Strategy

Two technology trends stood out above all others at this week’s NRF Annual Convention. First, retailers are becoming aware that omnichannel inventory transparency is the back-end platform supporting the front-end seamless customer experience they have been building the past few years. Being able to see all inventory across all channels in real time is the key to enabling omnichannel processes such as shipping and fulfilling from store, centrally managing orders from multiple sales channels, providing “endless aisle” access to full inventory.

Seattle -- Nordstrom announced plans to open a Nordstrom Rack, at Chapel Hills East in Colorado Springs, Colorado, and one at Destiny USA mall in Syracuse, New York.

The 33,357-sq.-ft. Destiny Mall location is scheduled to open in fall 2015. The retailer recently announced new Rack stores opening in Buffalo and Albany, also in fall 2015.

The 31,203-sq.-ft. Chapel Hills East Nordstrom is scheduled to open in spring 2016. The property is owned and managed by DDR Corp.

Location analytics solutions provider Esri is helping BJ’s Wholesale Club generate actionable business insights from club location data.

BJ’s use of Esri’s solutions was announced in conjunction with the National Retail Federation’s Big Show in New York. More specifically, BJ’s will use Esri’s location analytics solutions to aid in real estate research strategy and business insight analysis.

Camp Hill, Pa. - Rite Aid Corp. has increased its borrowing capacity to $3 billion as part of a refinancing of an 8% senior secured notes that are now due in January 2020. Borrowing capacity will increase to $3.7 billion when the notes are paid.

Rite Aid expects, at current rates, to save approximately $20 million in annual interest expense, based on a $3 billion facility, and approximately $50 million in annual interest expense, based on a $3.7 billion facility and the redemption of the notes.

Etsy, an e-marketplace that specializes in crafts and other artsy items, plans to hold an initial public offering as soon as this quarter, according to Bloomberg.

The decade-old company may seek to raise about $300 million, Bloomberg says, and is working with Goldman Sachs and Morgan Stanley.

New York – Even when retailers achieve compliance with the Payment Card Industry (PCI) Data Security Standard, they often fail to maintain it. According to the upcoming 2015 PCI Report from Verizon Enterprise Solutions, fewer than one-third of retailers studied were still PCI-compliant less than one year after being validated.

In addition to educating attendees about the charitable activities of Retail ROI and presenting a heartfelt session from Katie Meyler, founder of Liberian non-profit More Than Me and a 2014 Time Person of the Year for her Ebola prevention efforts, this year’s Super Saturday event in New York focused squarely on customer experience. A variety of industry experts across a range of panel discussions all returned to the crucial need for technology-enabled, seamless customer experience.

Staples didn’t have a great year, so Chairman and CEO Ron Sargent won’t accept a $31,000 base pay raise the board of directors had previously approved.

The company announced that Sargent would not accept the 2.5% pay increase, along with several noteworthy governance moves, including the appointment of an independent chair when Sargent retires.

In other board moves, current director and former Toys “R” Us CEO Robert Nakasone is relinquishing his seat to make room for a Google executive.