Strategy

A familiar U.S. retailer will soon make its exit from the U.K. retail scene.    Staples, which operates some 105 stores in the United Kingdom, has agreed to sell its U.K. retail business and operations to Hilco Capital Limited. The use of the Staples brand in the U.K. will be phased out over the coming months.   In May, Staples announced plans to explore strategic alternatives for its European operations as part of its new strategy.  

Street closings and protests related to the election of Donald Trump are severely impacting retail traffic on the priciest retail corridor in the world.   Tiffany & Co., Abercrombie & Fitch, Henri Bendel, Polo Ralph Lauren and other retailers on Fifth Avenue are all being affected, according to the Associated Press.  

Nicole Beck, a skilled project management specialist, has joined H.J. Martin and Son as a project coordinator within the company’s fixtures division. In that role, she oversees the installation of functional, appealing solutions for retailers.  

PetSmart continues to expand its brick-and-mortar presence across North America.   The company has opened 1,500th store, in Sheridan, Colorado. The location is one of approximately 80 new stores the pet specialty retailer is opening in 2016 in new markets as well as in convenient locations in current markets.   

Sales were up in the third quarter, but Lowe’s Companies’ financial performance impressed neither its investors nor its CEO.   The home improvement retailer’s net income dropped dramatically, owing to $462 million non-cash pre-tax charges. Net income declined to $379 million, compared to $736 million in the same quarter last year.  

It’s an odd partnership — at least at first glance.   Neiman Marcus has entered into a partnership with Rent the Runway, which lets shoppers rent pricey designer dresses as opposed to buying them (at a luxe store like Neiman Marcus).       

Improving traffic and sales, particularly in the digital channel, helped Target Corp. easily beat third-quarter profit expectations as the discounter raised its year-end outlook.    Target’s profit increased 10.7% to $608 million, or $1.07 cents a share, up from $549 million, or 88 cents a share, in the year-ago period. Adjusted for one-time expenses, it earned $1.04 cents a share, which was better than the 83 cents analysts had expected.  

Encina Business Credit, has provided a $30 million debtor-in-possession (DIP) facility to American Apparel, which recently filed for Chapter 11 bankruptcy protection.