Strategy

RadioShack Corp. has entered into the newest chapter of its financial saga.   The company, which recently filed for bankruptcy protection, closed 1,000 stores over the Memorial Day weekend. This move leaves the chain with a mere 70 company-owned stores and 500 dealer stores in operation across the U.S., according to Fortune.  

Fred Segal is designing its new flagship to be more than a just “a store.” Instead, it’s creating “a style and design laboratory.”  

Amazon’s newest win aims to further improve how it delivers packages.   The online giant won a patent from the U.S. Patent and Trademark Office on May 30, for an “aerial package delivery system.” While Amazon is no stranger to using drones, the company’s newest air-based endeavor raises the bar another notch.  

While the industry continues to explore how to leverage virtual reality, Walmart is embracing the technology in a big way.   The retail giant will be adding VR-based instruction at its 200 Walmart Academy training centers in the United States by the end of the year. The technology will be used to educate approximately 140,000 employees that go through the program each year, according to Walmart.  

Product innovation, an enhanced digital experience, and its first-ever global brand campaign boosted Lululemon’s first quarter earnings — however these gains are not swaying the company’s restructuring plans.   The athleisure brand is currently restructuring Ivivva, its activewear brand for girls. The division will operate primarily as an e-commerce business, supported by only a select number of stores in key communities across North America.   

Peloton, a four-year-old startup that sells exercise bikes tied to a live-streamed workout experience, is revving up for expansion armed with fresh capital.   The company announced it has recently closed a $325 million series E financing round, which brings its total valuation to $1.25 billion. The round was led by Wellington Management, Fidelity Investments, Kleiner Perkins, and True Ventures. Other significant investors in this round included Comcast NBCUniversal, GGV Capital, Balyasny, and QuestMark.  

Yes, it’s official. The robotics revolution is coming to retail, as it is in many industries. I know robots roaming store aisles probably still sounds like something from “Back to the Future,” however, within a decade, I’m confident they will be such a normal part of the store experience we will find it hard to imagine life without them.  

The parent company of Dunkin' Donuts and Baskin-Robbins has ended its hunt for a new chief financial officer.    Following a comprehensive search for a permanent CFO, Dunkin’ Brands has promoted Kate Jaspon to the position, effective June 5, 2017. Jaspon was appointed the company’s interim CFO when Paul Carbone left the position in April to become COO at a specialty retail chain. She will report directly to Dunkin' Brands' CEO Nigel Travis.  

Mid-America Real Estate has been tapped to handle the marketing and leasing of the Macy’s building being redeveloped in downtown Minneapolis.   Located on the corner of South 7th and Nicollet Mall, the landmark store that was originally Dayton’s will tie together its street and skyway levels and fill them with entertainment providers, a food hall, and traditional retailers new to the market. 601w Companies and United Properties are the developers.  

1-800-Flowers.com has officially sold its premium chocolates business.   The gifting retailer closed on the sale of Fannie May Confections Brands — including its subsidiaries Fannie May Confections and Harry London Candies — to Ferrero International on Tuesday, May 30. The deal, which is valued at $115.0 million, entitles Ferrero to all operations of Fannie May, the confectioner’s manufacturing facility in Ohio, and two warehouse and distribution facilities, located in Ohio and Illinois.