eCommerce

Adidas is doubling down on its relationship with Kanye West, the outspoken entertainer who doubles as a fashion designer.    The German sportswear giant and West are expanding their very successful Yeezy brand via a new partnership called adidas + Kanye West. The Yeezy-branded collection will consist of footwear, apparel and accessories for all genders that will work across street and sport.    

Parents are increasing their back-to-school budgets, although overall spending is stagnant compared to recent years.   According to a new survey of 1,830 U.S. parents of elementary through college students by Mintel, 52% of respondents plan to spend more on back-to-school (BTS) shopping than in 2015. Only 4% plan to spend less, with 44% planning to spend the same. However, overall planned BTS spending dropped to $68 billion in 2015 after ranging from $73 - $76 billion annually from 2010-2014.  

Dick’s Sporting Goods was the victor on Thursday at the bankruptcy auction for former rival Sports Authority Holdings.    Dick’s bid $15 million for the brand name and other intellectual property, beating British-based Sports Direct International PLC’s $13 million bid, according to the Wall Street Journal.      Dick’s also had the winning bid at the auction for 31 Sports Authority store leases, for an additional $8 million, the report said.  

Macy’s may be flailing, but the department store icon can’t be accused of taking its struggles lying down. As sales were falling 7.4% in the first quarter of 2016 (numbers that represented the fifth straight quarter of declining sales, and capped off a year in which Macy’s stock prices were nearly halved at 47%), Macy’s continues moving forward on plans to roll out its new off-price Backstage concept – both as a series of new stand-alone stores and as in-store locations integrated inside a number of existing Macy’s stores.

Retailers like to promote and capture impulse purchases, but need to think longer-term for e-commerce.  

The world's largest retailer is throwing a counterpunch to Amazon's Prime service.    Walmart is offering a free 30-day trial of its ShippingPass program, which offers consumers  unlimited, two-day free shipping for a year.  Normally, the service costs $49 per year.   (So as not to feel left out, existing ShippingPass members will receive a free month of the service).  

It’s the end of an era for Belk Inc.   The retailer announced that Tim Belk will retire as CEO of the company in July 2016. Lisa Harper, CEO of Hot Topic, will succeed Belk as CEO, effective July 5.     The news comes less than a year after Belk, which operates 293 stores in 16 Southern states, was acquired in a $3 billion deal by Sycamore Partners. The private equity firm also owns Hot Topic.        

Belkin, which sells accessories for smartphones and tablets, has entered the brick-and-mortar space.   The company has opened a store newly renovated Terminal 6 at Los Angeles International Airport (LAX) with the Hudson Group.   The store, which features a charging station, sells a variety of accessories, including chargers, cables, and screen protectors. It carries about 100 skus.