News

Winter Storm Jonas hurts revenue at Big Lots

BY Gina Acosta

Big Lots says harsh winter weather hurt traffic counts and revenue, but the closeout retailer still posted increases in same-store sales for the fourth quarter.

Big Lots reported income from continuing operations of $94.7 million, or $1.91 per diluted share, for the fourth quarter ended Jan. 30. Revenue dropped to $1.58 billion from $1.59 billion for the same quarter last year. Same-store sales increased 0.7%.It was the eighth consecutive quarter in which Big Lots has posted positive same-store sales.

"I'm pleased with our results and another strong year for the company. Fourth quarter earnings were at the high end of our guidance range and comps increased for an eighth consecutive quarter, despite the disruption from winter storm Jonas and a later start to the tax refund season for our customers," saidDavid Campisi, CEO and president. "Throughout 2015, we remained focused on our strategy and the consistency of our performance and Jennifer has responded positively."

Looking ahead to the first quarter of fiscal 2016, Big Lots estimates adjusted income from continuing operations in the range of 66 to 72 cents, a 10% to 20% increase compared to last year's income from continuing operations of 60 cents per diluted share.

Big Lots is also in the process of preparing to launch an e-commerce website.

The retailer operates 1,449 BIG Lots stores in 47 states.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Target investing billions in technology

BY CSA STAFF

The discounter plans to invest some $1.8 billion in 2016 on capital projects, with the majority going to e-commerce and supply chain improvements, as well as in-store improvements. And starting in 2017, Target will ramp up its tech spending even more, Fortune reported. [Fortune]

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Demandware: Mobile phones drive Q4 digital commerce

BY CSA STAFF

In fourth quarter 2015, mobile phones served as the primary engine of online retailing.

According to the fourth quarter “Demandware Shopping Index,” mobile phones were responsible for all growth in digital visit (112%) and basket (104%) size. Rates exceeding 100% indicate that digital visits and baskets actually shrank among users of tablets and PCs.

Mobile phones also accounted for a solid 68% of majority of digital order growth, with tablets and PCs accounting for the other 32%.

However, consumer preference for using different types of devices for digital shopping did fluctuate depending on time of the week. For example, consumers preferred using computers for online shopping on weekdays, with PC use peaking between 10 a.m. and noon weekdays. Mobile phones were more popular on weekends, peaking in use at 8 p.m. Tablet use for online shopping significantly trailed PC and mobile phone use at all times.

Digital consumers reduced the time they spent during an average shopping visit compared to the fourth quarter of the prior year. Average time per digital visit dropped 11% to 8.7 minutes. The decrease was even more pronounced among mobile phone users, whose average visit dropped 19% to 7.5 minutes.

Looking at mobile phone platforms, the study shows that while Android may be the more popular platform overall, digital shoppers prefer iOS. In the fourth quarter, iPhone represented 61% of digital shopping traffic and 62% of orders. Android only captured 38% and 39%, respectively.

Other notable figures include:

· Free shipping grew 72% compared to the prior year period.
· Average digital order discount was 16%.
· Average digital order value was $122.

The index is based on an analysis of the shopping activity of more than 400 million shoppers worldwide by digital commerce platform provider Demandware.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...