Strategy

Walmart gave a lackluster profit outlook for next year, and said it will slow new store openings as it invests in remodels and digital initiatives.

Walmart gave a lackluster profit outlook for next year, and said it will slow new store openings as it invests in remodels and digital initiatives.  

Yesway has named Douglas New as its chief technology officer.   New will be responsible for mapping and implementing the convenience store chain’s technology strategy, including defining the execution plan for Yesway's e-commerce platform. He will also assist in helping the company achieve its goal acquiring 500 stores over the next several years, according to a company statement. He will report to Mark Daniels, the convenience store chain's chief strategy officer.  

Ascena Retail Group, whose brands include Ann Taylor, Justice, and Lane Bryant, announced organizational changes expected to provide cost-savings of $100 million to $150 million by fiscal 2019.   The changes will see a number of executives leave the company, although Ascena did not disclose who would be leave. Also, Brian Lynch, CEO and president of Justice, has been appointed company COO.  

In a bold stand, Mall of America will be closed on turkey day this year.     The mall, located in Bloomington, Minnesota, has been open for business on the holiday for the past four years. The 5.6 million-sq.-ft. mall has more than 520 stores and restaurants, and a number of attractions.      “In years past we’ve all rallied together to answer the call for 24/7 shopper access that the Thanksgiving/Black Friday weekend brings.”   

There is a new finance chief at Claire’s Stores.    The retailer has appointed Scott Huckins as its executive VP and CFO, effective Oct. 5. He joins Claire's from Sears Holdings where he served as VP, treasurer and president for Sears Re, (a wholly owned captive reinsurance company) for the last four years. In that role, he had responsibility for global treasury, capital markets, credit, risk management and reinsurance for the company.    

CallisonRTKL is expanding the services it offers to retailers around the world.    The company is adding visual merchandising services to its current lineup of retail services, which include architecture, store planning and design, brand strategy and environmental graphic design.    “Visual Merchandising is more important than ever in the retail environment,” said Ignaz Gorischek, VP, CallisonRTKL, who will lead the visual merchandising team.     

New shopping center construction may be in a nationwide lull, but not in Tarrant County, Texas, where a developer is poised to break ground on a 90-acre parcel flanked by two other sizeable centers.   A partnership controlled by the De La Vega Group will begin building a mixed-use project called The Citadel across Interstate 35 from Alliance Town Center and adjoining the newly opened Presidio Town Center north of Fort Worth. Upon its completion, retail space will top 2 million sq. ft. in the submarket.  

Between a partnership with Sonos and its expansion into the boutique hotel business, it’s been a busy couple of weeks for West Elm. And with it all, the home furnishings retailer continues to grow its core business.   West Elm will open its third store in Nevada, in Downtown Summerline, on Oct. 6. As part of the retailer’s Local program, eight Nevada-based makers and designers will sell their products with the store’s holiday assortment of modern furnishings and décor.