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News Briefs

Staying on top of breaking news in the retail industry is a commitment Retail TouchPoints editors take seriously. Each day, we publish the latest information in this News Briefs section. Up-to-the-minute stories cover retail implementations, new product announcements, financial updates, executive appointments and overall global updates affecting every aspect of the retail industry.

FuturePay Offers Instant Financing Option To Merchants
Walmart Closes $310M Bonobos Acquisition

Walmart Closes $310M Bonobos Acquisition

June 16 // Written by Klaudia Tirico

Wegmans Launches One-Hour Delivery With Instacart

Wegmans Launches One-Hour Delivery With Instacart

June 14 // Written by Glenn Taylor

Study: Best Buy, Home Depot Rank Highest In Mobile UX

Study: Best Buy, Home Depot Rank Highest In Mobile UX

June 09 // Written by Klaudia Tirico

GoECart Rebrands As Pulse Commerce

GoECart Rebrands As Pulse Commerce

June 06 // Written by Adam Blair

Kibo Adds New Features To Personalization Platform
Payless May Close Another 400+ Stores

Payless May Close Another 400+ Stores

May 30 // Written by Glenn Taylor

Shareholder Discontent, Negative Press Force Uber Founder Out As CEO

Bowing to pressure from shareholders, Travis Kalanick has reportedly been forced out as CEO of Uber following months of turmoil at the ride-hailing company. Uber recently fired more than 20 employees after investigations into the company’s culture regarding several sexual harassment and discrimination charges; accusations of an “unrestrained” workplace environment;…
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FuturePay Offers Instant Financing Option To Merchants

FuturePay, a digital payment processing service, has joined the Salesforce Partner Program, enabling e-Commerce retailers using the Salesforce Commerce Cloud platform to offer instant financing options to their customers at checkout. The instant credit payment and financing options from FuturePay can help Commerce Cloud customers increase revenues, decrease cart abandonment…
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Periscope And Nielsen Align To Share Syndicated Data With Retailers

Periscope By McKinsey and Nielsen have built an alliance through Nielsen’s Connected Partner program. Through this collaboration, Periscope’s grocery and consumer goods clients will now have access to Nielsen’s syndicated POS data, panel data, a variety of in-store execution monitoring services, and pricing and promotional models. Periscope clients will also gain access…
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Walmart Closes $310M Bonobos Acquisition

Walmart has sealed the deal on its acquisition of men’s fashion retailer Bonobos — a move the retail industry has been expecting since April. The big box retailer’s fourth e-Commerce brand purchase is valued at $310 million in cash.
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FTC Reportedly Recommends Blocking Walgreens-Rite Aid Merger

After months of speculation, the long-awaited Walgreens-Rite Aid merger may be closer to falling through than actually being consummated. The Federal Trade Commission (FTC) staff is recommending the agency file a lawsuit to block the deal, according to a report from the Capitol Forum. The staff remains unconvinced that the proposed divestiture buyer, drugstore chain Fred’s, can fill in the competition gap opened by the Rite Aid sale. Walgreens initially was going to sell 865 Rite Aid stores to Fred’s for $950 million, but more recent agreements indicate it is willing to divest as many as 1,200 stores and slash the price of the merger to obtain regulatory approval.

Retail Topics That Kept RSR Analysts Up At Night For 10 Years

  • Published in News Briefs
Founded on June 15, 2007, Retail Systems Research (RSR) has been led by the same four industry analysts who brought diverse and expansive experience to the research firm. Retail TouchPoints has depended on the RSR team for input on important topics and trends throughout their tenure in the industry. (Coincidentally…
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Wegmans Launches One-Hour Delivery With Instacart

  • Published in News Briefs
Instacart has already brought its online grocery delivery services to major markets with grocers including Kroger, Whole Foods, Costco and Publix. By partnering with Wegmans, however, Instacart is reaching further into unfamiliar territory: the suburbs. The service, which will be available for shoppers of Wegmans stores in Northern Virginia and…
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Packagd Launches Video Product Review App, Raises $6 Million In Funding

Packagd, a mobile video platform launched in 2016, has introduced Unboxed, an app that offers curated, hosted shows of tech products, gadgets and devices. Forerunner Ventures and GV (formerly Google Ventures) led a $6 million Series A financing round for Packagd, bringing the company’s total funding to $7.5 million.

No Longer For Sale: Neiman Marcus Takes Itself Off The Shelf

  • Published in News Briefs
Three months after hanging out a “For Sale” sign, Neiman Marcus has taken itself off the market, said CEO Karen Katz during a recent earnings call. Neiman Marcus had been in talks with Canadian department store Hudson’s Bay regarding a possible acquisition that would have combined the retailers, but the…
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Hudson’s Bay Transformation Plan To Cut 2,000 Jobs

A transformation plan that will create dedicated leadership teams for Lord & Taylor in the U.S. and Hudson’s Bay in Canada also will cost 2,000 employees their jobs with the parent company, HBC. The new strategy is the result of a six-month operational review focused on identifying efficiencies in North…
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The RealReal Reels In $50 Million As Brick-And-Mortar Strategy Becomes Reality

Luxury consignment retailer The RealReal has closed a $50 million growth equity financing round from private equity firm Great Hill Partners. Since its inception, the company has acquired $173 million in funding. The RealReal will use this latest round of financing to scale operations, category expertise and expand its Luxury Consignment Offices and retail concepts. The RealReal’s CEO and Founder Julie Wainwright revealed in an interview with TechCrunch that the company is developing a brick-and-mortar strategy — starting with a New York City location that is scheduled to open in Fall or Winter 2017. This news comes following the success of The RealReal’s first pop-up store, which opened in December 2016 in SoHo. In two weeks alone, the shop raked in nearly $2 million in sales.

Longtime J.Crew CEO Mickey Drexler Steps Down

Nearly two weeks after admitting that he underestimated the role technology would play in retail in an interview with the Wall Street Journal, Millard “Mickey” Drexler is leaving his longtime role as CEO of J.Crew. Drexler’s departure from the role signals more massive change for the apparel retailer, which also saw its President, Executive Creative Director and second-in-command Jenna Lyons step down from her role in April 2017. Lyons, who had been considered the creative mastermind behind the brand’s rise in the early 2000s, will remain with J.Crew as a creative advisor until her contract expires in December 2017. Drexler will remain in his role as Chairman of the Board of Directors at J.Crew.

GoECart Rebrands As Pulse Commerce

GoECart, an enterprise order and inventory management platform designed for mid-market merchants, is rebranding itself as Pulse Commerce. The company chose the name to reflect its role in delivering a real-time enterprise-wide perspective, or pulse, on a merchant’s commerce operations across all channels. “Our modern Order & Inventory Platform has…
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German Fashion Brand S.Oliver Group Partners With Predictive Product Testing Platform

  • Published in News Briefs
The s.Oliver Group, a German fashion and lifestyle company, has partnered with predictive product design and merchandising platform provider First Insight. Using First Insight’s consumer-driven predictive analytics, the s.Oliver Group seeks to make quicker and more accurate design, buying and pricing decisions on its apparel, shoes, accessories, jewelry, fragrances and eyewear.
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