Strategy

Macy's is overhauling its loyalty program, putting a new focus on its best customers.   The department store retailer is revamping its Star Rewards program with a tiered rewards system that gives its very best shoppers (those who spend $1,200 or more annually) such perks as free shipping, additional savings and earned points on every purchase.  

Bass Pro Shops and Cabela's have officially joined forces — finally.   Bass Pro Shops' acquisition of Cabela’s Inc. is complete. The deal, in the works for more than a year, brings together two of the nation's leading outdoor gear and apparel retailers. Bass Pro, a leader in fishing, operates more than 100 retail stores, while Cabela's, which is heavy into hunting, counts 89 locations. Also part of the unified company, which will be privately held, is Bass Pro's White Marine Group boating division. 

Retail today isn’t for the faint-hearted. A recent quote from business magnate and investor Warren Buffet is quite telling, “I think retailing is just too tough for me, just generally.”   

The nation's largest private employer is working with the country's largest social network.    Walmart has signed on to use Facebook’s Workplace enterprise collaboration platform. Launched in fall 2016, Workplace is designed to connect colleagues within a company, and allow them to message each other, share images and broadcast live videos.   

In an important vote of confidence in its brand from key lenders, Toys "R" Us closed on crucial financing just in time for the holiday crunch.   The retailer announced that it has closed on $3.1 billion of financing facilities that will support its operations during its restructuring process. The financing was from a group of lenders led by JP Morgan.  

Accenture has signed on as the title sponsor for the Retail Cyber Intelligence Summit, which will be held in Chicago, October 3 - 4, 2017. The event is sponsored by the Retail Cyber Intelligence Sharing Center (R-CISC).   

U.S. retail CEOs are optimistic about growth prospects.   That's according to the 2017 KPMG U.S. CEO Outlook report by U.S. audit, tax, and advisory firm KPMG, which found that 95% CEOs of U.S. consumer goods and retail companies are confident about the growth outlook for the global economy, the industry and their companies over the next three years, despite potential technological risks. Their peers in other parts of the world, do not share the same optimism, the report found.  

Kevin Mansell, chairman, CEO and president of Kohl's, will retire in May 2018 at the end of the company’s annual shareholders meeting. The 35-year Kohl's veteran has served as its chief executive for nearly 10 years.