Latest Retail News

Walmart To Invest $200 Million In Florida Operations

Published in News Briefs
Thursday, 12 April 2018 13:48

Walmart expects to spend approximately $200 million during the coming year in Florida, opening and remodeling 43 stores in the state while expanding several in-store and online services. The openings and upgrades are part of the approximately $11 billion the retailer will invest in its stores during fiscal 2019. Additionally,…

Sears Puts 16 Stores Up For Sale — Online

Published in News Briefs
Thursday, 12 April 2018 11:12

Sears Holdings is taking a new step to cash in on its real estate. The struggling retailer is auctioning 16 profitable Sears stores on an online auction platform. Cushman & Wakefield, a real estate services firm, is partnering with Real Insight Marketplace to sell the stores. Approximately 200 investor groups…

Fred Segal Opens Sunset Strip-Themed Pop-Up

Published in News Briefs
Wednesday, 11 April 2018 17:59

Clothing and accessories retailer Fred Segal opened “Rock ‘n Roll Holy Land,” a Sunset Strip-themed retail experience, at its store in West Hollywood, Calif. in partnership with Mastercard. The exhibit and pop-up store will offer a glimpse into the history of Sunset Strip and feature merchandise from MadeWorn, an apparel…

Crate And Barrel Selects New Provider Of Credit Cards

Published in News Briefs
Wednesday, 11 April 2018 14:32

Crate and Barrel has selected Synchrony, a leading private label credit card financing company, as its strategic provider of consumer financing. Crate and Barrel and Synchrony will partner on a private label credit card, for use in nearly 100 North American Crate and Barrel stores and all digital channels, and add a…

Investor Group Signs Letter Of Intent To Purchase Bon-Ton Ahead Of Auction

Published in News Briefs
Wednesday, 11 April 2018 11:48

An investor group composed of DW Partners, Namdar Realty Group and Washington Prime Group has submitted a signed letter of intent to acquire Bon-Ton Stores, the retailer said in a statement. The parties agreed on a minimum bid of $128 million in cash and a total number based on Bon-Ton's…

Walmart Partners With Postmates To Expand Grocery Delivery Service

Published in News Briefs
Tuesday, 10 April 2018 13:46

Walmart will work with Postmates as part of its effort to expand its online grocery delivery to more than 40% of U.S. households. The partnership kicked off April 10 in Charlotte, N.C., and will expand to other cities in coming months. Walmart personal shoppers will pick items at the store,…

Farm & Home Supply Streamlines Service Centers With Repair Tracking Software

Published in News Briefs
Tuesday, 10 April 2018 11:53

Farm & Home Supply, based in Quincy, Ill., operates in-store service centers in its 12 locations for lawn mower engine tuning, chainsaw sharpening and weed-eater repairs. After a successful three-month pilot in the Quincy location, RepairStorm repair tracking software was rolled out chainwide to speed up the service centers’ check-in process,…

Adyen Named Gold-Level Member Of Oracle Retail Network

Published in News Briefs
Tuesday, 10 April 2018 10:14

Oracle has named payment platform Adyen as a Gold-level member of Oracle PartnerNetwork (OPN). Oracle has recognized Adyen’s ability to deliver complementary and unified payment gateways for the Oracle Retail Xstore solutions. Adyen provides modern end-to-end infrastructure connecting directly to Visa, Mastercard and other global payment methods. The service’s integration…

47% Of Shoppers Comfortable With Use Of AI In Business Interactions

Published in News Briefs
Tuesday, 10 April 2018 10:11

Just under half (47%) of surveyed shoppers are comfortable with companies using artificial intelligence (AI) in business interactions, with men slightly more comfortable (53%) than women (43%), according to a survey from SAS. Despite these general reservations, significant minorities of shoppers accept the use of AI for specific purposes: Sending…

Fanatics Leverages Cloud To Bolster Customer Service Experiences

Published in News Briefs
Monday, 09 April 2018 16:40

Fanatics, an e-Commerce sports merchandise retailer, has selected the Oracle Customer Experience (CX) Cloud suite to help launch new customer service initiatives, including its Jersey Assurance offering. The Jersey Assurance program offers fans a free replacement jersey if an active professional athlete switches teams within 90 days of purchase. The…

Boxed Unveils $49/Year Premium Membership Service

Published in News Briefs
Monday, 09 April 2018 13:44

Boxed has rolled out a premium membership service called Boxed Up. Members pay a $49 per year fee with a 30-day free trial, half that of the $99 Amazon Prime annual membership fee. Benefits include 2% cash rewards on purchases and free priority shipping for orders as low as $19.99. The…

Study: 86% Of Retailers Will Implement BOPIS This Year

Published in News Briefs
Monday, 09 April 2018 12:27

Approximately 89% of retailers, manufacturers and logistics companies agree that e-Commerce is driving the need for faster delivery, according to the Future of Fulfillment Vision Study from Zebra Technologies Corp. Retailers are rising to the challenge, with 76% using store inventory to fulfill orders and 86% planning to implement a…

