Corporate Governance

Fashion retailer credits record online holiday sales to AI
The use of artificial intelligence has given Charlotte Russe an important competitive edge. With its online and mobile shopping communities growing larger and their expectations for flawless services increasing, the apparel retailer turned to IBM to prepare for the busy and critical 2016, five-day holiday shopping season kick-off. To get a jump start, Charlotte Russe launched IBM’s Watson Customer Engagement solutions in seven months. And the technology immediately gave the retailer a wake-up call.
Nordstrom moves point-of-sale to the cloud
As the retail experience becomes increasingly digitally-influenced, retailers need a flexible point-of-sale (POS) system that can deliver a consistent brand experience at store level. Nordstrom is taking steps to make this happen through a partnership with Infor to run POS in the cloud. Having a POS system in the cloud will give Nordstrom the tools to be more accurate and consistent across multiple locations, attend to customers more quickly, and better manage and track information, according to Infor.

Report: Department store retailer in data breach

Saks Fifth Avenue is the latest retailer to compromise the personal data of some of its shoppers. Saks inadvertently exposed personal information, including email ad-dresses and phone numbers of some of its shoppers on its online shop-ping site this weekend, according to BuzzFeed News.
Kroger names new Fred Meyer Stores president

That was fast. The Kroger Co. wasted no time in naming a replacement for Jeff Burt, president of Fred Meyer Stores, who resigned on Monday, March 20, to head up Target’s grocery business. Kroger tapped company veteran Joe Grieshaber as president of Fred Meyer Stores, immediately.
Longtime Kroger vet jumps ship for Target

A 30-year veteran of The Kroger Co. has joined Target Corp. to head up the discounter’s struggling grocery business. Target has appointed Jeff Burt as senior VP, grocery, fresh food and beverage, effective April 10.
Menswear retailer to focus on marketing, digital in 2017

Destination XL Group is slowing store growth to invest in e-commerce and enhanced marketing that includes a return to television advertising. The retailer of big and tall men’s clothing on Monday reported better-than-expected net income of $1.8 million for the quarter, after reporting a loss of $1.4 million in the year-ago period. Total sales for the quarter were reported as $122.6 million, down slightly from $124.0 million in the prior-year quarter. Same-store sales fell 2.4%.
eBay makes new speedy delivery play

Determined to fight back against online rival Amazon, eBay made a strategic move in the competitive online delivery game. Beginning this summer, the e-commerce retailer will launch a new program, called “Guaranteed Delivery,” that will offer U.S. shoppers guaranteed delivery on 20 million eligible products in three days or less — with millions of the items offering free shipping. In addition, shoppers will also be able to search for and filter items by one- and two day delivery.
Hhgregg deal falls through

Bankrupt Hhgregg Inc.’s proposed purchase by an anonymous buyer has collapsed.
Survey: Retail CFOs bullish about 2017, but…

Bolstered by positive consumer indicators, retail CFOs are largely optimistic for 2017. But competition and consolidation could cloud their outlook. That’s according to BDO USA’s 11th annual Retail Compass Survey of CFOs, in which respondents predict a 4.9% bump in total sales this year, up from 3.4% in 2016. The bullish predictions are echoed by online sales projections, with a 10.7% increase expected for the year ahead — the highest in survey history.
Sunglass retailer ups the ante on digital commerce

As it prepares to enter “a high-growth period” for its online business, Solstice Sunglasses needed a solution that could support this endeavor and future expansion plans. Solstice, a retailer with 105 store locations throughout the U.S, strives to offer the same level of service to both online and in-store customers looking for luxury, designer and sport sunglasses. To achieve this goal, the company selected the ncommerce platform, an end-to-end digital commerce platform from Newgistics.
Target to open in Macy’s backyard in NYC

Target Corp. is bringing its small-format store to the heart of Manhattan. The discounter plans to open its first location in mid-town Manhattan, a 43,000-sq.-ft. store in Herald Square, just west of the 34th Street and Broadway intersection, and one block from Penn Station — and across the street from the Macy’s flagship.
Grocery giant improves supply chain planning among perishables

Delhaize America is always striving to reduce inventory levels, yet still maintain fresh perishables as they move between its distribution centers and stores. Besides being a challenge, managing fresh and short-shelf-life products is called one of the toughest tasks related to retail planning. Delhaize hopes to ease this struggle with a new supply chain solution from Relex that will forecast and replenish perishable categories within its distribution centers.