Strategy

Every business magazine sports an “X Under 40” list celebrating precocious professionals. But, really, isn’t it almost always youthful drive and optimism that feeds the engine of progress?

The stories of Chain Store Age’s 2017 list of over-achievers under 40 abound with examples of young people from different disciplines who all discovered retail real estate as the perfect channel for their passions.

Vitamin Shoppe missed profit expectations for its first quarter, amid challenges with its Nutri-Force contact manufacturing division.    Vitamin Shoppe posted net income of $8.0 million for the quarter ended April 1, compared to $14.8 million in the same period last year.  Reported fully diluted earnings per share were $0.35 in first quarter 2017, compared to $0.59 in first quarter 2016.    

Want to stay ahead of the competition — or at least keep pace with it? Invest in a tech lab — or an accelerator.

With the pressure to innovate greater than ever, savvy retailers understand they can no longer wait for new solutions and technologies to be proven in the field. That’s why so many of them have invested in tech labs (aka “retail innovation labs”).

The free shipping wars seem to be heating up again.   In a posting on its website, Amazon said it has lowered its free shipping minimum for non-Prime members on eligible items to $25. Merchandise will be delivered in five to eight business days.   It’s the second time this year that Amazon has made it easier for shoppers to qualify for free shipping. In February, the online giant reduced its minimum order amount from $49 to $35.   

As retailers continue to navigate challenging conditions, they need to ensure their people strategies and pay programs are flexible and supportive, not ridged and dated. What follows are different approaches to working through some of the difficult, but necessary, steps to improving retail pay programs to fit the basic actions some retailers must now take.    Being Proactive Not Reactive

Office Depot’s profit in the first quarter more than doubled as its reduced store count led to lower operational costs.   The company's net income increased to $116 million, or 22 cents per share, in the quarter ended April 1, from $46 million, or 8 cents per share, in the year-ago period. Its results beat analysts’ expectations.  

Party City on Tuesday announced earnings and revenue that topped expectations, and said it would launch an online marketplace for party services.