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Strategy

  • German retailers partner with Shopkick

    Berlin, Germany –- Five leading German retailers are partnering with U.S. shopping app Shopkick. At launch, Shopkick’s German network is comprised of more than 1,400 stores: all Douglas (largest beauty retailer in Germany), Media Markt and Saturn (together the largest consumer electronics retail chain in Germany), OBI (one of the largest do-it-yourself retailers in Germany) and Karstadt (one of the largest department stores in Germany) locations.

  • Snagajob: Seasonal retail workers average $10.30 per hour

    Richmond, Va. -- Employers in the hospitality industry will pay the highest average wage for holiday employees at $11.80 per hour, followed by retail at $10.30, and food service at $9.40, according to a survey by Snagajob, which provides recruitment and hiring solutions to the hourly industry.  

  • Tesco chair to step down as net income plummets below estimates

    Cheshunt, U.K. –- Sir Richard Broadbent, chairman of Tesco PLC, will step down in the wake of a 99% drop in net income for the first half of fiscal 2014. Tesco reported first half profits of $9.6 million, about $333 million less than previous estimates.  

  • Cabela’s misses on Q3 results, to open 13-15 stores annually going forward

    Sidney, Neb. –- Cabela’s Inc. missed Wall Street estimates for earnings and revenue in the third quarter of fiscal 2014. Net income rose 8% to $53.8 million from $49.9 million, dampened by provisions for income taxes.   The retailer said it plans to open 13-15 stores per year for the next several years.  

  • Cypress Equities acquires Corner Shopping Center

    Dallas -- Cypress Equities companies announced that its affiliated Cypress Acquisition Partners Retail Fund has closed on the acquisition of The Corner Shopping Center in Dallas. The project is a community shopping center, located on the northeast corner of Walnut Hill and the US-75 Central Expressway.   

  • Vaughan Mills opens 50-store expansion

    Toronto, Canada - An $87 million, 200,000-sq.-ft., 50-store expansion has been opened to the public at Vaughan Mills Shopping Centre, operated by Ivanhoe Cambridge. The expansion on the east side of the property features an Event Court, a digital lounge and a Sport Neighborhood.   

  • Gap continues global expansion with first Old Navy stores in the Middle East

    San Francisco -- Gap Inc. announced it has signed agreements to open Old Navy stores in six Middle Eastern countries with franchisees Fawaz A. Alhokair & Co. and Azadea beginning spring 2015. The first markets include U.A.E., Kuwait, Qatar and Saudi Arabia.   This is the second franchise market expansion for Old Navy. In March of this year, the brand opened its first franchise-operated stores in the Philippines.   

  • Amazon Q3 loss widens to $437 million; sales up 20% to $20.58 billion

    Seattle -- The red ink got worse at Amazon in its third quarter as the Internet giant reported a net loss of $437 million in the third quarter, worse than analysts expected, compared with a net loss of $41 million in the year-ago period.  
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