Corporate Governance

CBRE hires store-within-a-store expert
CBRE has brought in a former Sears executive to help retailers monetize under-performing retail space through partnerships with outside brands. Kevin Marschall, formerly director of strategic partnerships and licensed business at Sears, has joined CBRE as a store-within-a-store specialist in the company’s retail partnerships unit.
Top 10 Retail Predictions for 2017
1. The import tax wild card. The Trump administration has floated a new tax policy that would apply a 20% tax on imports from Mexico, as well as other countries with which the United States has a trade deficit. If implemented, this tax could have a disproportionally large negative impact on merchants that export much of the goods they sell — i.e., almost all of our readers.

Lifestyle specialty retailer readies for EMV

Pacific Sunwear is one step closer to more secure in-store payments. PacSun is working with BTM Global to implement and integrate EMV (Europay, Mastercard, Visa) software that will support the global stand-ard for credit card and debit card payments. The implementation will roll out across more than 494 stores in all 50 states and Puerto Rico, a move that will strengthen payment security and protect its customers’ data.
Kohl’s Q4 profits fall, but beat forecasts

Despite strong online volume, low store traffic translated into weak fourth quarter sales for Kohl’s. For the quarter ended January 28, 2017, the department store chain’s profits fell 15% to $252 million, or $1.44 per share, from $296 million for the same period last year. Meanwhile, revenue dropped 2.8% to $6.21 billion, from $6.39 billion in 2015. Yet, the company still exceeded analysts’ expectations of revenue hitting $6.2 billion, or $1.32 per share.
Rubin steps down as chairman of PREIT

Ron Rubin resigned his post as chairman of the board of PREIT and will be succeeded in that role by CEO Joseph Coradino. His departure was expected, having been announced last month.
Off-price giant to launch another new retail format

TJX Cos. is preparing to debut a new retail banner. Speaking on the chain’s quarterly call with analysts, TJX CEO Ernie Herrman said the company will open four home goods stores in the United States under a new nameplate this year, CNBC reported. The new concept will allow TJX to enter new markets and sell products that it hasn't currently penetrated with its HomeGoods footprint, Herrman said, according to the report.
NRF: Consumers are tightly holding on to their tax refunds

Retailers shouldn’t expect consumer tax refunds to equate into a sales boom anytime soon. A record low number of Americans will spend their tax returns this year, while the second-highest number on record will put the money into savings, according to the annual tax return survey released by the National Retail Federation and Prosper Insights & Analytics. The study, which is based on responses from 7,609 consumers, was conducted Feb. 1 - Feb. 8.
Report: Jet.com shoppers get a taste of Walmart’s private label lines

Walmart’s house brands are getting a new audience — millennials. Jet.com, which caters to the cost-conscious Gen Y segment, has started offering private label brands — Great Value, Equate and Sam’s Choice — from its parent company, Walmart, according to Bloomberg.
Fashion retailer launches designer ‘Lab’

Nordstrom is taking new designers under its wing, and giving them some “space” for exposure. On Tuesday, Feb 21, the department store chain launched “The Lab,” an incubator project that will showcase and support new designers in select stores and online.
HSN’s sluggish fourth quarter still beats analyst estimates

A disruptive retail climate and underperforming categories took their toll on HSN during the fourth quarter. HSN’s net income was $43.5 million for the quarter, or 82 cents per share, ended December 31, 2016, compared to $59.7 million for the same period last year. This exceeded analysts’ estimates of 74 cents per share.
Bankrupt women’s apparel chain gets a buyer

The Limited is in line to get a new lease on life. Sycamore Partners has won the auction for the e-commerce business and intellectual property of the bankrupt women's apparel retailer with a bid of $26.8 million, according to Reuters.
Apple's spaceship-styled, energy-conserving home office to lift off in April

Apple is preparing to unveil its latest development: Apple Park. The name of Apple’s new spaceship-looking home office, Apple Park is a 175-acre campus located in California’s Santa Clara Valley. The new building, slated to open in April, will welcome more than 12,000 people over a six-month period. Construction of the campus and parklands is scheduled to continue through the summer, Apple said.