Corporate Governance

Target retail tech accelerator alum makes good
One of the retail tech start-ups from the inaugural class of the Target + Techstars retail accelerator program is expanding.
Golf superstore retailer continues to expand
PGA Tour Superstore is betting on Las Vegas. The retailer has signed a lease to open its first store in the Las Vegas market, a 30,000-sq.-ft. space in downtown Summerlin. The location, expected to open later this year, is the company's 31st store. It will be staffed with PGA teaching professionals, have five state-of-the-art swing simulators, multiple practice hitting bays, an expansive putting green and a junior putting green along with an in-house club-making and repair facility.

Bed, Bath & Beyond in workforce reduction

The ax has fallen at Bed, Bath & Beyond as part of the realignment of its .store management structure. The retailer said it has initiated in approximately half of its U.S. Bed Bath & Beyond stores and about a dozen of its buybuy Baby stores a limited realignment of its store management organization that will result in the elimination of about 880 department and assistant store manager positions.
Amazon’s shoe business outpacing brick-and-mortar competitors

Amazon’s investments in the shoe business are paying off. While 2017 is not even close to over, it is shaping up to being a strong year for shoes on Amazon. The company has already experienced 18% growth year-over-year during the first two quarters, alone. For 2016, Amazon had a total of 35% year-over-year growth, according to a study by One Click Retail.
Phillips Edison acquires Bakersfield center

Phillips Edison has acquired another grocery-anchored center, this on in Bakersfield, California. Riverlakes Village is a 92,212-sq.-ft. neighborhood center anchored by Von’s Supermarket and augmented by a classic necessity-based mix of CVS, Verizon Wireless, Bank of America, Supercuts, Steak and Grape’s, and Chipotle. The center is 97% leased, according to broker CBRE, which did not disclose the sale price.
Saks to honor 80-year-old film icon (and her seven pals) for the holidays

Saks Fifth Avenue is partnering with Disney to celebrate the holidays. Saks' annual holiday window display at its New York City flagship on Fifth Avenue will be devoted to "Snow White and the Seven Dwarfs." The collaboration with Disney also includes special Disney-inspired fashion, accessories and giftable items created by premier designers and available across Saks' 41 stores in the U.S. and Canada, and Saks.com.
Specialty retailer strikes upbeat note

Party City topped earnings estimates for its second quarter and said it is on track to deliver its full year total revenue and earnings guidance. The party supplies retailer and wholesaler reported net income of $25.0 million in the quarter, compared to $22.5 million in the year-ago period. Earnings, adjusted for non-recurring costs, came to 28 cents per share, topping Wall Street expectations
Louisiana center changes hands

Kimco Realty has sold the Ambassador Plaza neighborhood center in Lafayette, Louisiana, to Westwood AC Properties for $5.3 million. According to Transwestern VP Fred Victor, who brokered the deal for Kimco, the property benefits greatly from being shadow-anchored by an Albertson’s grocery store. Ambassador Plaza boasts a wide variety of dining options, including Subway, Little Caesars, and Fruiti Smoothie.
Now Trending: Eight clicks-to-bricks retailers to keep an eye on

Digitally native retailers are infusing the retail industry with something it can always use: new blood. Here are eight interesting newcomers to the physical space: Away
Fast-fashion giant trying on vending machines

Uniqlo will be popping up at airports and malls across the nation — but not through retail storefronts. Putting a new spin on the term “fast fashion,” the Japanese retailer is launching 6-ft.-high vending machines that will enable customers to purchase T-shirts and lightweight down jackets, the Wall Street Journal reported. Merchandise is packaged in boxes and cans.
Report: Walmart well positioned for grocery battles

The arrival of German discount grocer Lidl and Amazon's purchase of Whole Foods Markets have ratcheted up the already intense grocery wars and put new pressure on existing players, including Walmart. But one analyst thinks the discounter is well-positioned for the battle.
Grocer serves up 13th consecutive quarter of same-store sales gains

Weis Markets saw its sales and income increase in its second quarter. The company’s net income in the quarter totaled $18.5 million, a 21% increase over the year-ago period. Operating income rose 15.2% to $27.7 million, compared with $24.1 million in the same period last year. Sales rose 20% to $876.6 million. Same-store sales rose 2.7%, after adjustment for the Easter holiday shift.