Department Store

The NRF Foundation has brought together leading retailers and non-profits to launch a job training and credentialing initiative called Rise Up (Retail Industry Skills & Education).   The program is designed to help people — regardless of education, background, economic means or age — acquire the skills they need to secure jobs in retail and advance into promising careers in every aspect of retail, from in-store to digital and mobile commerce, according to the NRF.  

Limited Stores has taken another step in the liquidation process it started in December.   The women’s apparel retailer announced on Tuesday it has filed for Chapter 11 bankruptcy protection. The chain also said it agreed to a "stalking horse" bid for its intellectual property and some related assets from an affiliate of private equity firm Sycamore Partners.     

Retail in 2016 had its share of ups and downs. While several major businesses filed for bankruptcy, others in the category saw incredible growth, leveraging technology to connect with customers in new and exciting ways. For instance, Walmart tripled its online catalog and opened more stores that allow shoppers to pick up online orders in-person. In an often-cluttered retail landscape, Walmart and others have shown that technology can be a key differentiator.   

It was a less than merry holiday for some retailers, especially in the department store sector, but total sales still managed to beat industry projections, fueled by a strengthening economy.    Retail sales (excluding autos, gas stations and restaurants) during November and December rose 4% over 2015 to $658.3 billion, according to the National Retail Federation. The group had forecast sales would rise 3.6% to $655.8 billion.  

After nearly 30 years of doing business in the MainPlace Mall in Santa Ana, California, Nordstrom has announced it will be shuttering the location.  

When did washing dishes become more attractive than shopping?   In-store shopping has lost its allure for many shoppers, who are increasingly frustrated with brick-and-mortar stores that lack the convenience of online players, according to a new global report from Capgemini’s Digital Transformation Institute.    

An international study conducted by Capgemini found 80% of retail executives believing in the sanctity of the physical store. Only 45% of shoppers, however, felt the same way.   The consulting company’s Digital Transformation Institute surveyed 6,000 consumers and 500 retailers in the U.S., China, and seven European nations and found a consumer base much more taken up with technology and online shopping than leading merchants were.  

Consumer electronics and furniture retailer Conn’s has named a COO, along with heads for logistics and service.   The retailer named Coleman R. (“CR”) Gaines as president and COO, effective February 1, 2017.   Gaines previously spent seven years at TMX Finance in Savannah, Georgia, a consumer retail finance company, where he was most recently the company’s executive VP of store operations.