eCommerce

Everything you know about the battle between online and physical retail is probably wrong, according to a report issued this week by CBRE.   As business analysts and retail pundits focus on store closings, they miss the fact that 58% of retail warehouse space was leased by brick-and-mortar retailers last. Only a third of such space was leased by pure-play internet sellers.  

Fashion retailer Express topped analysts' second quarter sales and earnings estimates amid surging e-commerce growth.   Express had a net loss of $11.8 million, or 15 cents a share, in the quarter, compared to net income of $10.1 million, or 13 cents a share, in the year-ago period. Adjusted per-share earnings came to 1 cent, better than the consensus for a loss of 1 cent.   

Walmart is determined not to cede any ground to Amazon.   In a partnership that takes direct aim at the online giant and its Alexa voice-controlled device, Walmart is teaming up with Google to offer hundreds of thousands of items available for voice shopping via Google Assistant, the search giant's online shopping platform that lives on its smart speaker Google Home and other smart devices. It will be the largest number of items currently offered by a retailer through the platform, according to Walmart.   

Target Corp. has tapped a McKinsey & Company veteran to head up its innovation efforts.    The retailer appointed Minsok Pak as executive VP, chief strategy and innovation officer. He replaces Casey Carl, who left the company in May.   

Millennials are on board with personalized marketing.   While security may be a concern with older shoppers, 70% of millennials are comfortable with retailers tracking their purchasing and browsing behaviors if it means they’ll receive more relevant communications, according to a report from SmarterHQ, a multichannel behavioral marketing platform.   

Victoria's Secret loss is American Eagle Outfitters’ gain as the teen apparel retailer posted better-than-expected second quarter results, fueled by strong demand for its Aerie lingerie brand.   Net income fell to $21.2 million, or 12 cents per share, in the quarter ended July 29, from $41.6 million, or 23 cents per share, in the year-ago period. Excluding restructuring and related charges of $0.07 per diluted share, the company’s adjusted EPS was $0.19 for the quarter, above analysts' estimates.  

International architects, developers and municipalities have been pushing the commercial real estate envelope for generations, and International design ideals are increasingly taking root in the U.S. From unique communal environments that encourage social engagement to innovative entertainment concepts and extreme sports, domestic developers are slowly but surely integrating formerly international elements into centers. In many ways, this is driven by consumer demand for an experience — coupled with increasingly dense markets that require more creative thinking. 

The biggest retail deal of 2017 has moved one step closer to completion.    Shareholders of Whole Foods Market on Wednesday voted to approve the natural grocer's $13.7 billion acquisition by Amazon. The vote, which took place at Whole Foods' headquarters in Austin, Texas, was expected.