Department Store

Genesco Inc. announced that Mario Gallione has been named president of the company's Journeys retail division. He most recently served as chief merchandising officer of The Journeys Group.   Gallione will report to James C. Estepa, who will continue to serve as CEO of The Journeys Group. Estepa also remains a senior VP of Genesco. Gallione's appointment is intended as the first step in a succession plan to prepare for Estepa's eventual retirement.  

Boll & Branch, until now an online-only seller of towels and linens, has opened its first brick-and-mortar location at the Short Hills Mall in New Jersey.   Claiming to sell the “World’s Most Comfortable Sheets,” Boll & Branch also offers towels and will inhabit a 2,137-sq.-ft. shop at the high-end, suburban mall known as one of the few to house Nordstrom, Neiman Marcus, Bloomingdale’s, and Macy’s under one roof.  

Whether we’re receiving coupons based on our spending, or product suggestions based on other people’s spending, artificial intelligence (AI) is transforming how consumers shop and experience brands. For retailers, meanwhile, AI could increase profits by almost 60%¹. It could be a game-changer in this labor-intensive sector, augmenting the workforce and enabling employees to become more productive.  

Best Buy and Macy’s are stepping up their same-day delivery efforts as they continue to bolster their defenses to compete with Amazon and other rivals.    Best Buy announced on Thursday it is expanding its same-day delivery of online orders from 13 metro areas to 27, with more to come. The retailer expects that customers in nearly 40 cities will be able to take advantage of service for the holiday selling season.  

Going private may take some pressure off a company, but it is not without its risks.   In June, the Nordstrom family, which owns 31.2% of the department store's stock, announced it planned to explore taking the company private. But in its latest quarterly filing with the Securities and Exchange Commission, Nordstrom executives warned of the potential risks that might come with a move, reported Puget Sound Business Journal.   

Roots has debuted a new experiential format that brings the iconic Canadian sportswear brand's heritage to life.   Roots' founders, Michael Budman and Don Green, are passionate about the outdoors, camping and Canada, and all three are reflected in the brand's new 5,100-sq.-ft. store, at Yorkdale Shopping Centre in Toronto.  The design of the space alludes to an open, modern cabin that showcases Roots' heritage and culture.  

Don't believe the hype — physical retail is still growing, particularly in three key segments.   Retailers are opening 4,080 more stores in 2017 than they are closing, according to a new research report from IHL Group, and they plan to open over 5,500 more in 2018. Mass-merchandisers, including off-pricers and value chains, are the fastest-growing retail segment (+1,905 stores), followed by convenience stores (+1,700 stores) and grocery retailers (+674 stores).  

Simon Property Group raised eyebrows in the real estate and retail communities this week with the filing a suit that challenged Starbucks’ decision to close 78 Teavana stores in Simon malls. All retailer 379 of the tea shops are slated for closure through next year.