eCommerce

By Frank Layo, Kurt Salmon

First the bad news: The chronic congestion tying the West Coast ports in knots is on track to cost U.S. retailers some $7 billion this year, and losses could total nearly $37 billion by the end of 2016.

And the good news? At the moment, there doesn’t seem to be much to speak of.

Apple is reportedly planning an overhaul of its once ground-breaking retail stores.

When Apple first opened retail stores 13 years ago, it set out to change retailing in everything from the product displays to the wireless point-of-sale devices and its Genius Bar tech support. The approach was innovative and widely successful.

Armonk, N.Y. - Consumers headed online for their Valentine’s Day shopping this year. According to IBM Digital Analytics Benchmark data, during Valentine’s week (Feb. 7 – 13) online shopping rose 10.2% from the same period in 2014.

In addition to overall sales, consumers ramped up their shopping efforts the week leading up to Valentine’s Day. Growth was seen in key verticals including:

Despite reporting a boost in fourth-quarter profits, Groupon says the impact of foreign exchange rates will affect first-quarter performance.

The e-commerce company posted fourth-quarter profit of 6 cents per share, up from 4 cents a share a year earlier. Revenue increased 20 percent to $925 million from $768 million.

New York -- Fast-growing VF Corp. continues its aggressive expansion. After opening 75 stores in the fourth quarter, the company plans to open a total of 150 stores this year.

VF, whose banners include Timberland, The North Face, Vans, Wrangler, Lee and Nautica, has long been known for selling products through other retailers. But in recent years it has stepped up its direct-to-consumer business via aggressive store expansion, and the channel is steadily accounting for a larger percentage of sales.

Puerto Rico is home to many retailers’ most productive units and now Saks and Nordstrom are looking to get in on the action when they open their first locations next month in the island’s new Mall of San Juan.

The mall is set to open March 26, two and a half years after breaking ground, and will contain a 138,000-sq.-ft. Nordstrom and a 100,000-sq.-ft. Saks. The property also includes a hotel and a casino.

Brampton, Ontario — Shoppers Drug Mart, which was acquired by grocer Loblaw nearly a year ago, is testing the sale of fresh foods in select locations, according to published reports.

Tapping into Loblaw’s strengths and expertise, the Canadian pharmacy retailer is piloting the sale of fresh food in six locations, including fresh produce and meats.

After opening 75 stores in the fourth quarter and with expectations for 150 units this year brand powerhouse VF Corporation has emerged as one of the nation’s fastest growing retailers.

VF is best known for brands such as The North Face, Vans, Timberland, Wrangler, Lee and Nautica that are sold through other retailers. However, rapid store expansion in recent years has seen the direct-to-consumer business steadily account for a larger percentage of sales.