Retail Roundup—Ross' revenue up 8%; Amazon opens 10th bookstore

Amazon sign on storefront
Amazon opens its 9th and 10th bookstores this week.

Ross Stores posts 8% revenue growth

Ross Stores posted a 4% gain in comparable store sales in the second quarter and 8% growth in total revenue. As other brick-and-mortar retailers have struggled in the first half of the year, Ross reported a 15% jump in earnings per share and has been posting double-digit earnings growth for years on end. (USA Today)

50% of millennials prefer brick-and-mortar

While the 87 million millennials often get blamed for the massive closure of physical stores around the U.S. and the rise in e-commerce, a recent survey by SmarterHQ shows that 50% of this demographic not only goes to physical stores, but they prefer going to stores as a primary means of shopping. According to the results, millennials are showrooming, using these physical stores as research but not necessarily purchasing items there. (AdWeek)

Parents waiting to BTS shop

Even though more parents started back-to-school shopping earlier this year, many still have a lot of purchasing left to do. According to the National Retail Federation's annual survey, families with children up to grade 12 had only completed 45% of their shopping by early August, down from 52% at the peak in 2013 and 48% in 2016. Results for college students were similar, as 45% of parents had completed their shopping, down from 48% last year. (NRF)

Amazon's 10th bookstore opens

Amazon is opening its ninth and 10th bookstores this week in Bellevue, Washington, and San Jose, California. The first physical bookstore was launched more than two years ago as a test, and Amazon says it has no plans of slowing down the expansion into more locations. (The Seattle Times)

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