Retail

Virtual reality shopping is here and consumers — or at least the ones that are tech-savvy — are ready to use it.   Seventy to eighty percent of "early tech adopter" consumers are eager to use virtual commerce technology to design rooms, customize products and shops with friends from across the globe, according to a study from L.E.K. Consulting.   

Kimco Realty has sold the Ambassador Plaza neighborhood center in Lafayette, Louisiana, to Westwood AC Properties for $5.3 million.   According to Transwestern VP Fred Victor, who brokered the deal for Kimco, the property benefits greatly from being shadow-anchored by an Albertson’s grocery store. Ambassador Plaza boasts a wide variety of dining options, including Subway, Little Caesars, and Fruiti Smoothie.  

Saks Fifth Avenue is partnering with Disney to celebrate the holidays.   Saks' annual holiday window display at its New York City flagship on Fifth Avenue will be devoted to "Snow White and the Seven Dwarfs." The collaboration with Disney also includes special Disney-inspired fashion, accessories and giftable items created by premier designers and available across Saks' 41 stores in the U.S. and Canada, and Saks.com.   

Weis Markets saw its sales and income increase in its second quarter.      The company’s net income in the quarter totaled $18.5 million, a 21% increase over the year-ago period. Operating income rose 15.2% to $27.7 million, compared with $24.1 million in the same period last year.    Sales rose 20% to $876.6 million. Same-store sales rose 2.7%, after adjustment for the Easter holiday shift.   

Driven by the need “to solve problems for its shoppers,” Boxed is about to make it easier than ever for customers to reorder merchandise — without even having to think about it.   

After several years of explosive growth, Under Armour is hunkering down amid increased competition and weaker demand. And the brand, best known for its performance edge, is putting a new emphasis on lifestyle.  

An Asian brand whose characters were originally created for use as emoticons on a mobile messenger app has opened its first store in North America.     Line Friends, whose characters include whimsical-looking bears, ducks, bunnies and more, has opened a 4,628-sq.-ft. flagship in Manhattan's Times Square as part of the company's global expansion efforts.  It currently operates 84 locations in 11 countries around the globe.   

Digital transformation is accelerating the pace of change within the store environment.