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Department Store

  • Home decor retailer betas membership-only loyalty program

    Bed Bath & Beyond is taking a loyalty lesson from Amazon.com.   The chain, which is synonymous with blanketing its customer base with ubiquitous $5 off and 20% off discount coupons, is beta testing a paid membership-based loyalty program that rewards participating customers with exclusive benefits online and in-store.   

  • Signet Jewelers closes Leonard Green strategic investment

    Signet Jewelers Limited has closed its previously announced investment from Leonard Green & Partners.   The private equity firm invested $625 million in the form of convertible preferred shares. The Signet board, as previously disclosed, increased its authorized share buyback program by $625 million on August 25, 2016, in connection with the transaction.  

  • Kohl’s enters the mobile payments game

    Kohl’s Corp. has joined the ranks of Walmart, Starbucks and other companies to offer its own mobile payments app.    The retailer launched Kohl’s Pay on Wednesday, hoping to speed up checkout in its stores. Using the app, shoppers can integrate their Kohl’s private label credit card and their Yes2You Rewards member number directly in the app’s mobile wallet. The technology also saves earned Kohl’s Cash and Yes2You Rewards.  

  • Ascena Retail restructures; some execs to leave

    Ascena Retail Group, whose brands include Ann Taylor, Justice, and Lane Bryant, announced organizational changes expected to provide cost-savings of $100 million to $150 million by fiscal 2019.   The changes will see a number of executives leave the company, although Ascena did not disclose who would be leave. Also, Brian Lynch, CEO and president of Justice, has been appointed company COO.  

  • J.C. Penney uses ‘experiences’ to ‘reimagine retail’

    It is not easy for a 100-plus year-old retailer to reimagine its retail strategy, but J.C. Penney is doing just that.   

  • The nation’s largest mall bucks a big trend

    In a bold stand, Mall of America will be closed on turkey day this year.     The mall, located in Bloomington, Minnesota, has been open for business on the holiday for the past four years. The 5.6 million-sq.-ft. mall has more than 520 stores and restaurants, and a number of attractions.      “In years past we’ve all rallied together to answer the call for 24/7 shopper access that the Thanksgiving/Black Friday weekend brings.”   

  • Target, Manhattan

  • A retail crossroads continues to expand in Texas

    New shopping center construction may be in a nationwide lull, but not in Tarrant County, Texas, where a developer is poised to break ground on a 90-acre parcel flanked by two other sizeable centers.   A partnership controlled by the De La Vega Group will begin building a mixed-use project called The Citadel across Interstate 35 from Alliance Town Center and adjoining the newly opened Presidio Town Center north of Fort Worth. Upon its completion, retail space will top 2 million sq. ft. in the submarket.  
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