eCommerce

New York City -- For every $100 in fraudulent transactions, retailers incurred a “true” cost of $230, according to a new study released Tuesday by LexisNexis Risk Solutions.

According to the study, retail merchants and financial institutions reported an overall decline in fraud rates and transactions while total retail sales rose. Consumers also experienced a decline in fraud losses overall but the average time it took to resolve fraud issues rose by 57% and the out-of-pocket costs of fraud rose by $244.

Uniqlo is popping-up all over Manhattan. As the prelude to the opening of its Fifth Avenue global flagship in October, the Japanese apparel retailer opened four temporary “Brand Shops” around the city. Each location is cleverly designed and smartly outfitted.

Dallas -- Neiman Marcus Group reported a fiscal fourth-quarter loss on debt-related expense and slightly lower margins, even as its revenue rose 11%.

For the quarter ended July 30, Neiman Marcus lost $61.4 million, compared with a year-earlier loss of $32.8 million. Excluding a $42.7 million after-tax loss on debt extinguishment, the adjusted loss was $18.7 million. Gross margin narrowed to 30.5% from 30.9%.

ATLANTA — Canada's importance to the retail industry continues to grow, made evident by the recent news that Office Depot has engaged ShopVisible, a leading provider of on-demand e-commerce, social commerce, and mobile commerce solutions, to launch the retailer’s new Canadian-facing e-commerce site.

Target and the Heart of America Foundation unveiled a completely redesigned library to students, teachers and parents at P.S. 299 Thomas Warren Field School last week in New York. Servicemen and women from local police and fire departments were on hand to help put the finishing touches on the space at an event that honored local heroes – Brooklyn police officers and fire fighters. Target presented one police officer and one fire fighter with a “Hero of the Heart Award,” which will serve as a special tribute to their dedication to service and the community. 

New York City -- Sephora is opening a store in Manhattan’s trendy Meatpacking District that will feature a completely mobile checkout system, Women’s Wear Daily reported. The 5,000-sq.-ft. store, which will not have a traditional checkout counter, is due to open on Sept. 16. 

The company plans to rollout the new system in some 50 locations by yearend, according to the report.

 

New York City -- British apparel retailer Acadia Group opened its second Topshop/Topman location in the United States, a three-level store on Chicago’s North Michigan Avenue. The space, which boasts some 35,000 sq. ft. of selling space, was previously was occupied by a Borders store.

Topshop will debut its third U.S. location, in Las Vegas, in March 2012.

Houston -- Stage Stores announced that Mike Searles has joined the company as president and COO of its South Hill Division, which is headquartered in South Hill, Va.

Searles will be responsible for all operations of the South Hill Division, including merchandising, planning and allocation, and store operations. He has served as chairman and CEO of Wilsons Leather Stores, and Factory 2-U Stores, in addition to holding senior executive level positions at several other national retail chains.

Northbrook, Ill. -- Oakbrook, Ill.-based Mid-America Asset Management said that Saks has signed a lease for 25,900 sq. ft. at Village Square of Northbrook in Northbrook, Ill., to open its third Saks Fifth Avenue Off 5th store in Chicagoland.

The store, which will unveil a new design, is slated to open in November.

Mid-America is the exclusive leasing representative for the 334,995-sq.-ft. shopping center located on Chicago’s North Shore.

New York City -- Winick Realty Group said that TJ Maxx has leased its first Wall Street location, in the heart of New York City’s Financial District.

The 32,000-sq.-ft. store, which spans two lower levels at 14 Wall Street on the corner of Broad Street, is slated to open in October.