Strategy

New York -- A Wednesday report by the Wall Street Journal said that big retailers such as Wal-Mart Stores, Target Corp. and 7-Eleven are planning to develop a mobile payment network much like the Starbucks Square initiative that was announced last week.

Framingham, Mass. -- Staples reported Wednesday that profit for the quarter ended July 28 plummeted 32% to $120.4 million from $176.4 million, prompting the office supply retailer to cut its full-year guidance.

Soft sales and slowed traffic in North America sent total revenue downward 6% to $5.5 billion; North American retail sales slipped 3%. Same-store sales declined 2%. Sales abroad fell 18%.

Toronto -- Sears Canada reported Wednesday a loss of $9.8 million in the second quarter, widened from a loss of $200,000 in the year-ago period.

Revenue fell 8.5% to $1.050 billion, from $1.148 billion. Same-store sales dropped 7.1%.

The retailer attributed much of the problem to warm, dry weather in many areas of Canada, which impacted sales of outdoor power equipment.

Indianapolis -- The Finish Line announced Wednesday it has named Greg Beidler as senior VP store operations for the chain.

Beidler was previously regional operations director for Sam’s Club/Wal-Mart Corp., and has served in management roles for GameStop, Brown Shoe, Circuit City and Athlete’s Foot.

Richardson, Texas -- Fossil said Wednesday it has appointed John White to the position of executive VP and COO, effective Sept. 4.

White, formerly president of Pandora North America, will be responsible for the company's supply chain, distribution and warehousing, legal and information technology operations.

 

Gouverneur, N.Y. -- Regional player Kinney Drugs has snapped up four independent pharmacies located in central New York and Vermont, bringing its total store count to 94.

Financial terms of the deal were not disclosed.


Don’t let the grocery sector shake-ups fool you.

While there are individual failures, the category as a whole continues to find favor among developers that place a premium on having a traffic magnet in their shopping centers.

Last June, two organizations — Retail Industry Leaders Association and International Council of Shopping Centers — co-sponsored a sustainability initiative that ultimately would set the bar for landlord/tenant partnerships.

The last 14 months haven’t been without bumps. Forging positive, mutually beneficial programs that involve cooperation from shopping center owners and their retail tenants has long been one of this industry’s greatest — and most frustrating — challenges.

Winter is fast approaching — is your facility ready? Statistically speaking nearly 80% of all slip and falls are due to snow and ice, and they occur mainly in parking lots and sidewalks. As an expert witness and consultant in the field of risk and liability due to snow and ice, I see incidences that could have been avoided had the facility performed a pre-season property assessment.

Michaels Stores is taking its energy conservation efforts to the next level. The arts and crafts retailer has rolled out several advanced extensions to its energy management system. The extensions are expected to bring Michaels’ total EMS-related savings to more than 30%.