Retail

Visual social media network Instagram is taking a new step toward becoming a platform for commerce.

Instagram has launched a new program called Instagram Partners that is designed to help companies advertise on the social network. Each certified partner must have expertise in at least one of three defined areas: ad tech (buying and selling ads at scale), community management (managing comments and gaining consumer insights), and content marketing (sourcing and delivering content at scale).

Macy’s blamed warm weather, weak foot traffic and excessive inventory for the company's worse-than-expected third quarter results and said it is studying real estate options for some of its most iconic stores.

New York-based Janson Goldstein LLP has been tapped as the design firm for the Neiman Marcus store at Hudson Yards in Manhattan, Women’s Wear Daily reported.

The firm has a wide-ranging practice that includes both residential, hospitality and retail work, with a roster of clients that includes Holt Renfrew, Intermix and Saks Fifth Avenue.

American Apparel’s preliminary results for its third quarter are not looking very good.

The beleaguered retailer said it could not meet the deadline to file a quarterly report for the three months ended Sept. 30, noting that efforts related to its Chapter 11 bankruptcy filing in October have taken up a good deal of its time.

But American Apparel released estimates in which net sales for the quarter were down 19.1% to $126 million.

Bethesda, Md. -- EDENS announced the appointment of Rob Wyant as COO. Wyant brings over 30 years of experience in the retail real estate industry, with most of his career spent at General Growth and Westfield. He will use his vast knowledge in leasing, property managements, legal and tenant coordination functions, to inspire operational excellence at EDENS.

Amazon has scored another coup: Its CEO and founder, Jeff Bezos, now ranks as the fourth-richest man in the world, according to Bloomberg. The report puts his fortune at $58.2 billion. [Bloomberg]

J.C. Penney says the company's third quarter results will "exceed expectations" despite a $50 million settlement charge to settle a false advertising class action lawsuit.

The company announced Wednesday that it has reached an agreement to settle a false advertising class action lawsuit brought on behalf of California customers who purchased certain J.C. Penney private or exclusive branded products.

Westside Market, a local New York City grocery retailer, is partnering with Instacart for delivery to the Upper West Side neighborhood.

Instacart customers on the Upper West Side will now have access to an assortment of Westside Market items, all delivered in as soon as one hour. Instacart will deliver from a select Westside Market location to start (110th Street and Broadway), and Instacart prices are the same as Westside Market's in-store prices. Westside Market has five stores in all.