Strategy

The Lone Star State is going to get its fourth Ikea.

The City Council of Grand Prairie, Texas, has approved Ikea’s plans to build a second store in the Dallas-Fort Worth-area. Pending remaining approvals and permits, construction of Ikea Grand Prairie could begin fall 2016, with an opening in fall 2017. It will be the company’s fourth store in the state of Texas.

Supervalu’s Cub Foods division reimagined a former Kmart location in central Minnesota for a new format featuring a massive liquor store.

With the financial picture improving modestly at Toys “R” Us, CEO David Brandon said the company is ready to build on third quarter successes during the final days of the holiday season.

I remember something a retailer once said to me more than 25 years ago, long before digital mattered. It’s still true today: if the product’s not right, nothing matters. If the product is right, everything matters. That everything now includes staying ahead of the consumer digitally. We’ve gone from a generation that saw technology as a skill, to one that doesn’t see it at all – it’s so natural it's become instinct. This shopper lives in a world where digital doesn’t just define shopping habits - it defines the way they live.

The value proposition of Perfumania stores is under scrutiny after the retailer reported dismal same store sale for the third quarter.

For the 13-week period ended Oct. 31, net sales at Perfumania decreased 8% to $142 million, compared to $154.3 million in the prior year. Same-store sales decreased 22.1%. Net income was $3 million, or net income per diluted share of 20 cents, compared to a net income of $7.5 million, or a net income per diluted share of 48 cents during last year’s third quarter.

Lillian Vernon, who grew a home business selling monogrammed pocketbooks and belts, into one of America's best-known mail-order businesses, died on Monday. She was 88.

Vernon and her family came to the United States in 1937 as Jewish immigrants from Germany fleeing Hitler. She was newly married and pregnant with her first child when she started her business in 1951.

The Lillian Vernon Corp. was the first company owned by a woman to be listed on the American Stock Exchange, in 1987, according to the New York Times.

With the financial picture improving modestly at Toys “R” Us, CEO Dave Brandon said the company is ready to build on third quarter successes during the final days of the holiday season.