Corporate Governance

In the name of optimizing its omnichannel approach, Macy's said it plans to close between 35 and 40 department stores at undisclosed locations in early 2016 while moving ahead with expansion of its off price format.

Freeport, Maine -- The man who turned a folksy Maine mail-order outlet into a global billion dollar-plus multichannel business has died.

New York -- An Irish fast-fashion leader is getting ready to make its U.S. debut.

Primark, known for its value prices and on-trend fashions for the entire family, leased a 677,000-sq.-ft. distribution center to support its entry into the United States.

Hoffman Estates, Ill. – Sears Hometown & Outlet Stores Inc. posted declining profits and revenues in a generally difficult second quarter of fiscal 2015.

The retailer plans to close 40-50 underperforming stores by the end of the year, on top of 63 underperforming locations closed in the first half of 2015.

Back in September 2013, I wrote a TechBytes column about how millennials aren’t that different from prior young generations in their interests and needs. I have since realized there are a few unique millennial social trends which reflect specific generational consumer attributes. Using leading-edge technology, retailers can effectively meet the generational needs of this increasingly important customer demographic.

Rock is Dead

Photo: The Cordish Companies and the City of Norfolk (Virginia) broke ground recently on Waterside District, a redevelopment of the waterfront.

San Jose, Calif. -- The back-to-school season traditionally gives retailers a much-needed boost, bringing traffic into stores in August. How did things turn out this year?

Not so great it turns out, according to RetailNext Inc., which provides retail analytics for brick-and-mortar stores. The firm’s, monthly Retail Performance Pulse revealed a 7.3% year-over-year decrease in sales on a 9.9% decline in traffic at physical stores for the retail month of August (Aug. 2 through Aug. 29 on the retail 4-5-4 calendar).

New York -- A new report suggest that the Federal Trade Commission is unlikely to approve the merger between Staples and Office Depot.

The report, by 24/7 Wall St., cites on a market-share argument that the proposed combination imperils competition.

To read the story, click here.
 

San Francisco -- Gap Inc.’s sales slump continued in August across all its brands with one notable exception. The retailer said that it wasn’t helped by a late Labor Day, with the holiday falling in September this year, as opposed to August last year.

Gap's global same-store sales fell 8%, compared to a 6% decrease for the year prior, while Banana Republic had a 11% drop compared to 6% last year. Old Navy continued its winning streak, with a same-store sales rose 6% on top of a 2% increase for the prior year.

Livonia, Mich. -- It’s Labor Day, time to start thinking about Halloween.

In anticipation of one it calls of the largest retail holidays in the U.S., costume superstore, Halloween City, is creating thousands of temporary jobs to staff the hundreds of Halloween City stores now opening across the country.

The retailer is recruiting up to 10,000 new employees to fill temporary management and store associate positions nationwide.