Department Store

Hudson’s Bay Co. (HBC) shareholders have spoken.
 
In good news for the Canada-based department store operator, all of the nominees listed in its management information circular dated April 28, 2016 were elected as directors of HBC at the annual meeting of shareholders held Monday, June 6 in Toronto.
 
The newly-elected directors are:

· Richard A. Baker
· Robert C. Baker
· David G. Leith
· William L. Mack
· Lee Neibart
· Denise Pickett

Canadian retail conglomerate The Loblaw Cos. Inc. is pulling up stakes on store-based operations of its Joe Fresh banner in the U.S.

According to the Financial Post, Loblaw has closed the final remaining U.S. Joe Fresh store in the SoHo neighborhood of New York, and also no longer distributes the apparel brand through J.C. Penney stores in the States.

The term “post-department store era” was once considered so controversial that many in the retail world avoided using it, fearing backlash from powerful industry giants like Macy’s and Sears. Some saw the very idea of department store obsolescence as pure folly while others saw it only as a vague possibility too far in the future to consider.
 

The Marketplace Mall located in the Henrietta area of Rochester, New York, will convert to an outlet center.     The mall will undergo capital improvements, remerchandising of the retail mix, and will be rebranded as Marketplace Outlets. This is a first-of-its-kind full conversion of an enclosed regional mall to an outlet center.   

Watch out Target — Walmart is also looking to reinvent its store experience.
 
Walmart is testing an array of new initiatives, from sleeker fixtures and signs to a cool BBQ eatery to a giant kiosk for online order pick-up — at a new store in Arkansas, according to TheStreet.
 

With a couple of exceptions, May same-store sales figures reported by several major apparel, specialty and discount chains were less than impressive.

First the good news. Bath & Body Works reported a 3% same-store sales lift for May 2016 compared to the same month a year earlier. Same-store sales at Costco Wholesale Corp. and L Brands were flat, which may not sound that encouraging but was better than most other retailers reporting figures for the month.

Here is a roundup of other chains reporting negative same-store sales growth for the month.

Galeries Lafayette Group is the latest retail entity to launch its own tech accelerator program.

The French specialty retail conglomerate, which operates the Galeries Lafayette, BHV Marais, Royal Quartz, Louis Pion and Didier Guérin banners, is partnering with Silicon Valley-based technology accelerator and venture fund Plug and Play in the effort. The three-month program aims to develop an integrated platform to assist startups focused on the fashion and retail sectors. It will include access to venture capitalists, mentors, and Fortune 500 companies.

J.C. Penney Co. said Wednesday it is proposing to refinance a $2.25 billion senior secured term loan, and to extend the maturity of the loan, which is currently set at May 2018. The transaction is expected to be complete in June.

Penney also reported positive same-store sales for its quarter-to-date through Memorial Day.