Nine West Holdings To Restructure Under Bankruptcy

Published in News Briefs
Friday, 06 April 2018 17:57

Nine West Holdings filed for Chapter 11 bankruptcy, and will restructure around its profitable and growing businesses, including One Jeanswear Group, The Jewelry Group, The Kasper Group and Anne Klein. The retailer received a $300 million loan from investors to fund operations during the process. The bankruptcy process will facilitate…

Champion Athleticwear Opens First U.S. Retail Store

Published in News Briefs
Friday, 06 April 2018 17:43

Champion Athleticwear, makers of athletic apparel since 1919, will open its first U.S. retail store. Located at 123 South La Brea Avenue in Los Angeles, the store is set to open on April 7.

Retail Employment Dips In March Following February Surge

Published in News Briefs
Friday, 06 April 2018 16:00
Written by Marie Griffin

Although retail employment slipped by 6,400 in March, job numbers were ahead for the year and stronger than a year ago, the National Retail Federation (NRF) said. Industry employment in March 2018 was 30,800 higher than unadjusted March 2017 figures and followed the addition of 42,400 jobs in February. The…

Instacart Closes $350 Million Fundraising Round To Accelerate Expansion

Published in News Briefs
Friday, 06 April 2018 15:01

Instacart raised $350 million in a Series E financing round led by Coatue Management, putting the grocery delivery company’s valuation at $4.35 billion. The round includes $200 million in funding that Instacart previously announced in a February blog post. The company has raised more than $1 billion since its founding…

Data Breach At Chatbot Service Potentially Affects 100,000 Sears Consumers

Published in News Briefs
Friday, 06 April 2018 12:27

UPDATE: Best Buy confirmed in a statement that a number of customers may have had their payment information compromised during the [24]7.ai payment breach. Best Buy has not revealed the number of potential customers affected by the breach, indicating "a small fraction of our overall online customer population could have been…

Chef’d And Innit Launch Customizable Meal Kits

Published in News Briefs
Thursday, 05 April 2018 14:54

Chef’dChef’d will now offer customizable meal kits through the Innit app. Shoppers can order the exact ingredients they want and receive personalized instructions in-app, merging the journey from meal planning to preparation on one platform. Once the ingredients in a meal are selected, shoppers can choose the date when Chef’d…

VR In Marketing And Retail Could Generate $1.8 Billion By 2022

Published in News Briefs
Wednesday, 04 April 2018 15:24

The use of virtual reality (VR) in the retail and marketing sectors is expected to generate $1.8 billion in 2022, up from $181 million in the last year, according to ABI Research. The technology has reached a point where VR can further enhance the at-home shopping experience. The fashion, beauty…

Giant Food Rolls Out Healthy Food Ratings Chainwide

Published in News Briefs
Wednesday, 04 April 2018 15:00

Giant Food, GIANT/MARTIN'S and Stop & Shop are the latest supermarket chains to roll out the Guiding Stars nutrition navigation program, which highlights particularly healthful items. Products can have one-star, two-star or three-star ratings, representing whether they have good, better or the best nutritional value. The labels will appear at all…

Russian Hypermarket Chain Sharpens Pricing Strategy

Published in News Briefs
Tuesday, 03 April 2018 16:33

Following a successful pilot in 2017, Lenta is sharpening its customer-focused pricing approach by deploying Revionics Price Optimization across all of its hypermarkets and supermarkets this year. The retailer will be positioned to leverage advanced analytics services powered by AI and machine learning, which includes:

BJ’s Becomes Official Yankees Sponsor For The 2018 Season

Published in News Briefs
Tuesday, 03 April 2018 15:04

BJ’s Wholesale Club has partnered with the New York Yankees for 2018, the first partnership with the team in the retailer’s history. The sponsorship will give BJ’s shoppers a chance to win game tickets, exclusive Yankees experiences and memorabilia. BJ’s will work with the Yankees to build the retailer’s brand…

Toys ‘R’ Us Shuts Down E-Commerce Site As Liquidation Continues

Published in News Briefs
Tuesday, 03 April 2018 14:33

While many Toys ‘R’ Us stores are still operating as they hold going-out-of-business sales, the retailer wasted no time officially shutting down the online presence for Toys ‘R’ Us and Babies ‘R’ Us. The retailer issued a statement on the front page of toysrus.com, notifying shoppers that they can no…

Walmart Health Care Ambitions Could Include Swallowing PillPack For ‘Under $1 Billion’

Published in Mergers & Acquisitions
Tuesday, 03 April 2018 14:11

Less than a week after reports circulated that Walmart was in preliminary talks to acquire health insurance company Humana, the retail giant is making progress toward possibly buying another health care company. Walmart is in talks to acquire PillPack, an online pharmacy startup, for “under $1 billion,” according to CNBC. The deal could still fall apart, but discussions between the two companies have been ongoing for months, the report said.

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