Strategy

Macy’s Chairman and CEO Terry Lundgren offered plenty of reasons why the company’s first quarter sales were worse than expected – but also noted the confluence of factors that caused the disappointing results are largely behind the company.

Bentonville, Ark. – Wal-Mart Stores Inc. is partnering with the Alipay payment services subsidiary of Alibaba Holding Group to offer a new mobile payment option in some Chinese Wal-Mart locations. Customers at 25 Wal-Mart stores in the Chinese city of Shenzhen in southern China are now able to use the Alipay mobile wallet to pay for purchases.

London – U.K. home and garden retailer Homebase is using IBM Commerce to provide more personalized shopping experiences by integrating in-store, online and mobile channels.

As a result, Homebase has achieved double-digit sales growth in all digital sales channels and a 30% increase in online visitors. With more than 40% of its customers now visiting online, Homebase collaborated with IBM to help redesign how its digital channels could offer more help, advice and inspiration.

Secaucus, N.J. – The Children’s Place Inc. and a group of dissatisfied activist Children’s Place investors, called Shareholders for Change at the Children’s Place, have exchanged accusations in a pair of open letters to shareholders. The retailer struck first with a letter supporting the election of its three independent board nominees, including chairman Norman Matthews, at the upcoming May 22 annual meeting.

The owner of Corner Bakery, Arby’s and Batteries Plus, among other national retailers, has acquired Pet Supermarket.

Atlanta-based private equity firm Roark Capital Group says Pet Supermarket will remain headquartered in Sunrise, Fla., and continue to be led by CEO Diane Holtz. Pet Supermarket operates 155 pet specialty retail stores in 11 states generating over $300 million of revenue.

Cincinnati -- Bad weather, decreased spending by international tourists  due to the strong U.S. dollar and delayed merchandise shipments from the West Coast port slowdown all contributed to Macy’s missing Wall Street projections for profit and revenue in the first quarter of fiscal 2015. Net income fell 13% to $193 million, from $224 million in the same quarter a year earlier.

Net sales dropped about 1% to $6.23 million, from $6.28 million. Same-store sales declined 0.7%.

Sunrise, Fla. -- Roark Capital Group, an Atlanta-based private equity firm focused on consumer brands, said that that its affiliate has acquired pet specialty retailer Pet Supermarket from Charles E. West, Jr., the company's founder. Pet Supermarket will remain headquartered in Sunrise, Florida, and continue to be led by Diane Holtz, its CEO.

Pet Supermarket operates 155 pet specialty retail stores in 11 states generating over $300 million of revenue.  

Staples is accelerating its pursuit of growth opportunities abroad even as the company awaits regulatory approval of a proposed merger with Office Depot.

Staples has announced a partnership with Bidvest Waltons, South Africa’s leading office products company, and Dacris, a major distributor of office supplies in Romania.