Strategy

At analyst and investor conference, the retailer says it will expand its home improvement reach.   Lowe’s CEO Robert Niblock kicked off his presentation at the chain’s analyst and investor conference with the phrase: “To help people love where they live.”  

Michaels came up short in the third quarter, posting earnings and revenue that missed analysts’ forecasts.   The art and craft retailer reported third-quarter adjusted earnings of 40 cents per diluted share, missing analysts' estimates of 43 cents per share.   Net sales increased 5.0% to $1.227 billion, primarily a result of the acquisition of Lamrite West in February 2016 and sales from 19 additional stores.  

In a move that is likely to help it attract new talent — and hold on to existing employees — Ikea U.S. has announced one of the most generous and inclusive parental leave programs in the U.S. retail industry.    Effective Jan. 1, Ikea will provide all its 13,000 U.S. salaried and hourly employees who are expanding their families — including mothers, fathers and adoptive and foster parents — with up to four months of paid parental leave.  

The Kroger Co. has tapped a tech veteran as its next chief digital officer.   The supermarket giant announced that 15-year-veteran Kevin Dougherty, 63, group VP and chief digital officer, will retire on Jan. 27, 2017. He will be succeeded by Yael Cosset, 43, chief commercial officer and chief information officer of 84.51.     

The Home Depot Mexico is one step closer to delivering on its promise "to provide the highest level of service, the broadest selection of products and the most competitive prices.”  

On Monday, Amazon announced the launch of Amazon Go, a checkout-free convenience store in Seattle. The 1,800-sq.-ft. store is powered by what Amazon calls “just walkout technology,” which combines computer vision, sensor fusion and deep learning technologies. Currently open only to Amazon employees, Amazon Go expected to open to the public in 2017.  

It’s official. Supervalu has finalized the sale of its discount supermarket business, Save-A-Lot, to an affiliate of Onex Corporation for $1.365 billion in cash.   In connection with the closing of the sale, Supervalu and Save-A-Lot have entered into a five-year professional services agreement whereby Supervalu will continue providing certain back office services to Save-A-Lot.  

Gordmans Stores named Ramin Mozafari as senior VP of planning and allocation.   Mozafari joins Gordmans from Kohl's Department Stores, where he most recently was senior VP, divisional merchandise manager for accessories. Prior to Kohl's, from 2008 to 2012, he served DSW, where he held various merchandising roles including VP, general merchandise manager.