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Retail

  • Supermarket retailer promotes COO

    Raley’s has given COO Keith Knopf the additional title of president.   Raleys owner & CEO, Michael Teel announced the promotion of Knopf, who joined the company nearly two years ago, around the time Teel took majority ownership of the company. Teel will continue to direct the development of Raley’s overall strategic plan.  

  • Moody’s sees further department store 'rationalization'

    Bruised by weak fourth-quarter results, department stores are now planning more cautiously for 2017 as they re-evaluate how to compete in a rapidly changing retail environment,   

  • Penney announces profit—and plans to downsize store fleet

    J.C. Penney on Friday announced plans to close stores and reduce its workforce even as it reported its first profit since 2010.    In one of its deepest cuts to date, the retailer said it will close 130 to 140 stores, which represent about 13% to 14% of its total, 1,014 store base. The locations to be shuttered are unprofitable, Penney said, and generated less than 5% of total annual sales.     

  • Top 10 Retail Predictions for 2017

    1. The import tax wild card. The Trump administration has floated a new tax policy that would apply a 20% tax on imports from Mexico, as well as other countries with which the United States has a trade deficit. If implemented, this tax could have a disproportionally large negative impact on merchants that export much of the goods they sell — i.e., almost all of our readers.  

  • L Brands’ same-store sales flat, lowers 2017 outlook

    L Brands is preparing for steep losses in the near-future, specifically across its Victoria’s Secret brand.    For the quarter ended January 28, 2017, net sales were $4.489 billion, an increase of 2% compared to $4.395 billion for the quarter ended January 30, 2016. The company’s net income was $631.7 million compared to $636 million last year.  

  • Online home decor retailer soars in Q4, beating Wall Street expectations

    Wayfair credits innovation, increasing brand awareness and repeat customers for its strong fourth quarter growth.   The home decor brand’s total net revenue for the fourth quarter ended December 31, 2016, rose 33.1% from last year to $984.6 million, topping analysts’ expectations for $975.32 million. The company’s gross profit was $238.6 million, or 24.2% of total net revenue.  

  • Report: Sears slashes HQ jobs

    On the heels of announcing a comprehensive restructuring plan, Sears eliminated 130 jobs at its corporate office on Thursday, Feb. 23.   The layoffs, which are part of a $1 billion cost-cutting plan, were relayed in an email sent to corporate employees Thursday afternoon, according to Business Insider.   

  • Lifestyle specialty retailer readies for EMV

    Pacific Sunwear is one step closer to more secure in-store payments.   PacSun is working with BTM Global to implement and integrate EMV (Europay, Mastercard, Visa) software that will support the global stand-ard for credit card and debit card payments. The implementation will roll out across more than 494 stores in all 50 states and Puerto Rico, a move that will strengthen payment security and protect its customers’ data.    
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