Latest Retail News

Vintage Capital Buys Struggling Rent-A-Center For $1.36 Billion

Published in News Briefs
Monday, 18 June 2018 14:40

Rent-A-Center will be acquired by Vintage Capital for approximately $1.36 billion in a deal that values the company’s stock at $15 per share. Vintage will take the retailer private after the transaction closes.

H&M Launches Afound, A Discount Omnichannel Retailer

Published in News Briefs
Monday, 18 June 2018 13:54

Afound, an omnichannel discount fashion retailer own by H&M Group, will feature both external brands and H&M’s own labels, including COS, & Other Stories, Weekday and Cheap Monday. The retailer has selected Mirakl to launch its fashion marketplace.

$550 Million Google Investment Opens U.S. Sales Channel For JD.com

Published in News Briefs
Monday, 18 June 2018 11:42

Google will invest $550 million in cash in Chinese e-Commerce giant JD.com. By combining JD.com’s supply chain and logistics with Google’s technology, the two companies will collaborate to develop retail infrastructure designed to better personalize the shopping experience and reduce friction in several markets, including Southeast Asia. As part of…

In-Car Commerce Retailer Collaborates With Snapchat For West Coast Launch

Published in News Briefs
Thursday, 14 June 2018 13:45

Cargo, which places boxes with items for sale in ridesharing vehicles such as Uber, has partnered with Snapchat for its launch in the Los Angeles, Calif. market. In addition to using the Cargo app to shop for products, passengers can access the Cargo storefront from the Snapchat app by scanning…

Microsoft Exploring Automated Store Technology, Collaboration With Walmart

Published in News Briefs
Thursday, 14 June 2018 12:01

Microsoft is working on cashier-less retail technology, according to Reuters. If it proves successful, the technology could present a challenge to Amazon Go and boost Microsoft’s position as a retail solution provider.

Walgreens Launches Chef’d Meal Kits At 30 New York Metro Stores

Published in News Briefs
Wednesday, 13 June 2018 17:43

Walgreens will partner with Chef’d to introduce meal kits at 30 Walgreens and Duane Reade stores in the New York area, according to CNBC. The pilot marks the expansion of a collaboration between Chef’d and Smithfield Foods that launched in May 2018, putting the retailer’s meal kits on shelves at Costco,…

Sears Expands Amazon Tire Partnership To 118 Stores

Published in News Briefs
Wednesday, 13 June 2018 15:48

Sears Holdings has expanded its Sears Auto Center partnership with Amazon across the U.S., reaching 118 stores in 21 states. The collaboration lets shoppers order tires from Amazon and have them shipped to a Sears auto shop, where they can be installed for a small fee.

Guess Co-Founder Paul Marciano Resigns Following Sexual Misconduct Investigation

Published in News Briefs
Wednesday, 13 June 2018 12:51

Paul Marciano, Executive Chairman and Chief Creative Officer of Guess, has resigned as Executive Chairman, according to a filing with the Securities and Exchange Commission. His departure follows an investigation into alleged sexual misconduct that included 40 interviews and approximately 1.5 million pages of documents.

Carrefour Partners With Google For Grocery E-Commerce, Innovation Lab

Published in News Briefs
Tuesday, 12 June 2018 13:15

Carrefour is teaming up with Google to sell groceries through Google Home, Google Assistant and Google Shopping in France. The service will be available in early 2019, with options for both home delivery and in-store pickup.

Home Depot Opening 170 Distribution Facilities By 2023

Published in News Briefs
Tuesday, 12 June 2018 11:08

Home Depot plans to spend $1.2 billion over the next five years to improve its delivery and supply chain capabilities, according to The Wall Street Journal. The retailer will open 170 distribution facilities across the U.S., allowing it to reach 90% of the population in one day or less. The…

Amazon Reportedly Picks Chicago Locations For Two Amazon Go Shops

Published in News Briefs
Tuesday, 12 June 2018 09:47

While Amazon still operates only one Amazon Go store, at its headquarters in Seattle, the retailer appears to have picked the next spot for its cashierless store concept to break ground: Chicago. Amazon Go has leased spaces in the Willis Tower and in an office building connected to Ogilvie Transportation…

JCPenney Expanding To 650 Fanatics Stores-Within-A-Store

Published in News Briefs
Monday, 11 June 2018 15:30

JCPenney is expanding its in-store partnership with Fanatics, a licensed sports merchandise retailer. The department store retailer currently houses 325 Fanatics shops, and will add another 325 in time for the 2018 back-to-school season.

