Strategy

Phoenix — Vestar announced the signing of Forever 21’s newest concept store, F21 red, at Tempe Marketplace, in Tempe, Ariz. The 1,000-sq.-ft. store, the first F21 in Arizona, will open this fall.

The F21 red brand will offer a larger merchandise selection and lower prices of the trendy fashion forward styles for young men and women than the typical Forever 21 store.

New York — Gap stores have failed to keep up with the fashion tastes of millennial shoppers, who have a much different fashion sense than the generation before them, according to the Washington Post. Read the full story here.

Shopko is continuing on its growth path with the opening of 15 new Shopko Hometown stores across eight states this July.

The new locations join 20 stores Shopko already opened earlier this year and more than 15 additional stores the company plans to open in October.

Green Bay, Wisc. — Shopko continues to expand, with the opening of 15 Shopko Hometown stores across eight states this July.  The  new locations join 20 stores Shopko opened earlier this year and more than 15 additional stores the company plans to open in October.  

Generation Y prefers to shop at Walmart over Target, Costco, Kroger, Whole Foods, and Trader Joe’s, according to Ad Age.

"Millennials now, as a generation, like Walmart the best, more so than Generation X, more so than boomers," Matt Kistler, Walmart’s senior VP-consumer insights and analytics, said.

Walmart is most popular among people under 24, as well as every store but Target among 25- to 34-year-olds, according to InfoScout, a provider of shopper insights with a nationwide panel of more than 170,000 shoppers.

As retailers race to make their gift registry services more interactive, Belk is launching a new wedding registry app.

In addition to in-store kiosks, registrants can now set up a registry, manage their registry and scan items using their smartphones.

The app features tips on what to register for and a registry checklist to make sure no items are missed. Any time a registrant is in the store and sees a new item they would like to add, they can scan from their smart phone to immediately add the item to their registry.

Toano, Va. – The executive shakeup continues at Lumber Liquidators as the company integrates the leadership of its merchandising and marketing departments. Marco Q. Pescara, the company's chief marketing officer since 2006, has been promoted to serve as chief merchandising and marketing officer effective June 19.

Pescara will lead the company's marketing and merchandising functions. The employment of William K. Schlegel, current chief merchandising officer, will be terminated effective June 19.

Philadelphia — The Pep Boys: Manny, Moe & Jack named Hertz Corp. veteran Scott P. Sider, 54, as its new CEO, effective June 15. He most recently served as group president of Hertz Corporation’s largest division, Rent A Car Americas, with over 3,200 locations.

The announcement comes more than eight months after Pep Boys CEO Michael Odell resigned on the heels of disappointing second quarter earnings.