Strategy

Walgreens is ready to shutter up to 1,000 stores, but no one is biting.   In accordance with the closing of its deal to purchase Rite Aid, the Walgreens Boots Alliance must sell or close between 500 and 1,000 of its stores. However, there is a lack of interest among private equity firms, according to an Investopedia article.   Walgreens still expects to move forward with the Rite Aid acquisition, which is slated to close in the second half of this year, the article said.  

The key to success is customer satisfaction. By arming itself with a fleet of “great personnel,” The Container Store is always ready to deliver top-notch store-level service. This message was delivered during “Doing Well by Doing Good — How to Build Trust and Win the Modern Customer,” a topic discussed yesterday at “Retail’s Digital Summit 2016.” The event, sponsored by Shop.org, a division of the National Retail Federation, was held in Dallas.

Walmart’s next e-commerce power-play is reportedly in the works.   In its latest move to compete against its online nemesis amazon.com, Walmart is reportedly ready to invest up to $1 billion in Flipkart, according to an article in Quartz.   

Knowing business is not just about sales, Staples leads the charge when it comes to responsible business practices.   The chain’s positive impact on society — and the planet, as a whole — has earned Staples a place on the Dow Jones Sustainability Index for the thirteenth year in a row. The global benchmark weighs corporate responsibility and sustainability performance among the largest 2,500 companies listed on the Dow Jones Global Total Stock Market Index.   

Zappos.com has found a new way to “wow” its passionate shoppers.    In a strategic move to drive engagement, the online shoe retailer launched its first-ever loyalty program. Called Zappos Rewards, the progression-based program will allow customers to earn points toward future purchases, get free expedited shipping on all orders, and receive early access to exclusive products and sales.  

Forest City Realty Trust has announced the completion of an agreement with Arlington County, Virginia, to transform Ballston Common Mall in a mixed-use project to be renamed Ballston Quarter.   The public-private partnership will open up the existing enclosed mall, create a public plaza in the space, and add a 406-residence residential tower adjacent to the retail center. The plan also calls for infrastructure improvements including a renovated pedestrian bridge and new landscaping  

Simon Properties has announced the impending arrivals of Cartier and Hermes at its Stanford Shopping Center in Palo Alto, California. This marks Hermes’ first new U.S. store in five years, according to Simon.   The 6,000-sq.-ft. Hermes shop, which will reside near Neiman Marcus in the center of the newly updated center, is scheduled to open in late 2017 or early 2018. Its focus will be on men's, women's, home, and equestrian collections.   

A Chicago startup has landed partnerships with four major online retailers, including Target, to launch a product meant to rival Amazon’s Alexa, according to the Chicago Tribune.

Petco is losing its longtime chairman and CEO.   Jim Myers, a 26-year company veteran and CEO since 2004, is retiring. Petco pesident and chief merchant Brad Weston, who joined the company in 2011, will succeed Myers as CEO, effective February 1, 2017.   Prior to joining Petco, Weston held senior leadership roles at Dick's Sporting Goods, May Merchandising Company and Robinsons-May.  

It’s not just how much traffic a store gets. It’s what the store does with the traffic that matters. Chain Store Age will present a webinar on how retailers can increase sales even when challenged with lower store traffic.   Store traffic analytics expert Mark Ryski will draw on real-world, data-rich examples as he provides critical information on how retailers can drive significantly better retail performance for the holiday season and beyond—despite persistent ‘traffic trouble’.