Strategy

Digital retailing is on the rise, but sometimes you just need to speak to a human being.

Online home furnishings retailer Wayfair is making this task even easier for its growing customer base with the opening of a new customer service center in Bangor, Maine. The facility will employ 450 full-time customer service positions, a workforce that will reinforce an already-reputable retail experience among its rapidly growing customer base.

Kroger Co. posted second quarter earnings that topped expectations but the chain cut its guidance for the year citing ongoing price deflation.

"If you look at the price of milk, eggs and commodities like that, they're historically low. Meat continues to be deflationary and produce is on a deflationary trend," Kroger CFO Michael Schlotman said on CNBC on Friday.

The nation’s largest specialty bedding retailer posted disappointing results on Friday for its second quarter.

Mattress Firm Holding Corp. on Friday reported a loss of $2.2 million, after reporting a profit in the same period a year earlier.

Revenue increased 48.2% of $980 million, which also fell short of Street forecasts, reflecting incremental sales from acquired and new stores.

Same-store sales fell 1.1%.

The more casual sister of Loft and Ann Taylor has opened its first location in New York City.

The store, in Manhattan’s Flatiron district, reflects the easy-going, laid-back approach of the merchandise on display, with a design that evokes a soft, clean feeling. It features marble tables and fitting rooms that evoke a lounge space – floating curtains in linen with pink velvet stools.
       

For the sixth time, Nest has appeared on Inc. magazine’s ranking of the nation’s fastest-growing private companies.

Nest — ranked no. 4783 on the 35th annual Inc. 5000, with three-year sales growth of 48%. The listing features successful companies within the American economy’s most dynamic segment — independent small businesses. Companies such as Microsoft, Dell, Domino’s Pizza, Pandora, Timberland, LinkedIn, Yelp, Zillow, and many other well-known names gained their first national exposure as honorees of the Inc. 5000.

Retailers have learned a lot of hard lessons from cyberattacks. Many cyberattacks successfully targeted the giants of the industry. Wanting to avoid the same fate, organizations are making significant investments in security technologies and educating their employees on best practices.

But what happens when these investments aren’t enough? While companies are becoming smarter in their security approach, hackers are also growing more sophisticated in their attacks.

Top suppliers don’t seem very worried about Macy’s looming store closings. And neither does the CEO of Gap Inc., according to a report by CNBC.com.   Gap chief executive Art Peck told attendees at Goldman Sachs' Annual Global Retailing Conference that he sees the Macy's store closures as an opportunity to grab market share, the report said.  

The nation’s largest book-seller Thursday lowered its full-year same-store sales forecast amid declining sales caused by the upcoming election.    At least that’s how Barnes & Noble founder and executive chairman Leonard Riggio partially explained the chain’s disappointing first quarter results. Riggio, 75 and the company’s largest shareholder, has been leading Barnes & Noble since August, when it fired CEO, Ronald Boire, who had been in the position for just under a year.   

Collaboration is key when it comes to seamlessly creating private-label apparel to sell across branded stores and department store partners.   In effort to streamline information sharing across product development processes, GANT is deploying a product lifecycle management (PLM) solution that promises to improve its product-hit rate, shorten lead times, and enhance margins.  

Kimco Realty Corp. has purchased the remaining 85% interest in a four-property joint venture portfolio, a deal that includes the assumption of $103 million in mortgage debt. The company also announced it had acquired a Whole Foods-anchored center in the D.C. area for $95 million.