Strategy

Payments are no longer a means to an end for accepting money and finalizing a transaction.

According to a new global survey of senior retail executives responsible for payments strategy and/or payments IT strategy from payments company ACI Worldwide and technology analyst firm Ovum, “2016 Global Payments Insight Survey: Merchants and Retailers,” up to 81% of retailers view payments as a clear part of their business strategy.

East Coast Wings & Grill’s ambitious growth plans are poised to benefit from a data-driven approach to site selection made possible by the Buxton Analytics Platform.

The casual dining chain currently has 31 locations and has signed agreements to add 80 new restaurants across the country within the next five years. To ensure those restaurants are in the optimal locations, East Coast Wings & Grill partnered with customer analytics firm Buxton.

East Coast Wings & Grill’s ambitious growth plans are poised to benefit from a data-driven approach to site selection made possible by the Buxton Analytics Platform.

The casual dining chain currently has 31 locations and has signed agreements to add 80 new restaurants across the country within the next five years. To ensure those restaurants are in the optimal locations, East Coast Wings & Grill partnered with customer analytics firm Buxton.

Sears Holdings will shutter its apparel design office in New York City.

The struggling retailer will shutter the 154-employee office in July, reported the New York Post, which cited a Department of Labor filing.

Sears will move approximately 40 positions to an existing site in San Francisco, with the remainder positions to be cut, according to the report.

SuperValu Inc. on Tuesday reported fiscal fourth-quarter profit that beat expectations. But in a setback to plans to spin-off its deep-discount banner, same-store sales fell 2.2% at Save-A-Lot.

SuperValu earnings in the quarter increased to $52 million, or 20 cents a share, up from $39 million, or 14 cents a share, a year earlier. Excluding debt refinancing, store closures and expenses related to the potential Save-A-Lot spinoff, adjusted per-share earnings rose to 23 cents.

Coach on Tuesday reported its first growth in quarterly profit in three years. The retailer also announced a series of management changes and corporate job reductions resulting in a pre-tax charge of about $65 million to $80 million in the fourth quarter.

Coach said it would cut an unspecified number of corporate jobs, and announced that president and COO Gebhard Rainer and global marketing president David Duplantis would leave the company.

RadioShack has named a new CEO with retail turnaround and transformation experience.

Dene Rogers will join the company as president and CEO on May 9, 2016. Rogers, who will also serve on RadioShack’s board, previously served as CEO of Target Australia and CEO of Sears Canada, which he led to become Canada’s most profitable online retailer, according to RadioShack.

At RadioShack, Rogers replaces CFO Gordon Briscoe, who has been interim CEO since January when Ron Garriques left the post after serving less than a year.

Supervalu on Monday announced that experienced financial executive and corporate board member Mary Winston has been appointed to Supervalu's board of directors effective April 27, 2016.

While generally steady post-recessionary economic performance has led to an extended period of retail growth, retailers and retail real estate professionals around the country have begun openly wondering about just how high rental rates can continue to climb. In the last few years, occupancy costs are up significantly virtually across the board; most dramatically in dense urban locations in larger markets.

Chico's FAS is getting rid of its chief marketing officer.

The apparel retailer on Monday announced a realignment of its marketing and digital commerce functions that the company expects will reduce its 2016 marketing expenses by $11 million and generate annualized cost savings of approximately $14 million.