Department Store

Ralph Lauren Corp. is seeking to rectify what it acknowledges have been operational mistakes with a program of cuts and organizational streamlining it calls “The Way Forward Plan.”

Retailers looking for global opportunities in emerging markets should head to Asia, particularly China, according to a just-released survey.   

China ranks as the top country in A.T. Kearney’s 2016 Global Retail Development Index (GRDI), followed by India, whose high market potential, fast growth, improved regulatory environment, and ease of doing business pulled it up to second in the rankings. (See end of article for top 30 rankings.)

Mary Meixelsperger, senior VP and CFO DSW Inc., is shifting professional gears

Meixelsperger has resigned from the company effective June 10, to pursue another unspecified opportunity. Coincidentally or otherwise, DSW recently missed expectations for both profits and sales in a difficult first quarter of fiscal 2016. Net income fell 37% and same-store sales also declined, although revenues grew below Wall Street forecasts.

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.