Warby Parker, Dallas
Warby Parker, the hip online eyewear retailer, has opened its sixth retail location, a 1,050-sq.-ft. store in Dallas.
The store has a 1950s classroom look, with books, globes, school supplies, apples and a wall of framed eyewear frames illustrated on chalkboards. A sculpture of a giant pencil sticks out of the roof, and an old-fashioned yellow school bus is parked outside. (The same bus visited several U.S. cities last year on the Warby Parker’s “Class Trip” promotion.) The bus, which has been fitted with leather sofas and oak shelves and houses Warby Parker’s nonprescription sunglass selection, will be parked permanently outside the store.
“Shoppers’ expectations are so much higher now because they have so many choices, partly because of e-commerce,” said Warby Parker co-founder Neil Blumenthal, a report on Dallasnews.com. “So to stand out, the best retailers will create the best experiences because shopping is also a form of entertainment.”
Shop Your Way expands rewards program
Sears Holdings’ Shop Your Way membership program and social shopping community has expanded its rewards program with the addition of more than 50 brand-name partners, which means members will be able to earn rewards through more places than ever.
"Members are already shopping for many of these products and services and now they can be rewarded for it," said Eric Jaffe, SVP of Shop Your Way. "Our goal is to make it easy to earn rewards wherever you shop, and our growing partner network shows we are poised to deliver."
Shop Your Way partners include Burger King restaurants, Groupon, Avis Car Rental, Hearst Magazines, Budget, 1-800-FLOWERS, Red Envelope, LifeLock, ScoreBig and Shoney’s. Examples of everyday discounts and rewards include $25-$50 in points back on services; up to 10% back in points on events and entertainment tickets; and 2% or more in points at thousands of restaurants.
Partners also frequently present limited-time member promotions, above their regular offers. For example, Burger King restaurants just launched a limited-time "Burger Back" promotion that gives members up to $10 ($12 for VIPs) in Shop Your Way points on one purchase using their eligible Visa or MasterCard through July 31 (may only be redeemed once per member).
"It’s like getting one entire Burger King meal back in free points," Jaffe added.
Burger King restaurants are among the partners contributing to Shop Your Way’s expanded rewards offering via the Card Link program; members register their eligible Visa or MasterCard debit or credit cards one time, then automatically earn points every time they make a qualifying purchase with a participating partner. Rewards earned from either program can then be redeemed on millions of products at ShopYourWay.com.
Members will also be able to purchase any Groupon deal featured on ShopYourWay.com/Groupon — including all of the same localized offers they’re accustomed to seeing — and they’ll automatically receive 5% back in Shop Your Way points. Hearst Magazines is offering specially priced one-year subscriptions to magazines such as Good Housekeeping, Woman’s Day, Cosmopolitan, Esquire and Car & Driver at ShopYourWay.com/Mags, and members earn 4,999 points ($4.99) for each subscription purchased.
Family Dollar Q3 profit falls 33%
Matthews, N.C. — Family Dollar Stores’ third quarter income plunged 33% amid higher costs and increased competition. Same-store sales fell 1.8%, which marked the third straight quarterly decline.
Family Dollar is under pressure from activist investor Carl Icahn to put itself up for sale. The company has adopted a shareholder rights plan, or "poison pill."
“Our results continue to reflect the economic challenges facing our core customer and an intense competitive environment,” said chairman and CEO Howard Levine. “Although our sales results remain below our expectations, we are encouraged by the improving trends.”
Net income in the quarter ended May 31 fell to $81.1 million, from $120.9 million a year earlier. Net sales rose 3.3% to $2.66 billion, from $2.57 billion a year earlier.
In response to slumping sales, Family Dollar has reduced prices on almost 1,000 basic items. It also is closing underperforming stores.
“We are executing our previously announced restructuring initiatives to improve our performance,” said Levine. “Our recent investment to permanently lower prices is resonating with customers; we are seeing savings from our workforce optimization efforts; and we are on track to close approximately 370 underperforming stores by the end of the fiscal year. We remain confident that these steps will position the company to improve our financial performance and deliver higher long-term shareholder returns.”