Strategy

Adidas has upped its game with a store that celebrates the heritage and vibe of its Venice Beach, California, locale.     The company has opened a 5,900-sq.-ft. store on Abbot Kinney Blvd., Venice Beach, dedicated to its Originals brand. The store combines such classic lines as Stan Smith with new ones such as NMD. The space will also house immersive events and installations on a regular basis in order to encourage localized experiences, create community among streetwear lovers and connect with local culture enthusiasts.

A luxury department store retailer has lost its first-ever cyber security chief.   Sarah Hendrickson has left her post as Neiman Marcus’ chief security information officer, reported D Margazine. She joined the company in November 2014, the first executive to hold the position. Neiman Marcus introduced the role following its high profile data breach in 2013.  

Tiffany & Co. has found its next chief executive.   The jeweler has named Alessandro Bogliolo as CEO, effective October 2, 2017. Tiffany has been looking for a CEO since February, when Frederic Cumenal abruptly left the company in a shakeup amid disappointing financial results.    Bogliolo, 52, has been CEO of Diesel SpA, a global apparel and accessories company, since 2013. At Diesel, he led the company’s efforts to revitalize its brand and enhance the customer experience. 

The Marketplace at Potomoc Towne Center in Ranson, West Virginia, has been acquired for $35.9 million by Heidenberg Properties Group and Strategic Real Estate Partners (SERP) in a joint venture deal. The seller was Carl Freeman Companies of Rockville, Maryland.  

J.C. Penney isn't playing around when it comes to toys.  

Last years’ Electric Daisy Carnival in Las Vegas, a music and dance fest with rides, drew 130,000 young people on its final day. This summer, Billy Joel will play his 43rd sellout concert at Madison Square Garden, where floor tickets sell in the $200 range. No matter their age or inclination, people still want to leave their laptops and homes behind and be with other people. They just need someone to give them a really good reason to do it.  

Starbucks associates have a new leader to advocate for their labor needs and well-being.   Lucy Helm was named chief partner officer, a role she has been serving on an interim basis. As the chief partner lead she will head up the company’s Partner Resources Organization (PRO), an internal group that advocates for Starbucks associates across the enterprise worldwide, whether they work in the store, support center or Starbucks manufacturing plants.  

Walmart has launched a digital platform to share tips and learnings that grew out of its five-year Women's Economic Empowerment Initiative.     As part of the ambitious initiative, which Walmart completed in January, the chain sourced $20 billion from Women Owned Businesses (WOBs) for its U.S. business, increased sourcing from WOBs internationally, and trained more than 1 million women worldwide.  

Walmart’s technology incubator — called Store No. 8 — is on the hunt for cutting edge virtual reality (VR) solutions.   

Target Corp. on Thursday surprised the industry and investors with some good news.   The discounter updated its guidance and said that as a result of improved traffic and sales trends through the first two months of the quarter, it expects to report a modest increase in its second quarter same-store sales. Target previously said it expected a decline.