Corporate Governance

Survey: Retailers need to move to customer-centric model
For all their talk about the customer, most retailers have yet to evolve to a business model that is truly customer-centric.

That’s the conclusion of a new industry study by strategic consulting firm The O Alliance that was created in partnership with Revmetri.
Lunar New Year inspires Macy's marketing campaign
Macy’s is looking to leverage the popularity of the Lunar New Year through a variety of promotions in-store.

The retailer is planning to host artistic performances, fashion, in-store visuals and cuisine presentations at select stores nationwide, with the uniqueness of Asian culture on prominent display for visitors to admire while they shop.

Commentary: These are the type of stores Amazon should open

It makes no sense for Amazon.com to open the type of physical bookstores it helped obliterate, not when the online giant already has the physical infrastructure in place to support a large scale rollout of another type of store in one of retail’s hottest sectors.
Game Stop talks about its newest initiative

GameStop Corp. has entered into a partnership that will expand the retailer from selling video games to video-game publishing, the Dallas Business Journal reported. “As we’ve said many times before, GameStop will continue to invest in new and exciting innovation and strategic opportunities that will grow our video game business and deliver better and better entertainment experiences for our customers,” Mark Stanley, GameStop VP of strategic initiatives, said in the report.
Report: eBay fixes security issue, is it enough?

According to Forbes, during the week of Feb. 1, eBay Inc. remediated a flaw in its network security program that allowed hackers to place malware within the “active content” eBay merchants use to deliver pop-up ads and other dynamic messaging to customers. However, this action may not be enough to address wider security issues at eBay. [Forbes]
L Brands keeps setting sales records

L Brands raised its profit outlook for the year after reporting record sales in the fourth quarter.

For the fourth quarter ended Jan. 30, the company had net sales of $4.395 billion, an increase of 8% compared to $4.069 billion for the quarter ended Jan. 31, 2015. Same store sales increased 6%. Net sales for the year ended Jan. 30 were $12.154 billion, an increase of 6% compared to $11.454 billion for the year ended Jan. 31, 2015. Same store sales for the year ended Jan. 30 increased 5%.
Publix expands specialty pharmacy in new deal

Publix and AmerisourceBergen on Thursday announced a long-term agreement encompassing the distribution of branded, generic and over-the-counter health and pharmaceutical products. The agreement also enables Publix’s network of more than 980 pharmacy locations across the southeast to expand patient access to specialty medications.
Challenging holiday takes toll on Kohl’s profit

Positive trends with its online business were not enough to help Kohl’s offset in-store weakness and intense competition, which pressured profits and caused a significant downward revision in guidance.

Kohl’s said its fourth quarter same-store sales increased 0.4% while the digital business grew 30%. Full year same store sales increase 0.7%.
Costco sales mostly soft in January

Same-store sales at Costco were mostly flat in January across the globe, mirroring reports from other retailers reporting soft sales.
General Growth clarifies comments about Amazon’s store expansion plans

The CEO of General Growth Properties caused a firestorm late Tuesday when he made a passing reference during the company’s fourth quarter earnings call that Amazon was planning to open 300 to 400 bookstores. On Wednesday, the mall giant issued a very short statement that poured water on the fire.

“General Growth Properties CEO Sandeep Mathrani has indicated that a statement he made concerning Amazon during GGP's earnings conference call held on February 2, 2016, was not intended to represent Amazon's plans.”
CVS Health opens first pharmacy within Target in N.C.

The first of the pharmacy-within-a-store concepts showcasing the CVS Health and Target partnership went live Wednesday morning in the Charlotte, N.C. market. CVS Pharmacy and Target executives participated in a grand opening celebration at the Target store on Weddington Road in Wesley Chapel.
Lowe's steps it up in Canada with RONA purchase

Lowe's is making major moves in Canada with the $2.3 billion purchase of RONA Inc., a Canadian home improvement retailer and distributor.

Lowe's had previously made an unsolicited bid on the company more than three years ago, but the substantially higher offer this time around was accepted by Rona's board.