Apparel

When it comes to sticking on budget, millennial parents prefer in-store shopping over digital commerce for back-to-school purchases.   Sixty-five percent of millennial parents believe shopping in-store enables them to more effectively remain within budget goals compared to shopping online, according to a study commissioned by Citi Retail Services. These parents plan to do the majority, 72% on average, of back-to-school shopping in a store rather than online this year.   

Francesca's Holdings Corp. is on the hunt for a new chief merchant.   The apparel retailer announced that Laurie Hummel, executive VP and chief merchandising officer, has left the company. It did not provide a reason for her departure.    Hummel joined Francesca's in November 2015. Previously, she served two years as senior VP and divisional merchandise manager at Kohl’s. Before that, she was with State Stores.   

Citing favorable demographics and a steady income stream, Nazareth Enterprises acquired the Walmart Central Shopping Center in Folsom, California for $39.7 million.    Besides Walmart, the 139,377-sq.-ft. center contains a 24-hour Fitness SuperSport Gym, the 99Cent Store, and Great Clips. It’s shadow-anchored by a Super Walmart.  

Back-to-school advertising appears to be losing some of its resonance with consumers.    Walmart, Target and Old Navy scored the highest awareness levels among consumers (with children under the age of 18) in a survey of BTS advertising from 30 retailers by YouGov BrandIndex. But many retailers scored less than last year.   

The parent company of Hudson's Bay, Lord & Taylor and Saks Fifth Avenue has appointed a 25-year retail veteran as its new finance head.   HBC named Edward Record as CFO, effective August 28, 2017. He succeeds Paul Beesley, who, as previously announced is leaving HBC.   Record joins HBC after more than three years as CFO of J. C. Penney Company. In July, he announced he was stepping down from the company to "pursue other interests."  

Parents may be using mobile to look for deals this back-to-school season, but most purchases are happening in-store.   Sixty-eight percent (68%) of shoppers will make their back-to-school purchases in-store vs. 32% who would prefer to shop only online, according to the “2017 Back-to-School Sales Report,” from ChargeItSpot.  

Foot Locker reported grim results for its second quarter, and suggested that it may be mulling store closures.   

Two urban-focused athletic footwear and apparel retailers have merged.   Private equity firms Bruckmann, Rosser, Sherrill & Co. and Goode Partners completed a transaction that will merge DTLR and Sneaker Villa (Villa). The merged company will operate nearly 240 stores covering 19 states and the District of Columbia, spanning the East Coast from New York to Florida, the Midwest, the Southeastern U.S. and Texas.    

The second quarter numbers show that Walmart remains firmly on the front foot and is more than holding its own in a challenging and competitive retail market. It is particularly pleasing to see sales growth accelerate since Q1 -- a clear sign that the various initiatives and investments are paying dividends.