Strategy

Neiman Marcus is taking omnichannel retailing to a whole new level by integrating payment technology into its already successful store app.

The NM Mobile Wallet is the first deployment of a mobile wallet capability created specifically for a retail card partner, enabling customers to quickly and easily make in-store purchases at Neiman Marcus Group stores without their physical credit card. Consumers can enjoy this simplified payment function with transaction authorization and information technology supported by Capital One.

San Jose, Calif. – Almost all retail IT decision-makers feel vulnerable to insider data security threats. According to the 2015 Insider Threat Report from enterprise data security provider Vormetric, 93% of U.S. retail respondents reported they were "somewhat" or more vulnerable to insider threats.

Expense from a pension settlement and higher selling, general and administrative costs drove Havertys into the red for the fourth quarter of fiscal 2014.

Minneapolis – Target Corp. reportedly thinks having a range of organic products matters. According to the Minneapolis Star-Tribune, Target has selected 31 new brands to participate in the second year of its “Made to Matter” program, which promotes new sustainable, organic and natural goods.

Boca Raton, Fla. – Office Depot Inc. is seeing some fiscal benefits from its November 2013 merger with OfficeMax. The retailer shrank its net loss in fourth quarter 2014 to $84 million, from $120 million in the same quarter the prior year.

Net sales climbed 10% to $3.83 billion, from $3.49 billion.

If we wanted to show the struggles of the classic American mall, I don’t think we could come up with a better example than Northland Mall in Southfield, Michigan. When it opened in 1954, Northland was an instant hit: an icon not only for the region, but for the nation. One of the first and largest open air centers in the nation, Northland was enclosed in 1974 and today boasts space for 96 stores and nearly 1.5 million sq. ft. of retail.

New York -- American Express has officially launched its Small Merchant EMV Assistance Program, which was announced last October by President Obama. The nationwide campaign was created to help U.S. small merchants fight fraud through a $10 million reimbursement program designed to accelerate adoption of EMV payment terminals. It will also arm small merchants with knowledge about EMV’s security benefits.

As Macy’s undergoes aggressive changes to better compete in an omnichannel retailing world, the company reported a decline in profit for the fourth quarter.

For the quarter ended Jan. 31, profit fell to $793 million from $811 million. Per-share earnings were $2.26 a share, up from $2.16 a share a year earlier. Same store sales grew 1.7% Revenue increased 1.8% to $9.36 billion.