Strategy

PetSmart acquires fast-growing online rival
PetSmart has beefed up its digital offerings with the acquisition of the leading online retailer of pet food and products. The chain said it has entered into a definitive agreement to acquire Chewy, which was founded in 2011 and offers a wide selection of products for pets, ranging from cats and dogs to horses. The acquisition is expected to close by the end of PetSmart’s second fiscal quarter of 2017.

Look for more stores-within-stores

Stores-within-stores have been prevalent in Europe and Asia for years, and while they’ve been in play for decades in the U.S. (think perfume counters in Macy’s), all indications call for much wider adoption here in the years ahead. Already, the concept has branched into new combinations. Apparel shops within supermarkets, electronics boutiques in department stores, and branded sections of sporting-goods stores are some commonly seen examples.

Luxury department store retailer takes on more debt

Neiman Marcus’ debt burden just got heavier. The luxury retailer will make interest payments over the next six months with new debt to preserve its cash and bank line of credit. Instead of making a current $29 million cash interest payment on $600 million notes due in 2021Neiman Marcus will issue more bonds to holders to cover the 9.5% interest, the Dallas News reported.
Curation comes to fine cuisine in New York City

Time was in New York City that new restaurants sprang up in the ground floors of old brownstones in Midtown or tenement buildings in Greewich Village and were deemed worthy or not by the demanding standards of Manhattanites. Not so in New York’s newest neighborhood.
Citibank exec joins Walmart’s digital team

Walmart has appointed Rahul Joshi as senior VP, customer care, U.S. eCommerce, effective immediately. Joshi joins the discounter after more than 25 years at Citibank, most re-cently as the head of consumer operations in Asia, where he successfully led customer-focused teams. He reports to Marc Lore, president & CEO, Walmart U.S. eCommerce.
Crate & Barrel CEO out

The chief executive of Crate & Barrel is out after less than two years at the top. Doug Diemoz left the home furnishings retailer last week. Most of his responsibilities will be taken over by Neela Montgomery, board chair of Otto Group, the privately owned German company that owns Crate & Barrel, according to Crain’s Chicago Business.
Walmart in milestone opening

Walmart hit the century mark in terms of training academies. The retailer on Monday celebrated the grand opening of its 100th U.S. training academy, in Frontage, Edmond. The academies were first introduced in 2016 and have expanded to 40 states.
Bobbi Brown opening lifestyle shop

Lord & Taylor has entered into a partnership with make-up icon Bobbi Brown. The department store retailer appointed Brown as creative consultant, and has launched an in-store shop concept, justBobbi, at select Lord & Taylor locations, including its Manhattan flagship, and online. The initiative is the first Brown has entered into since her recent departure from Bobbi Brown Cosmetics, which she founded in 1991.
Report: BJ’s up for sale — and being eyed by Amazon

A potential acquisition could give Amazon some leverage as it expands its brick-and-mortar presence. BJ’s Wholesale Club is putting itself up for sale, and Amazon has expressed modest internal interest in the chain, according to The New York Post. BJ’s, which was once a public company, was bought for $2.8 billion by private equity firms Leonard Green & Partners and CVC Capital Partners in 2011.
Cabela's revises deal with Bass Pro

Bass Pro Shops has lowered its bid for Cabela’s. Under the amended merger agreement, Bass Pro will acquire Cabela’s for $61.50 per share in cash for a total deal value of approximately $5.0 bil-lion. On October 3, 2016, Bass Pro has agreed to pay $65.50 per share in cash for Cabela’s in a deal valued at $5.5 billion.