Best Buy reported a 4% year over year revenue decline, with Q2 2015 sales falling to $8.89 million. Quarterly comparable store sales decreased 2.7%, with company executives expecting the low single-digit decline to continue into Q3 and Q4 2015.
The retailer earned a net profit of $146 million in the quarter, or $0.42 in GAAP diluted earnings per share, but the number fell 45% from the $226 million posted in Q2 2014.
Continue reading “Best Buy Experiences 4% Revenue Decline”
Online marketplaces such as eBay and others give retailers of all sizes the opportunity to introduce their brand to millions of customers worldwide.
For Cooking.com, an online destination for cookware, kitchen gadgets, recipesand more, these marketplaces have “played a valuable role in expanding our online visibility,” said Martin Smiley, who is Partnerships and Consumer Promotions Manager for the eTailer. “[They] make it possible to reach a new audience of consumers who may not have found our products elsewhere.”
Continue reading “Cooking.com Increases Marketplace Sales By 254% With ChannelAdvisor”
Square, used by millions to ease payments by attaching a dongle to a mobile device to accept credit cards, is raising additional capital in a new round of financing that pushes its valuation to $6 billion. The company hopes to secure another $200 million in funding — with part coming from the Government of Singapore Investment Corporation (GIC) — according to unidentified sources close to the company, CNBC reports. Any pending deals, however, have not been disclosed.
Square, led by Twitter co-founder Jack Dorsey, has experienced steady growth in its value. Deals completed in 2012 with Sequoia, Khosla Ventures, Kleiner Perkins Caufield & Byers and Starbucks valued the company at $3.25 billion. In early 2014, the company was valued at $5 billion in a secondary stock sale that allowed employees and investors to divest their shares. Investor demand exceeded supply in that round, according to sources cited by CNBC.
Continue reading “Square Seeks To Secure More Funding”
Price remains a top factor for consumers, and they’re scouring the web for the best deals and offers. Retailers, in turn, are waging an all-out price war with competitors, using new tools and solutions to keep a constant pulse on prices across channels.
Multichannel tool retailer Tool King recognized consumers’ heightened desire for lower prices as more store visitors asked the retailer to match Amazon prices.
Continue reading “Tool King Puts A Hammer Down On Price-Scraping Bots With Distil Networks”
The Honest Company, a provider of natural and non-toxic products for families, has closed a $70 million financing round.
Wellington Management Company LLP led the round, while Dragoneer Investment group contributed. Existing investors, including General Catalyst Partners, ICONIQ Capital, Institutional Venture Partners and Lightspeed Venture Partners, also participated.
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Videos are now a significant element of successful omnichannel strategies. If executed properly, video marketing can provide insight into the nature of the retailer’s products and services, all while engaging consumers, building credibility and driving revenue.
Investing in video commerce can be the difference between converting consumers and losing them to the competition. Brookstone leveraged the power of video by enlisting Liveclicker to help fulfill its e-Commerce needs, including SEO, conversion tracking and customer feedback.
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Retail TouchPoints (RTP) is proud to introduce the Retail TouchPoints Advisory Board! The Board includes a select group of leading retail executives, invited to join together to collaborate with each other and provide advice on future RTP editorial coverage.
RTP Advisory Board members include a wide variety of retail companies, from large national Tier 1 brands to regional stores and e-Commerce specialty merchants. They bring unique perspectives and industry expertise to the table.
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Beacon technology can help retailers better understand consumers’ path-to-purchase and, in turn, deliver more relevant offers and messages while they’re browsing in store aisles.
GameStop recently kicked off a chain-wide deployment of beacons from Gimbal, as well as the iBeacon promotion platform from Shelfbucks. The technology was implemented throughout August in 36 test stores in Austin and College Station, Tex.
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Vince Camuto, a women’s fashion and footwear brand, has signed a deal with Island Pacific to implement the company’s SmartSuite solution in all retail stores.
The Island Pacific SmartRetail merchandising application is positioned to provide the Camuto Group with an end-to-end solution across the brand’s headquarters and retail stores. The Camuto Group deployed a variety of other Island Pacific solutions, including: SmartAnalytics; SmartPlanning; SmartStore Mobile POS; SmartOmni; and SmartBus.
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EMV has been implemented around the globe, but the US is lagging behind. Fear of high costs, uncertainty about chip specifications and cardholder verification methods, and intimidating regulatory requirements have all meant that many organizations have been slow to take on the challenge of implementing EMV, even though new regulations say they must, and the National Retail Federation says it is the only secure standard. The cost of the transition to EMV is estimated to be $8 billion, and that number, while staggering, is causing some retailers to stop dead in their tracks when it comes to implementation.
The reality is this: major retailers are installing EMV-enabled point of sale equipment now, and in less than two years, 95% of all cards in the US are expected to be EMV-capable. If you are a retailer that offers branded credit or debit cards, you must take action, but you don’t have to take an all or nothing approach. The solution is a timely, four-step approach that will allow you to get an EMV card into the market without getting locked in to one production strategy or breaking the bank.
Continue reading “EMV: The Moving Target”