NBCUniversal Media, LLC

The payment company hopes its newest wearables concept will have a bright future.   Visa unveiled a prototype for payment-enabled sunglasses on Monday, March 13, simultaneously at the South by Southwest Festival in Austin, Texas, and the Quiksilver Pro and Roxy Pro surf competitions in Gold Coast, Australia, according to CNBC.  

A fashion blog is reporting that Walmart will acquire an online fashion brand known for its eclectic and quirky styles.   Walmart’s Jet.com division will acquire Modcloth, reported CNBC, which cited the Jezebel fashion blog. The report comes on the heels of Walmart’s acquisition in February of online outdoor apparel brand Moosejaw.    

Starting soon, select J.C. Penney will be offering bathroom remodeling services.  

The Michaels Companies is making a move to further inspire its hobbyists online.    A new partnership with online destination Craftsy is giving Michaels’ shoppers access to on-demand classes. Specifically, Michaels will leverage Craftsy's growing video library of more than 1,300 on-demand lessons from expert instructors sharing their crafting experiences.  

In the wake of a disappointing quarter, Target Corp. is making long-term investments in its future.   The discounter plans to spend $7 billion in cash during the next three years as it lowers its prices and invests in its stores, with renovations planned for some 600 locations, reported CNBC.   "We can't capture that market share if we're presenting an old, tired store," Target CEO Brian Cornell said.  

CSA’s annual award program honors five growing brands

Innovation in retail means breaking down barriers, navigating a fiercely competitive marketplace and making connections with increasingly demanding customers. In this section, Chain Store Age profiles five retailers that are succeeding in both. They are the winners of CSA’s Breakout Retailers Awards.

As teen retailers deal with competition from online as well as off-price and fast-fashion brands, one teen retailer is flourishing — with aggressive store expansion plans.  

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.     

A blockbuster deal in retail could be on the horizon. Or not.   Canada’s Hudson's Bay Company has approached Macy’s about a takeover, reported The Wall Street Journal, citing people familiar with the matter.   The talks between the companies are in the early stages and could lead to something other than an acquisition, according to the Journal, such as a deal for Macy’s real estate, which could be valued at roughly $14 billion. The talks could also go nowhere.