Department Store

Neiman Marcus is taking omnichannel retailing to a whole new level by integrating payment technology into its already successful store app.

The NM Mobile Wallet is the first deployment of a mobile wallet capability created specifically for a retail card partner, enabling customers to quickly and easily make in-store purchases at Neiman Marcus Group stores without their physical credit card. Consumers can enjoy this simplified payment function with transaction authorization and information technology supported by Capital One.

Washington, D.C. – Retailers looking forward to consumers receiving their tax refund checks this year may be setting themselves up for disappointment. According to a new survey from the National Retail Federation (NRF) and Prosper Insights & Analytics, close to half (47%) of the 66% of Americans expecting a tax refund this year plan to save it.

As Macy’s undergoes aggressive changes to better compete in an omnichannel retailing world, the company reported a decline in profit for the fourth quarter.

For the quarter ended Jan. 31, profit fell to $793 million from $811 million. Per-share earnings were $2.26 a share, up from $2.16 a share a year earlier. Same store sales grew 1.7% Revenue increased 1.8% to $9.36 billion.

Minneapolis – While some retailers have been raising their spending threshold for free shipping in the past year or so, Target Corp. is taking the opposite approach. Target now offers free shipping for orders of $25 or more. The retailer said the price cut follows an enthusiastic response to its free-shipping offer during the holiday shopping season.

That is half the $50 minimum Target previously required for free shipping. The free rate applies to standard shipments that take three to five business days to arrive.

Target is raising the stakes in the free online shipping game by undercutting not only Walmart but now also Amazon.com.

Target announced it has lowered the threshold for free shipping on online orders to $25, making it among the most competitive among major retailers. Its previous free-shipping minimum was $50, which placed it in the higher end of the spectrum.

Los Angeles – Frederick’s of Hollywood is reportedly closing at least 31 of its 93 stores as part of a broader re-engineering effort. According to the Wall Street Journal, Great American Group is overseeing liquidation sales at 31 stores, including the flagship location in Los Angeles.

Seattle – Amazon.com is not the devil by any means, but the e-commerce giant is reportedly interested in “wearing” Prada and other high-end brand names on its site. According to Bloomberg, Amazon is in the midst of a major push to become a player in the word of designer fashion retailing.

Amazon.com is looking to push farther into the category of high-end couture, according to a new report from Bloomberg.

The news service reports that Amazon has been embracing more profitable designer fashion by selling clothing, shoes, handbags, and accessories from pricey brands with luxe reputations.

Earlier this year it was announced that the Internet retailer will be a sponsor of New York Fashion Week this summer. Amazon reportedly also signed a multiyear deal this month to sponsor India Fashion Week, according to Women's Wear Daily.