Authentic Brands Buys Nine West, Bandolino IP For $350 Million

Published in News Briefs
Monday, 11 June 2018 12:06

Authentic Brands Group has won the auction for the intellectual property of Nine West Holdings with a bid of approximately $350 million, according to Reuters. The company initially had offered $200 million for the Nine West and Bandolino businesses.

ModCloth Expands Store Presence Across The U.S.

Published in News Briefs
Friday, 08 June 2018 12:08

ModCloth, a Walmart-owned e-Commerce clothing retailer, will open five stores in 2018 after years of operating only one location, according to Business Insider. The retailer’s second shop opened June 8 in San Francisco, with additional openings slated for New York, Los Angeles and Washington, DC.

Westlake Ace Hardware Raises Fan Donations For Needy Families

Published in News Briefs
Friday, 08 June 2018 09:54

Westlake Ace Hardware is partnering with The Salvation Army to help communities in need beat the heat as the summer hits. The retailer is asking customers at 100 stores to donate from June 7 through June 24. The donations will help pay for fans to help needy families have a…

E-Commerce Retailer Opens Door For More U.S. Brands In China

Published in News Briefs
Thursday, 07 June 2018 12:06

VIPShop, operator of the Chinese e-Commerce site VIP.com, is increasing the number of U.S. apparel and accessory brands available on its platform. The company has an audience of 300 million users, and expects to triple its current sales of U.S. goods to $6 billion in 2020.

Zalando Expands Operations To Ireland, Czech Republic

Published in News Briefs
Wednesday, 06 June 2018 15:55

Zalando, a European online fashion retailer, unveiled plans to expand to Ireland and the Czech Republic, bringing the number of European countries currently covered by the company to 17. This is Zalando’s first expansion into a new market since 2013, adding a potential 15.4 million customers to its nearly 24…

Alibaba Pledges Major Retail Investments For Beijing

Published in News Briefs
Tuesday, 05 June 2018 19:09

Alibaba has signed a strategic partnership with Beijing to turn the capital into a “city of new retail,” according to KrASIA. Alibaba will apply technologies including big data, cloud computing, artificial intelligence (AI) and online mapping across the municipality. Beijing will serve as a test bed for several of Alibaba’s…

Griot’s Garage Boosts Conversion Rates 10% With Upgraded E-Commerce Site

Published in News Briefs
Tuesday, 05 June 2018 17:32

Griot’s Garage, a car care products and detailing tools company, has completed an upgrade of its e-Commerce site, powered by solutions from Kibo, a cloud-based omnichannel commerce platform, and DEPlabs. Since its launch, the new web site has generated a 10% increase in conversion rates and a 15% increase in…

Hudson’s Bay Sells Gilt To Rue La La, Vacates Lord & Taylor NYC Flagship Store

Published in Mergers & Acquisitions
Tuesday, 05 June 2018 11:59
Written by Glenn Taylor

Hudson’s Bay Company (HBC), which acquired Gilt Groupe for $250 million only two years ago, agreed to sell the flash sale business to Rue La La for less than $100 million. Gilt, which was once valued at more than $1 billion, has seen its value plummet as much of the enthusiasm tied to flash sales sites continues to wane. Rue La La plans to hire 150 employees to run the Gilt business following the close of the deal, which is expected at the end of July.

Starbucks Executive Chairman Schultz Takes Off The Green Apron

Published in News Briefs
Monday, 04 June 2018 17:23

After four decades as CEO and Chairman of Starbucks, during which time the company grew from 11 stores to more than 28,000 locations in 77 countries, Howard Schultz will be stepping down on June 26. Myron E. Ullman, the former chairman of JCPenney, will be the next chair of Starbucks…

Macy’s Taps Staff For Their Influencer Clout

Published in News Briefs
Friday, 01 June 2018 16:02

Macy’s is turning its store associates and personal stylists into social media brand ambassadors, allowing the retailer to exert more control over its influencer network, according to Glossy. Employees are now eligible to apply to the Macy’s Style Crew program, which has them share promotional posts on their social media feeds…

Will Best Buy’s Total Tech Support Service Boost Brand Loyalty?

Published in News Briefs
Friday, 01 June 2018 12:23
Written by Glenn Taylor

Last week, Best Buy unveiled announced a move to take its Geek Squad tech support services nationwide, as an addition to the company’s “New Blue” growth strategy. The Total Tech Support subscription program is now available for an annual fee of $199.99 and offers Unlimited Geek Squad support in-store, by…

Prime Member Discounts At Whole Foods Expand To 12 States

Published in News Briefs
Wednesday, 30 May 2018 17:52

Amazon has brought Prime member savings to an additional 121 Whole Foods stores in 12 states and all 365 by Whole Foods stores nationwide. Prime subscribers will receive an additional 10% off sale items, in addition to exclusive weekly discounts on select products.

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