Marketing

In a classic case of “if you can’t beat ‘em, join ‘em,” Neiman Marcus is deepening its relationship with an organization that could be viewed as a competitor.

The Home Depot Inc. is spending about $1.6 billion in an acquisition squarely aimed at better meeting the needs of its professional customers.

The quest for innovation in the retail industry often requires unconventional partnerships, as Williams Sonoma has proven with its new Harvard smoker.

The retailer tasked one of Harvard University's engineering classes to come up with a better way to barbecue and smoke meats. In the end, a team of students invented a smoker that can eliminate hot spots and keep a constant and precise low temperature both in the smoker and the meat itself. The retailer is now is in the process of developing and producing the unit, which could retail for under $1,000. 

Brooklyn, N.Y. - Home furnishings retailer West Elm will open its first South Carolina retail store in the Charleston on Aug. 13.

The nearly 10,000-sq.-ft. store will open with West Elm’s fall 2015 product assortment, a suite of complimentary design services and feature crafted goods by nine local artists and makers as part of West Elm’s “Local” initiative.

The new store is expected to bring an estimated 25-30 jobs to the Charleston community.

Plymouth Minn. – Tile Shop Holdings Inc. had a successful second quarter of fiscal 2015, meeting Wall Street expectations for profit and beating them for revenue. Net income rose 20% to $4.8 million from $4 million the same period a year earlier, with higher pretax income compensation for increased expenses related to the opening of 12 new stores.

Hoffman Estates, Ill. - Sears Hometown and Outlet Stores Inc. is getting a little love from its hometown. For the third consecutive year, Sears Hometown and Outlet Stores has been recognized as one of “Chicago's Best and Brightest Companies to Work For” by the National Association for Business Resources.

TigerDirect is encouraging consumers to unleash their inner geek with 18th annual PC Race.

The retailer has partnered with Intel to host the competition, which is set to kick off at QuakeCon 2015 in Dallas from July 23 to July 26. The first contestant to assemble and boot their high performance PCs in each regional race will win an all expenses paid trip to Miami to compete in the National Finals on Nov. 6 during Tech Bash.

Wolverine Worldwide reported profit declines for the second quarter as the retailer shaved the number of stores it plans to close to 120.

Boasting a proprietary dynamic pricing algorithm, the new online shopping club Jet.com officially launched on July 21 with plans to reach a lofty sales milestone faster than other retailer.

Quincy, Mass. – The sell-off of stores from the newly bankrupt Great Atlantic and Pacific Tea Co. (A&P) has begun. The Stop & Shop Supermarket Co. LLC has entered into an agreement with A&P to acquire 25 A&P stores in greater New York for $146 million.