Strategy

Some two decades ago Times Square underwent a radical transformation from New York City’s sin center to its version of Disneyland, a magnet of bright lights of wholesome fare that has become a must-stop for all tourists.  

In keeping with its fast-paced growth, Petco is starting the new year by celebrating the grand re-opening of 14 remodeled stores in Los Angeles.    Last year, Petco expanded its retail presence nationwide by opening 71 new stores and one new Unleashed by Petco store, remodeling 41 stores and expanding five stores.     Fourteen Petco stores will celebrate grand re-openings on Jan. 13-15.  

Chinese e-commerce giant Alibaba is making a play for a department store and mall operator in China.   The company made a $2.6 billion bid for Intime Retail, with a plan to take it private, reported the New York Times. Alibaba already owns a 28% stake in the company, which operates 29 department stores and 17 shopping malls in China, mainly in first- and second-tier cities.  

Wal-Mart Stores is reportedly planning a major round of job layoffs by the end of this month.   The retailer will eliminate positions at its headquarters and among regional personnel that support stores, the Wall Street Journal reported.  

Nordstrom has added the title of chief innovation officer to its executive team.   The department store retailer named company veteran Geevy Thomas to the new position. Thomas, who most recently served as president of Nordstrom Rack, brings 34 years of experience in all areas of Nordstrom to this role, beginning as a salesperson and then moving into store, regional and buying management roles.   

With so many new beauty products hitting the marketplace, Sephora needs to ensure it is offering the right product mix to its loyal shoppers.   Sephora offers 14,000 products from 200 carefully curated brands. Yet, new cosmetic innovations continue to be introduced on a seemingly daily basis. By adopting a new online platform, Sephora can streamline product discovery and its buying efforts.  

The founder of Rent-A-Center has returned to lead the company while it looks for a new CEO.   The nation's largest rent-to-own operator said that Robert D. Davis has resigned as CEO and director, effective immediately. A 23-year company veteran, Davis was named CEO in February 2014 after holding a variety of management positions.  

Hudson's Bay Co. is the latest department store retailer to report weak holiday sales.   The Canadian retailer, whose banners include Hudson’s Bay, Saks Fifth Avenue and Lord & Taylor, reported a 0.7% decrease in consolidated comparable sales in the nine-week holiday selling period that ended Dec. 31.