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eCommerce

  • Kite Realty, Inland Diversified to merge in $2.1 billion deal

    Indianapolis  — Kite Realty Group Trust has announced a definitive agreement with Inland Diversified Real Estate Trust. Under the agreement, Inland Diversified will merge with and into a wholly owned subsidiary of Kite Realty through a stock-for-stock merger. The transaction value is approximately $2.1 billion; the equity value is approximately $1.2 billion; and the enterprise value is approximately $3.9 billion — this based on the closing trading price of Kite realty’s common shares on February 7, 2014.

  • Ingenuity and NYSE REIT to combine on JVs

    Virginia Beach, Va. — Ingenuity Development has entered into a strategic alliance with a New York Stock Exchange-traded Real Estate Investment Trust (REIT) to combine forces on joint venture opportunities for retail and mixed-use projects in the Mid-Atlantic and the Southeast. Ingenuity will also see opportunities to work with its affiliate, Divaris Real Estate, to lease and manage completed projects.

  • Tractor Supply adds Luxottica exec to board

    Tractor Supply Company has elected Mark J. Weikel to the company's board of directors. Weikel currently serves as president and CEO of Luxottica Retail Optical North America.

    Prior to his various positions at Luxottica, Weikel served as COO of Lord & Taylor. Before Lord & Taylor, Weikel was president & COO of Victoria's Secret Stores at Limited Brands. Earlier in his career, Weikel held several management positions at the May Department Stores Company.

  • Kirkland’s sales rise in 2013

    Nashville, Tenn. – Kirkland’s Inc. reported improved year-over-year net sales for the full fiscal year 2014 but a decrease in the fourth quarter. Net sales increased 2.7% to $460.6 million during fiscal 2014, compared with $448.4 million the prior fiscal year, while same-store sales rose 0.5%.

    During the fourth quarter, net sales decreased 4.2% to $156.1 million, compared with $162.9 million in the previous fourth quarter. Same-store sales were flat.

  • Walmart doubles down on Canadian brick and mortar

    Walmart is marking the 20th anniversary of its entry into Canada this year by spending big bucks to expand physical stores and distribution capacity while devoting a much smaller portion of a $500 million budget to e-commerce.

    Walmart said it would spend close to $500 million in Canada this year with $376 million of that amount dedicated to 35 supercenter projects totaling one million square feet of new selling space. Walmart currently operates 389 stores in Canada, of which 247 are supercenters. By year end it expects to have 395 stores of which 282 will be supercenters.

  • Declining mall traffic affects Bebe in Q4

    Bebe Stores had a difficult second quarter. The company reported a net loss of $5.5 million, which it said was partly fueled by declining mall traffic and an aggressive promotional environment across the industry.

    Net sales declined 4.1% to $130 million, from $135.5 million reported for the second quarter a year ago. Same-store sales decreased 1.9%.

    CEO Steve Birkhold acknowledged challenges, but cited sequential improvement in same-store sales and holiday sales, as well.

  • HBC sites provide online personalization with True Fit

    Toronto -- Hudson’s Bay and Lord & Taylor are offering True Fit’s fit personalization technology to consumers at TheBay.com and LordandTaylor.com. In less than 60 seconds, consumers can create a True Fit profile at either site, enabling them to get a personal fit rating and size recommendation for every style.

  • Walmart west expands digital footprint

    The San Jose Mercury News is reporting that Walmart has expanded and already sizable footprint in the San Francisco bay area.
    Walmart opened a new office in Sunnyvale, about 30 miles south of its Global eCommerce and @Walmart Labs headquarter in San Bruno, that employs 500 people, according to the San Jose Mercury News. Details are still a bit sketchy, but click here for more from Walmart.com’s hometown newspaper visit.
     

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