Strategy

The bankruptcy of South Korean shipping giant Hanjin Shipping is forcing retail chains to spend lots of extra cash to get their goods through ports to warehouses in time for the holiday shopping season, the Los Angeles Times reported.   

Steadily climbing consumer confidence and retail sales growth have U.S. retail chief marketing officers feeling optimistic ahead of this holiday season.

Watch out Hallmark. A popular British greeting card  and stationery brand has designs on the U.S. market.   Paperchase is planning to open two freestanding stores in the United States next year, both in Chicago, The Telegraph reported.         Currently, the brand supplies Target and Staples with private-label greeting cards.      

Chain Store Age will sponsor a webinar on one of the most important issues facing store retailers: How to give frontline store associates the critical knowledge they need to drive sales and customer satisfaction.     

Strong results in its PBM business provided a boost during CVS Health’s fiscal third quarter, with the retailer reporting a 23.6% increase in net earnings to $1.5 billion.   Revenue increased 15.5% to $6 billion for the period ended Sept. 30.   

L.L. Bean has opened its first store in Cincinnati, at The Kenwood Collection mixed-use center.   The 15,000-sq.-ft. store includes an outpost of the Freeport, Maine-based retailer’s Outdoor Discovery School, which offer demonstrations, clinics and introductory hands-on activities like snowshoeing, kayaking, stand-up paddleboarding, archery and fly casting.  

The Woodmont Company has hired Pendleton Mills real estate executive John Geddis to handle leasing at the firm’s growing outlet center portfolio. His title will be senior VP of brokerage services.   Geddis gained extensive experience on both the owner and tenant sides of the business in a 20-year career, with stints at Simon Property Group and General Growth Properties, as well as Samsonite. At Pendeton, he oversaw development for the company’s 50 owned retail and outlet locations.  

Black Friday weekend is just around the corner. But as retailers remained focused on one-day sales, exclusive sneak peeks and door busters, they are missing the boat on a much more lucrative opportunity — Singles’ Day.