Strategy

Wasn’t Best Buy supposed to be out of business by now? Instead, the company has shown itself to be one of the retail industry’s most resilient operators, achieving growth in the face of intense competition and deteriorating demand for once hot product categories like tablets.

Not that long ago Best Buy was at risk of becoming irrelevant, a victim of showrooming and competitive forces, headed for a fate similar to RadioShack. Instead, as evidenced by its fourth quarter results, Best Buy is practically thriving against some still challenging circumstances.

New York -- Retailers in the United States are taking a huge risk by underestimating the buying power of the over-50 generation, according to a new report by the Fung Business Intelligence Centre.
 
The study, “A Booming Opportunity: Profiling from a Graying America,” finds that the aging Baby Boomers will continue to be a growing consumer market for the next 20 years.

Austin, Texas – Whole Foods Market is bringing fresh food to the people of Portland, Oregon, through its My Street Grocery program. Operating from a refurbished classic trolley car, My Street Grocery is a mobile grocer that travels to neighborhoods throughout the Portland metro area and is focused on improving fresh food access and building community.

New York – The elimination of a one-time adverse legal ruling helped Tiffany & Co. swing from loss to profit in the fourth quarter of fiscal 2014, but a strengthening dollar hurt overall sales. Tiffany reported net earnings of $196 million, compared to a net loss of $104 million the same period a year earlier.

However, worldwide net sales of $1.28 billion were down 1% from $1.3 billion, with the stronger U.S. dollar negatively impacting foreign sales results. Same-store sales dropped 4%.

Cost-cutting efforts ongoing at Toys “R” Us Inc. helped the retailer report a profit in the fourth quarter.

Overall, for the fourth quarter ended Jan. 31, Toys “R” Us reported a profit of $265 million, compared with a year-earlier loss of $210 million.

New York -- Amazon.com has received preliminary approval from the Federal Aviation Administration to test drone delivery. Although consumers should not expect packages to be dropped on their porches by buzzing unmanned aircraft anytime soon, just getting the OK to test the devices is regarded as a big win for the online retail giant.

Hoffman Estates, Ill. – Sears Holding Corp. expects to form a real estate investment trust (REIT) within a few months and sees nothing wrong with paying vendors early. In a public blog post, Rob Schrieshiem, executive VP and CFO of Sears, said the company expects to form an REIT to purchase between 200 and 300 stores by June 1, 2015.

Time may be running out for Toys "R" Us shoppers to ride the Ferris wheel at the retailer's flagship store in Time Square.

Toys "R" Us will not be renewing the lease of its Manhattan flagship, according to various reports. The lease for the massive 110,000-sq.-ft. retail space, at 1514 -1530 Broadway, between 44th and 45th Streets, is set to expire at the end of January.