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Sears, the U.S.’s biggest department store company, saw Q2 profit plummet 62 percent. Same store sales in the U.S. dropped 6.2 percent, including a 5.6 percent drop at Kmart and a 6.7 percent drop at Sears locations. Net income slipped from $173 million last year to $65 million.
The company says earnings in the second half of the year may rise - a prediction which Bill Dreher, director and senior retail analyst at Deutsche Bank Securities Inc. calls “completely unbelievable,” writes Bloomberg.
Same store sales have declined every quarter since chair Edward Lampert combined the Sears and Kmart chains in 2005.
Department stores across the board have struggled as consumers cut back on non-essentials. Nordstrom Inc., Kohl’s and J.C. Penney have all reported profit declines for the first half of the year.
Though off-air online and experiential advertising grew modestly as a part of the overall radio revenue pie, and election-related political ads increased in Q3, total radio ad revenues were down 9% to $4.97 billion for Q3 and down 10% for…
Only 28% of the audience of an average news program, website or magazine gets valuable information about products and services advertised there, making news venues less effective at conveying ad messages than all forms of media combined (see chart), according…
Target is one of the first brands to create an iPhone application. The Target “gift globe” allows iPhone users to shake their phones to launch a snow-fall effect.
When the snow clears, a gift idea from Target is revealed. Users…
Publicis has acquired full-service agency W&K Communications, continuing its Asia expansion that began several years ago.
W&K will be pulled under the umbrella of Publicis’s Burnett agency network, and will be renamed Leo Burnett Beijing Advertising, writes Adweek.
Other recent Publicis…
Conde Nast is removing Flip.com as an applicationon Facebook come Dec. 16. The website will also be shut down.
Flip launched in 2007 as an online scrapbooking site, reaching 300,000 users. But it failed to sustain the growth Conde Nast…
Effective immediately, any telemarketing call that delivers a prerecorded message must include a quick and easy way to opt-out of receiving future calls. The opt-out must work both for consumers who answer these calls in person and for those whose…
