Corporate Governance

Analysis: Target needs to balance online growth with store growth
The holidays did not bring much cheer for Target, which saw both sales and profit decline during the golden quarter. Worryingly, comparable sales fell at an accelerated pace, ending up at their most negative point for of the fiscal year. The one bit of sparkle in an otherwise dreary set of figures came from digital where sales grew by a stellar 34%, a pace of expansion well above online growth in the whole U.S. market.
Target misses bullseye in Q4 as profit, sales fall; gives weak 2017 outlook
Strong online sales were not enough to help Target Corp. overcome a very disappointing fourth quarter, whose sales and earnings were far below Wall Street expectations. And the discounter offered a weak outlook for 2017. Target on Tuesday issued a full-year profit forecast that was far below market expectations, and said it plans to invest more money into enhancing its digital online platform and cutting prices. The chain said it would sacrifice gross margins this year to stay ahead of the competition.

J.C. Penney extending appliances initiative

J.C. Penney is extending its appliance showroom footprint and also delving deeper into the category. The retailer will expand its in-store appliance showroom concept from its current 500 stores to an additional 100 locations in early 2017, and also add new appliance brands to the merchandise mix, company chairman and CEO Marvin Ellison said on Penney’s quarterly earnings call.
Starbucks pulls plug on juice stores

Starbucks is shuttering its remaining Evolution Fresh stores, but the brand will live on. The coffee giant will close the two Evolution locations, both of which are in Seattle, but will continue to sell Evolution Fresh cold-press packaged juices in its coffee shops and at supermarkets. It also is launching new flavors. Starbucks bought the brand in 2011, reportedly with an eye to rolling out stores nationwide. But it never grew beyond a handful of locations.
Report: Walmart in price tests

Walmart turning up the heat on prices? The nation’s largest retailer is not going to let grocery competitors, both newer and more established ones, take away its low-price dominance. The chain is running a price-comparison test in about 1,200 U.S. stores as it looks to close a pricing gap with such rivals as Aldi and Kroger Co., according to a report by pymnts.com.
Market is tough, but this teen retailer is thriving

As teen retailers deal with competition from online as well as off-price and fast-fashion brands, one teen retailer is flourishing — with aggressive store expansion plans.
Beauty retailer expands in U.S. with flagship

A 33-year-old make-up brand is looking to make inroads in the U.S. market with a jazzy-looking that is big on interactivity.
Supermarket retailer launches remodeling push

Food Lion continues to roll out its updated store design to new markets. The chain announced a $178 million investment in its stores in the greater Greensboro, N.C., market, which includes remodeling 93 stores. The remodels, part of Food Lion’s "Easy, Fresh and Affordable...You Can Count on Food Lion Every Day!" initiative, include a new design that is easier to navigate and shop so customers can get in and out of the store quickly, new registers and enhanced service.
Macy’s sells ground lease for Pasadena center

Macy’s has sold a fee-simple ground lease underlying The Shops on Lake Avenue in Pasadena that is shadow-anchored by one of its active stores. The sale to a private investor from San Diego was handled by Hanley Investment Group Real Estate Advisors. The ground lease does not include the Macy’s store, but does take in tenants including T.J.Maxx, Trader Joe’s, Ross Dress for Less, Williams-Sonoma, Talbot’s Jos. A Bank, and Orvis.
Report: Online retailer seems to be unraveling

JackThreads is the latest company seeking help to stay afloat. The online men’s retailer has cut its staff down to a skeleton crew with mass layoffs over the past two weeks, and is on the hunt for a buyer, according to Fortune.
Walmart’s Latest E-Commerce Moves: What Can it Really Deliver?

The world’s largest brick-and-mortar retailer, Walmart, has eliminated the membership fee on its two-day shipping program ShippingPass – its strongest response yet to the growing dominance of Amazon Prime (which is not estimated to 65 million members worldwide).
Specialty retailer launches IPO

Women’s apparel retailer J.Jill is returning to the public arena after more than a decade of private ownership. The retailer on Monday said it has launched an initial public offering of 11.67 million shares. The IPO is expected to have a price range of between $14.00 and $16.00 per share. J.Jill has been approved to list its common stock on the New York Stock Exchange under the ticker “JILL.”