Corporate Governance

Nordstrom may go private
One of the nation's most successful department store retailers may remove itself from the scrutiny and pressure of Wall Street.
Things looking up at 99 Cents Only Stores
The turnaround at extreme-value retailer 99 Cents Only Stores appears to be taking hold. The retailer reported that net sales for its first quarter, ended April 28, increased 6.7% to $547.5 million, from $512.9 million in the year-ago period. Same-store sales increased 6.9%, with higher customer traffic of 4.2%, and a higher average ticket of 2.5%.

Ikea expands breadth through third-party sales

Ikea is getting in on the online marketplace game. The home furnishings giant is embarking on a test that will focus on selling its products on websites other than its own. This move will get merchandise in front of more online customers, according to Reuters.
Report: Supply chain key to omnichannel costs, revenue growth

An annual report provides an in-depth analysis of the front-burner issues facing America’s retail supply chains, and highlights tools and leading practices to compete in an evolving marketplace.
Report: Office supplies giant names new CIO as it gears up for big initiative

Staples named a new technology chief who is expected to step up the company’s IT initiatives.
Amazon lends more than $3 billion to third-party sellers

Amazon’s lending program has hit epic proportions, with one-third of loans being granted in the last year, alone. The online giant’s Amazon Lending program has surpassed $3 billion in loans to small businesses since the service launched in 2011. Specifically, Amazon has lent more than $1 billion to small businesses in the last 12 months, and more than 20,000 small businesses have received a loan from Amazon.
Warehouse club operator entering new territory

BJ's Wholesale Club is set to open its first location in South Carolina. The retailer will celebrate the grand opening of its new location in Summerville, South Carolina on Saturday, June 10. The store, which marks BJ's expansion into South Carolina, is located at the intersection of Interstate 26 and North Main Street, Summerville's primary retail corridor.
Study: Sales associates not well-equipped to perform job

Digital retailing is intensifying, yet retail associates still don’t have the technology they need to serve customers when they visit in-store. That's according to “The 2017 Retail Associate Technology Study,” from Salesfloor. The report, which surveyed 254 North American retail associates across a variety of product categories, compensation models and store sizes, explores the connection between store-level employees and the technology they use to serve customers.
Department store giant announces big job cuts as part of major restructuring

Hudson's Bay Co., whose banners include Saks Fifth Avenue and Lord & Taylor, has lowered the ax.
Industry Commentary: Nordstrom

Greg Portell, lead partner in the retail practice of A.T. Kearney, a global strategy and management consulting firm, answers a few questions regarding the news that Nordstrom may go private. What does this move mean for Nordstrom — how might it play out?
Specialty apparel retailer Q1 sales up 22%

Duluth Trading Company continues to grow its sales and store footprint. The retailer of men’s and women’s workwear, casual clothing, and accessories reported that net sales increased 21.9% to $83.7 million in the quarter ended April 30, up from $68.6 million in the prior-year first quarter. It was the company's 29th consecutive quarter of increased net sales year-over-year.
$30 million redevelopment for CambridgeSide

In reaction to changes that have transpired in the adjoining East Cambridge and Kendall Square neighborhoods since it debuted in 1990, CambridgeSide Galleria outside of Boston is undergoing a $30 million makeover. Owner New England Development calls it a “repositioning” that will see the “Galleria” tag dropped from the title of the center, one of the first regional enclosed malls erected in an urban setting. It is the centerpiece of a 1.2-million-sq.-ft. mixed-use project that includes office space and a hotel.