Strategy

Ralph Lauren Corp. is seeking to rectify what it acknowledges have been operational mistakes with a program of cuts and organizational streamlining it calls “The Way Forward Plan.”

When it comes to customer experience, home improvement shoppers have established a long-term favorite.

Ace Hardware ranks highest in customer satisfaction with home improvement retailers for a 10th consecutive year, according to the J.D. Power 2016 Home Improvement Retailer Satisfaction Study. The study measures customer satisfaction with home improvement retailers by examining merchandise; price; sales and promotions; staff and service; and store facility. Satisfaction is measured on a 1,000-point scale.

Today’s retailers face significant challenges as online increases its share of wallet, mall-based stores stumble, technology requirements mount, and customer engagement remains elusive for many. The business environment is clearly marked by the need to rationalize store counts, headcount, and product count.
 
As management faces up to these challenges, they seek purposeful justification of expenditures, higher shareholder returns, and greater customer engagement.
 

Casey’s General Stores Inc. reported increased net income and decreased revenue during the fourth quarter of fiscal 2016.

The retailer also said it plans to build or acquire 77 to 116 new stores, among other goals for fiscal 2017.

In the fourth quarter, Casey’s reported net income of $47.04 million, up 14% from $41.34 million the same period the prior year. Total revenue fell 4% to $1.58 billion, from $1.65 billion. A significant reduction in cost of goods sold offset increases in operating and other expenses, resulting in higher profits.

Specialty home furnishings Bed, Bath & Beyond Inc. is expanding its omnichannel credit and CRM offerings with help from marketing and loyalty solutions provider Alliance Data Systems Corp.

Bed Bath & Beyond has signed a new long-term agreement to create a co-brand credit card program. Alliance Data will develop a tailored marketing strategy for the retailer and each of its concepts, utilizing its data-driven lifecycle marketing approach.

Mary Meixelsperger, senior VP and CFO DSW Inc., is shifting professional gears

Meixelsperger has resigned from the company effective June 10, to pursue another unspecified opportunity. Coincidentally or otherwise, DSW recently missed expectations for both profits and sales in a difficult first quarter of fiscal 2016. Net income fell 37% and same-store sales also declined, although revenues grew below Wall Street forecasts.

Amazon.com is now offering one-hour deliveries of grocery items to Prime Now members in the Dallas area, via an expanded partnership with Sprouts Farmers Market.

The e-tailer will allow Dallas Prime Now members to shop for Sprouts items via their accounts. Orders will then be picked from a local Sprouts store by Amazon and Sprouts employees and given to a driver for delivery.

Canadian retail conglomerate The Loblaw Cos. Inc. is pulling up stakes on store-based operations of its Joe Fresh banner in the U.S.

According to the Financial Post, Loblaw has closed the final remaining U.S. Joe Fresh store in the SoHo neighborhood of New York, and also no longer distributes the apparel brand through J.C. Penney stores in the States.

Phillips Edison Grocery Center REIT I Inc. is acquiring a grocery-anchored shopping center, expanding the company’s holdings in Massachusetts.

Northwoods Crossing is a 159,562-sq.-ft. grocery store-anchored shopping center in Taunton, Massachusetts, a suburb 40 miles south of Boston. The center is anchored by BJ’s Wholesale Club. It also features national and regional tenants such as Tractor Supply Company, Dollar Tree, Subway, Ruby Tuesday and Wendy’s.

Hubert Joly, CEO of Best Buy Inc., is doing a little diversification of his personal stock portfolio.

Bloomberg reports that as of June 2, Joly has sold 398,000 shares of Best Buy stock, or 44% of his roughly 910,000 company shares, for $12.8 million.

The retailer said Joly is not exploring other opportunities and has no plans to leave his current position.