Marketing Tactics

Ikea selects VCC as GC for new store in Burbank
Conshohocken, Pa. -- Ikea announced that it has chosen VCC to serve as construction manager both for the site work and store development of its new, larger store in Burbank, California. The new location will replace the chain’s existing Burbank store, which is also Ikea’s oldest store in the Western United States.

Pending remaining approvals and permits, groundbreaking is on track for fall 2015 and store opening in spring 2017. Until the new, roomier store opens on the new site, customers can continue to shop at the existing Ikea Burbank.
Stein Mart to open 11 stores in 2015
Jacksonville, Fla. - Stein Mart is opening 11 new stores this year as part of the company's accelerated store growth that began in 2014. The new stores include the company's March opening of the first-ever San Francisco Bay area location in Cupertino, California, and 10 additional stores opening in the fall.

This is an increase from the company's earlier estimate of 10 new stores for 2015 announced in November. In 2014, Stein Mart opened nine new stores.

Walmart COO McKenna added to event lineup

The Center for Retailing Excellence just scored another coup with the addition of Walmart COO Judith McKenna to the agenda for an upcoming conference that already included Walmart CEO Doug McMillon.

The Center, part of the Sam M. Walton College of Business at the University of Arkansas, is scheduled to hold its annual Emerging Trends in Retail conference on June 11 at the Northwest Arkansas Convention Center in Springdale near Walmart’s headquarters in Bentonville headquarters.
Kohl's ups premium beauty products mix in deal with Bliss

New York -- Kohl’s is joining the army of retailers focusing on the high-margin beauty category by adding an upscale skin-care brand to its assortment.
Job Opportunity: Audience Development Manager

Lebhar-Friedman is seeking an Audience Development Manager for its publications. JOB SUMMARY:
Lumber Liquidators profit drops in Q4; will open 30-35 stores

Toano, Va. – Despite falling net income, Lumber Liquidators Inc. plans to open 30-35 new stores and remodel 15-20 stores, all in an expanded showroom format, during fiscal 2015. In the fourth quarter of fiscal 2014, the retailer reported net income of $17.3 million, down 17% from $20.8 million in the same quarter the prior year.

Selling, general and administrative (SG&A) expenses $6.5 million, or 9%, to $77.8 million primarily due to higher advertising, depreciation, occupancy and payroll expenses.
Study: Millennials help boost casual fashion sales

Port Washington, N.Y. – The affinity of Millennial consumers for casual and activewear has resulted in a small boost in apparel, footwear and accessories sales. U.S. consumers spent $323 billion on apparel, footwear, and accessories in 2014, according to The NPD Group.

The 1% increase compared to 2013, resulting in an additional $2 billion in sales, was driven primarily by growth in sales of activewear, athletic performance footwear, and bags.
TJX profits rise, so will employee wages

It’s no wonder Macy’s is looking to allocate part of its $1 billion capital expenditure budget into opening off-price stores when you look at the financial results TJX Co. reported for the fourth quarter.

The company reported an 11% increase in profit for the quarter ended Jan. 31. Net sales for the fourth quarter were $8.3 billion, a 6% increase over last year. Same store sales increased 4% over last year’s 3% increase. Net income was $648 million and diluted earnings per share were $.93, a 15% increase over last year’s $.81 per share.
Kohl's beauty expansion to include Bliss

Kohl’s is joining the army of retailers focusing on the high-margin beauty category by adding an upscale skin-care brand to its assortment.
American Express launches program to help smaller merchants combat fraud

New York -- American Express has officially launched its Small Merchant EMV Assistance Program, which was announced last October by President Obama. The nationwide campaign was created to help U.S. small merchants fight fraud through a $10 million reimbursement program designed to accelerate adoption of EMV payment terminals. It will also arm small merchants with knowledge about EMV’s security benefits.
Retail Rap: Malling it Over

If we wanted to show the struggles of the classic American mall, I don’t think we could come up with a better example than Northland Mall in Southfield, Michigan. When it opened in 1954, Northland was an instant hit: an icon not only for the region, but for the nation. One of the first and largest open air centers in the nation, Northland was enclosed in 1974 and today boasts space for 96 stores and nearly 1.5 million sq. ft. of retail.
NRF: Consumers will save tax refunds

Washington, D.C. – Retailers looking forward to consumers receiving their tax refund checks this year may be setting themselves up for disappointment. According to a new survey from the National Retail Federation (NRF) and Prosper Insights & Analytics, close to half (47%) of the 66% of Americans expecting a tax refund this year plan to save it.