Strategy

Amazon once again takes the lead in disruptive news with reports it will open its first-ever physical store in New York City on West 34th Street, across from the Empire State Building and down the street from the iconic Macy’s flagship store. Even more than for its impressive location, the store is notable as the ultimate symbol of the continuing primacy of brick-and-mortar in the omnichannel environment.

 

Coppell, Texas -- Alco Stores Inc. on Sunday filed for Chapter 11 bankruptcy, with plans to liquidate or sell the business.    The 113-year-old retailer and its subsidiary, Alco Holdings Ltd Liability Co., filed voluntary petitions for relief in the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division.  It listed assets of $221.7 million and debt of $161.6 million.  

Seattle -- Nordstrom on Friday opened the doors to its first store in Northeast Florida, at St. Johns Town Center in Jacksonville. "We're thrilled to open our first full-line store at such an outstanding mall as St. Johns Town Center," said Brandy Jefferson, Nordstrom St. Johns Town Center store manager.   

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Indianapolis – Lids Sports Group has acquired Jersey City Canada, a licensed sports apparel, headwear and novelty company operating 28 stores across four Canadian provinces. In addition, the acquisition includes nine headwear-only Capz stores, and two websites.  

New York -- For the second year in a row, Apple ranks as the most valuable brand in the world, followed by Google, on Interbrand’s 15th annual Best Global Brands Report. Apple was valued at $118.9 billion, up 21% over last year, while Google was valued at $107.43 billion, up 15%. Rounding out the top five were Coca-Cola, IBM and Microsoft. It was the first time in the history of the Best Global Brands report that two global brands – not just one – had a brand value that exceeded $100 billion.

Edina, Minn. – Payment systems at 395 Dairy Queen stores and one Orange Julius store across the U.S. have been hit by a cyber attack that exposed payment card customer names, numbers and expiration dates. The company has no evidence that other customer personal information, such as Social Security numbers, PINs or email addresses, was compromised as a result of this malware infection.   

Salt Lake City – Overstock.com is building a new corporate campus, referred to as the "Peace Coliseum," which is anticipated to open during summer 2016. Overstock officials have said that from the ground level, the building will look like a corporate glass-and-concrete version of the Roman Coliseum, but from the air, the three-story building will appear as a peace sign.