Finance & Capital Management

Walmart cutting 1,500 back-office jobs — but associates not being laid off
Walmart is trimming administrative positions in some 500 stores in the West. According to multiple media reports, the discount giant will cut three backroom accounting and invoicing positions at each store, for a total of 1,500 jobs. Affected employees will not be laid off, but instead offered front-of-store roles such as pharmacy technician or assisting pickups of online orders. Invoicing tasks will be shifted to corporate headquarters in Arkansas, while accounting functions will be automated.
Kroger profit rises 10%
The Kroger Co. topped Wall Street expectations with more than one result in the first quarter of fiscal 2016.

Report: Amazon to change some Marketplace fees

Amazon.com is reportedly going to make it easier for third-party sellers on its Marketplace platform to sell certain items.
Plenty of room for women at the top in retail

A Swedish retail giant that excels in fast-fashion is also a leader when it comes to breaking the glass ceiling. But a U.S. merchant is not that far behind.
Retail loyalty is big business

Customers who belong to a retailer’s loyalty program spend more — significantly more — than those who do not. That’s according to a new study by Accenture Interactive, which found that members of retailers’ loyalty programs generate between 12% and 18% more revenue for retailers than those who do not belong. The report was based on a survey of U.S. retailers across specialty, big-box, department, drug and convenience stores.
Second quarter promising so far for Havertys

The second quarter of fiscal 2016 is not yet over for home furnishings retailer Havertys, but shareholders may have reason to be optimistic. Havertys reported that sales for the quarter to date are up approximately 3.6% from the same period last year and comparable store sales are up 3.2%. Total written sales for the quarter to date are up approximately 7%, and written comparable store sales rose 6.7%.
Bed Bath & Beyond acquires home décor site — probably for a steal

Bed Bath & Beyond made another move to boost its online offerings by acquiring a home furnishings and home décor flash-sales site.
NRF: Inventory shrink getting worse

If it seems like more if your inventory is disappearing, you’re probably not imagining things. According to the 2016 National Retail Federation (NRF) Retail Security Study, conducted in collaboration with the University of Florida, retailers’ inventory shrink averaged 1.38% of retail sales, or $45.2 billion in 2015, up by 3% from $44 billion the previous year.
Specialty retailer outsourcing real estate department

Brookstone has retained New York-based RCS Real Estate Advisors to operate as the retailer’s outsourced real estate department. Brookstone operates 218 stores across the United States and Puerto Rico in shopping malls, airports and other locations.
Orlando tragedy is personal for Target

Target Corp. is donating $250,000 to the OneOrlando Fund in honor of the retailer's two associates and other victims killed in the nightclub massacre that occurred early Sunday morning in Orlando, Florida. Target lost two employees, Mercedes Flores and Luis Omar Ocasio-Capo, in the mass shootings. Flores was a Target employee for eight years, and Ocasio-Capo for two years. A third Target employee remains in critical condition.

Finance & Capital Management

Walmart cutting 1,500 back-office jobs — but associates not being laid off

Kroger profit rises 10%

Report: Amazon to change some Marketplace fees

Plenty of room for women at the top in retail

Retail loyalty is big business

Second quarter promising so far for Havertys

Bed Bath & Beyond acquires home décor site — probably for a steal

NRF: Inventory shrink getting worse

Specialty retailer outsourcing real estate department

Orlando tragedy is personal for Target