $372.04 million from $372.1 million, while same-store sales decreased 0.2%.

One-time charges associated with moving the company’s South Hill, Virginia, operations into its Houston headquarters totaled approximately $9.7 million and contributed to Stage’s net loss. President and CEO Michael Glazer also cited factors including weather and low prices as affecting the retailer’s results.

“Comparable store sales were flat in a volatile first quarter, marked by a highly promotional retail environment and unseasonable weather,” said Glazer. Our results were also impacted by our sales mix for the quarter, which was heavily weighted with clearance goods. While this hurt our gross margin, we feel very good about our inventory content heading into the rest of the year.”

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LightSpeed releases new POS solution

BY Dan Berthiaume

Montreal – LightSpeed, has unveiled its new LightSpeed Cloud for iPad POS solution. The patent-pending app lets retailers use product photos, logos and other imagery to design a custom, fully branded POS and interactive selling tool that offers personalized product look-ups and recommendations.

“One of brick-and-mortar retailers’ biggest assets is the ability to immerse the customer in your brand from the moment they walk in the door,” said Dax Dasilva, founder and CEO of LightSpeed. “Technologies you bring into your store should add to that, not interrupt it. With this release, we are bringing retailers’ own identity to the forefront. For the first time, they can control the entire experience, to the transaction and beyond.”

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PayAnywhere releases touch-screen POS tablet

BY Dan Berthiaume

Troy, Mich. – PayAnywhere, the professional grade mobile point-of-sale solution from North American Bancard, has released PayAnywhere Storefront, its free touch-screen tablet and stand with built-in credit card reader. PayAnywhere Storefront provides new simple pricing, security protection and advanced business analytics.

The solution includes data encryption, tokenization and fraud protection, providing both merchants and cardholders with the highest level of security in the industry. Also, in-app and online reporting provide small and medium-sized business owners with analysis tools previously only available to large companies with big data budgets. Users can easily monitor their daily sales, create inventories and generate customized reports of all sales activity in real time. This enables users to track sales immediately or during the long term and evaluate sales based on time of day, week or month to assess inventory orders and product promotions.

“This enables independent businesses to better analyze activity and adapt their overall business and marketing strategies accordingly,” said Marc Gardner, founder and CEO of North American Bancard. “In today’s retail market, small business owners deal with competition from large corporations and online retailers, and therefore need simple payment solutions that also provide them with advanced intelligence and security to ensure they’re maximizing efficiency.”

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