Mass Merchant

New York -- Target chairman and CEO Brian Cornell has made some bold moves since arriving at Target last fall, but the most significant revelations concerning long term prospects will come in early March when the company hosts its first investor conference of the Cornell era on March 3.

Target chairman and CEO Brian Cornell has made some bold moves since arriving at Target last fall, but the most significant revelations concerning long term prospects will come in early March when the company hosts its first investor conference of the Cornell era.

Framingham, Mass. – The office supply retail vertical may be in for more consolidation. According to the Wall Street Journal, Staples Inc. and Office Depot Inc. are in the “advanced stages” of negotiations to combine the two biggest U.S. office supply chains.

Cincinnati -- In its first acquisition in 10 years, Macy’s has signed an agreement to acquire luxury beauty products retailer Bluemercury for $210 million in cash. The privately held Bluemercury, based in Washington, D.C., currently operates about 60 specialty stores in 18 states, primarily in prime street-level locations and urban lifestyle centers. Most locations include in-house spas. The company also operates an online business.

Target’s goal of becoming a leading omnichannel retailer will be led by Tesco veteran Mike McNamara who joins the company as executive vice president and chief information officer.

Luxury beauty retailer Bluemercury was acquired by Macy’s and the retailer announced another round of extensive personnel changes, including a new head merchant, that are designed to bolster its omnichannel, international and alternative format growth prospects.

Macy’s said it signed an agreement to acquire the 60 store specialty retailer Bluemercury for $210 million and would continue to operate the company as a standalone business while infusing existing Macy’s stores with the specialty retailer’s high end brands.

Wage and hour issues are ever present in the retail industry. Retailers are under constant pressure to control expenses, the largest component of which is labor. In 2015, local, state and federal officials are poised to take actions that will likely increase the cost of labor for retailers. Retailers must remain alert for these coming changes and begin planning for their impact long before their effective dates.

Fort Worth, Texas – As the New York Stock Exchange delists trading of its shares, beleaguered consumer electronics retailer RadioShack Corp. reportedly has at least two suitors interested in buying some of its stores. According to Bloomberg, both Amazon.com Inc. and Sprint Corp. are in discussions with RadioShack about possibly acquiring some stores, with RadioShack shuttering whatever stores were left.