Corporate Governance

Amazon’s Prime Now Singapore launch hits a snag
Amazon’s Prime Now debut in Singapore started off strong, but high user volume took a toll on the program’s first day of service. The service, which offers free two-hour delivery on tens of thousands of items ordered through the Prime Now app, launched on Thursday morning. By that afternoon, users struggled to use the service, according to CNBC.
Nordstrom sweetens terms to attract potential equity partners
Nordstrom is offering a deal to potential equity partners willing to fund a buyout. The group of Nordstrom Inc. family members seeking to take the luxury department store chain private is offering preferential terms to potential equity partners willing to fund the buyout, according to Reuters. The group involved in the negotiations are company co-presidents Blake W. Nordstrom, Peter E. Nordstrom, and Erik B. Nordstrom; president of stores James F. Nordstrom; chairman emeritus Bruce A. Nordstrom; and Anne E. Gittinger.

Department store chain improves inventory accuracy with RFID

The Bon-Ton Stores is speeding up how it restocks merchandise. The department store chain is replacing its manual, paper-based restocking process with a radio frequency identification (RFID)-based system. The solution, from Zebra, enables store associates to fully restock merchandise displays in a fraction of the time — a move that increases productivity and enables associates to spend more time servicing shoppers.
Staples is one step closer to being acquired

Staples met the first requirement on its road back to private ownership. The office supplies giant, which is being acquired by private equity firm Sycamore Partners, has been granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. This act states that no merger or acquisition can take place until the United States Federal Trade Commission and Department of Justice have determined that the filed transaction will not violate U.S. commerce antitrust laws.
NRF continues to lobby for healthcare improvements

Despite the failure of a “skinny” repeal healthcare bill in the Senate, the National Retail Federation remains committed to fixing the Affordable Care Act.
Amazon still exploring ‘cashier-less’ checkout projects

Don’t expect Amazon to stop experimenting with cashier-less grocery stores anytime soon. Despite announcing in June it would acquire Whole Foods Market for $13.7 billion, the online giant will continue evolving its Amazon Fresh and Amazon Go concepts, among other efforts. Its goal: to reinvent the way consumers shop for food, according to Business Insider.
Online giant to open robotics-based facility in Michigan

Amazon is expanding its distribution fleet in the Wolverine state in a big way. The online giant plans to open an 855,000-sq.-ft. fulfillment center in Romulus, Michigan — it’s second in the state. The facility will create more than 1,500 new full-time associate roles. Associates will pick, pack, and ship smaller customer items, such as books, electronics and toys. However, these tasks will be streamlined by technology from Amazon Robotics, a wholly-owned subsidiary of Amazon.com.
GNC’s profits fall in Q2

Despite online and in-store transaction growth, GNC’s income and revenue declined in the second quarter.
Home goods retailer enters new international territory

Williams-Sonoma is making its debut in South Korea. By entering into a strategic franchise agreement with home goods retailer Hyundai Livart Furniture, Williams-Sonoma opened a combined Pottery Barn and Pottery Barn Kids store, as well as a West Elm store in South Korea’s Hyundai City Mall Garden 5. A Williams Sonoma location opened at Hyundai Department store Mokdong. These are the first of 30 stores that Williams-Sonoma plans to open across the country over the next 10 years, according to the retailer.
Lidl Makes Its Move on America

Churchill and the RAF weren’t available to head off this German invasion. The proliferation of German discount grocers Aldi and Lidl in the U.K. over the past decade carved out a new battlefield for Tesco, Sainsbury’s, Asda, and Morrisons, and they are still mired in the mud. Second-quarter results released by market researcher Kantar showed the Germans growing 19% over last year, while the British Big Four edged up less than 2%.
Now Trending …

Enough of the “retail is dying” narrative that has dominated so many headlines the past few months. It’s way overplayed.

Brick-and-mortar is evolving, not dying. And it’s full of exciting new players — many of them digitally native — that are infusing the industry with something it can always use: new blood. Here’s a quick rundown of some of these newcomers to the physical space:
Swire’s U.S. Statement

As striking as is the interior of Swire’s Brickell City Centre, where every turn of every corner is a possible photo for Architectural Digest, it’s the parking garage that impressed me most.