Mass Merchant

Nordstrom’s decision to stop carrying the Ivanka Trump brand continues to generate controversy.      On Thursday, Kellyanne Conway, counselor to the president, endorsed the first daughter’s products during an appearance on the television show, “Fox & Friends,” saying, “Go buy Ivanka’s stuff … It’s a wonderful line. I own some of it. … I’m going to give a free commercial here. Go buy it today. You can find it online.”  

Facebook is scaling back its first big brick-and-mortar retail push.   The social media giant is closing approximately 200 of its 500 Oculus virtual reality (VR) pop-up stores operating in Best Buy locations across the United States, Business Insider said.    Facebook launched the program in 48 stores last May, and the technology — which was available for demonstrations and sales — was rolled out to 500 stores in August, Engadget said.  

A less than stellar holiday season for U.S. department stores has led Moody's Investors Service to revise its forecasts downward for the sector's operating income.   In its new report, the rating agency said it now expects 2016 aggregate operating income to decline 18%, rather than 11%, and for sales to also decline in the year ahead.  

Sears Holding Corp.’s chairman and CEO Eddie Lampert and the company's board settled a lawsuit alleging that the chief executive benefited from a spin-off deal.   The lawsuit was brought on behalf of Sears and against Lampert, other Sears directors and Seritage Growth Properties, the real estate investment trust established to acquire 235 of the struggling chain’s best stores, reported Reuters.  

Target is prepping for another program aimed at start-ups, specifically those focused on health and wellness.   The new program, called “Target Takeoff,” supports health- and wellness-related start-ups through a “mini-accelerator” effort that will help young companies develop and connect with the major retailers in town.  

Dollar General has unveiled its smaller-store concept, called DGX, in Nashville, Tennessee. A second location is set to open in Raleigh, North Carolina.    The new store, which features 3,400 sq. ft. of selling space, is designed to serve urban shoppers in a convenient, easy-to-shop format. The merchandise mix is geared toward instant consumption and includes a beverage bar, coffee station and grab-and-go sandwiches.  

The National Retail Federation’s economic forecast for 2017 is a mostly positive one.   The association is projecting that retail industry sales, which exclude automobiles, gasoline stations and restaurants, will grow between 3.7% and 4.2% over 2016, roughly in line with last year’s 3.8% increase.     Online and other non-store/online sales, which are included in the overall number, are expected to increase between 8% and 12%.  

CVS Health on Thursday reported record fiscal fourth-quarter and full-year 2016 results   Net revenues for the three months ended Dec. 31 increased 11.7% to $46 billion, up from $41.1 billion in the year ago period.