Corporate Governance

Creating an innovative customer experience is top of mind for Target. Now it needs the right solutions.   As a result, Target launched a new website that invites start-up companies to pitch ideas for new technology platforms that will help the big-box retailer enhance the customer experience in its stores and through its digital channels, according to an article in the Minneapolis Star Tribune.

For the second year in a row, Staples will close its stores on Thanksgiving.   Shoppers, however, will be able shop the office supplies giant’s e-commerce site.   

Wolf & Badger, a strong supporter of emerging fashion brands, is dropping anchor in the United States.   Founded in February 2010 by brothers Henry and George Graham, the British retailer will open a 2,500-sq.-ft. flagship in Manhattan’s SoHo neighborhood, in February. Although Wolf & Badger operates two stores in London, it is primarily an e-commerce player, with over 90% of its sales coming from online. But similar to many pure players, it feels a physical space is crucial to connecting with customers.  

In its new study of retail bankruptcies, Fitch Ratings identified seven retailers as being “at risk” for filing bankruptcy in the next year to 24 months.  

The House of Representatives has passed a bill that would delay by six months the effective start date of the Department of Labor's (DOL's) new overtime regulations.   The new rule will require employers to pay overtime to salaried workers earning less than $47,500 a year, double the current threshold of $23,660.      Five House Democrats joined 241 Republicans to support moving the rule's effective date from Dec. 1 to June 1.   

Costco Wholesale Corp. reported a higher-than-expected profit for the fourth quarter.     In related news, shoppers opened 730,000 new credit card accounts since the Visa cards went live in June, Costco executives said on a conference call with analysts. (In June, Costco ended its longstanding relationship with American Express and switched to Visa.)    Net income rose to $779 million, or $1.77 per share, in the fourth quarter ended Aug. 28, from $767 million, or $1.73 per share, a year earlier.

E-commerce is on the rise in the grocery segement.    Online grocery sales are gaining momentum, reaching $48 billion in 12 months as of June 2016, according the “Future of E-commerce,” a report from Kantar Worldpanel. While the overall consumer packaged goods market remained flat, increasing just 1.6% over the 12-month period, online grocery sales are outpacing the market.  

There are few demographic segments that have generated as much discussion in the retail community as Millennials. A great deal of literal and virtual ink has been spilled discussing the importance of catering to this large and influential group of young adults. From their spending habits to their social and behavioral characteristics, addressing the priorities and preferences of Millennials is seen as critically important for any retailer that wants to remain competitive in today’s marketplace.  

What Trademark did north of Houston with Market Street Woodlands (above) it intends to do in West Houston with an 82-acre mixed-use town center at the junction of I-10 and Mason Road.   “We believe this site is the next great opportunity in the country to develop a premier regional, mixed-use town center,” said Terry Montesi, CEO, Trademark Property Co. “There is a tremendous retail void in West Houston.”  

There is a new identity option for retailers eager to stand out in a competitive digital landscape.   The introduction of the 'dot-shopping' (.shopping) domain provides retailers with another way to brand themselves online. Launched by domain name provider Donuts Inc., the new digital names, also called "not-com" domains, can be used as a brand’s main e-commerce name. It can also point shoppers to a company’s existing online shopping web site, or a marketing or promotional site.