Gap's Old Navy brand led a better-than-expected same-store sales rise of 1% for the retailer in the most recent quarter. Old Navy continues to drive Gap's results, reporting sales rises in seven of the last 10 quarters.
Retail foot traffic fell by 5.5% in July, but the number is the smallest decrease since January of last year, RetailNext reported. Conversions increased by 0.5% in July, according to RetailNext, and retailers including Walmart, Target, TJX Cos. and Kohl's reported positive news about second-quarter store traffic.
Post-Brexit exchange rates increased sales of watches at Harrods' Fine Watch Room in 2016, but this year the retailer has seen a decrease in the volume of watch shoppers, said Helen David, chief merchant at Harrods. However, there has been a notable rise in high-values sales.
IKEA will open three new stores in China this fiscal year, Angela Zhu of IKEA Retail China announced Thursday. The Swedish retailer, which debuted in China in 1998 and has grown to 24 stores, plans to grow its distribution networks and increase its e-commerce presence.
Store owners can take several steps to make their stores more environmentally friendly -- and perhaps reduce energy costs in the process. Consider installing energy-efficient lights, shifting to email receipts and minimizing the use of disposable packaging, writes Rieva Lesonsky, CEO of GrowBiz Media.
Target is adding clothes designed for children with disabilities as part of its Cat & Jack line. The sensory-friendly items include tagless shirts and leggings with flat seams, with additional items to debut in the fall, a Target spokeswoman said.
H&M is working on an effort to boost the fast-fashion retailer's e-commerce presence, CEO Karl-Johan Persson said earlier this year, but H&M, Zara and other fast-fashion players have moved slowly into online retail as it has continued to grow. Last year, online sales of apparel and footwear accounted for 15.5% of overall sales in the US, 18.7% in the UK and 25.9% in China.
Overstock is reportedly negotiating with XPO Logistics for warehousing, distribution and transportation, a deal that would cut delivery times to two days for 87% of the online retailer's US customers, sources said. Deliveries of online furniture orders can take weeks, and the deal would give Overstock an edge over competitors such as Wayfair.
Retail sales were up 0.6% in July with sales at non-store retailers increasing 1.3% for the month and 11.5% from last year, according to a report from the Commerce Department. Some traditional retailers, though, recently reported sharp sales decreases.
Walmart Canada's plan to decrease prices to attract consumers resulted in a 1.4% rise in second-quarter customer traffic. "We further improved our price position against competitors, which contributed to market share gains in key traffic driving categories such as food and consumables," CFO Brett Biggs said.
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