Department Store

The retail industry is actually in better shape than some of today's headlines may lead folks to believe.    "Distressed [retail] names are growing, but still a small part of our rated universe," Moody's analyst Christina Boni told CNBC. "The broader industry remains fundamentally healthy."   Dollar stores, home-improvement chains, convenience stores and auto-parts retailers are among the leaders of the pack, according to the report.   

Retail has reached a tipping point. Omnichannel shopping is no longer the “new thing” — it is THE THING. Demographics and technology have permanently altered consumer behavior, and retailers have felt the impact in an unprecedented manner.   In today’s environment, proactive management of the store portfolio is not an option—companies must actively pursue a forward-looking, dynamic, and data-centric approach to design the optimal store portfolio to ensure ongoing viability.  

The retail industry lost jobs in July.   Retail industry employment declined slightly in July, decreasing 1,700 jobs from June, according to the National Retail Federation. On a three-month average, retail jobs have decreased by 4,200 jobs as calculated by NRF. (The numbers exclude automobile dealers, gasoline stations and restaurants.) On a positive note, the economy overall saw gains of 209,000 jobs in July, exceeding growth expectations for the month.  

Gap's local franchisee in Australia is ending its four-year relationship with the specialty retailer.

The financially struggling OrotonGroup is expected to close its six Gap stores by the end of January as it looks to focus on its core Oroton handbag business and limit related future losses.  In June, Oroton, which operates 70 stores and is best known for its luxury handbags, announced it was exploring options, which could include a sale of its business.

For the third straight year, L.L.Bean has beat out Amazon in a customer service ranking.   The outdoor outfitter came out on top in Prosper Insights & Analytics’ annual review of service excellence among retailers, with Amazon a close second. Rounding out the top five; Lands’ End, Fingerhut, and Kohl’s.  

Volatility in the retail industry is now hitting senior retail executives in the pocketbook.   Seventy-three percent of retail companies paid little to no bonuses to senior executives in 2017 for 2016 performance, with 35% paying no bonus and 38% paying only small bonuses to their executives, according to new research by Korn Ferry. The company conducted an analysis of 40 North American retailers with annual sales between $1 billion and $50 billion  

Anthropologie has brought its large format retail concept, Anthropologie & Co., to the new Bedford Square development in downtown Westport, Connecticut.    The 35,000-sq.-ft. store boasts dedicated spaces for clothing, footwear, furniture, jewelry, home decor, and more — accented with one-of-a-kind decor from the retailer's talented visual team. It also features a beauty boutique and wedding gown department.  

Retailers sued in class or representative actions for alleged wage-and-hour violations often object to discovery requests that seek the contact information (names, addresses, etc.) of their employees — the rationale being that such information is private and burdensome to collect and should not be disclosed unless there is reason to believe that the alleged unlawful practices occurred in locations other than just the named plaintiff’s store.