Retail

New York -- The Millennial generation is expected to outspend Baby Boomers by 2017, yet retailers underestimate the size and purchasing power of this consumer, according to a new study by Berglass + Associates and Women’s Wear Daily.

The study, “What Happens When Millennials Get the Wallet,” found that retailers do not fully understand the needs of Millennials and are employing business strategies and tactics that do not apply to this customer.
 

Carter’s, parent company of Carter's and OshKosh B'gosh, reported record sales in the third quarter, driven primarily by growth in the company’s Carter's brand and international businesses.

“Our growth reflects the strength of our brands and multi-channel business model,” said chairman and CEO Michael D. Casey. “We believe we are well-positioned with strong product offerings and compelling promotions heading into the holiday season and expect to achieve our growth objectives this year."

Chico, Calif. – Online home improvement retailer Build.com has successfully deployed 360price, 360pi’s exact match solution, to monitor pricing for more than a billion permutations and combinations of products, categories and competitors. Build.com seeks to leverage real-time price intelligence to drive conversions, revenues and margins.
 

Sam’s Club opened four new 136,000-sq.-ft. units this week expanding its base of clubs to a record 630 units.

The new clubs are located in Owasso, Okla., Fall River, Mass., and Mansfield and Corpus Christi, Texas. The latter is a relocation of a 20 year old club. These opening follow the addition of three new clubs earlier in the month in Aiken, S.C., Romeoville, Ill., and Edmond, Okla.

New York – Grocery discounter Aldi has been ranked the world’s “simplest” brand, with simplicity defined as a clarity of purpose that enables employee innovation and customer service. According to the annual 2013 Global Brand Simplicity Index from strategic marketing firm Siegel & Gale, Amazon.com is ranked second, followed by Google, which came out on top this year. The report is based on a study of 10,000 consumers in seven countries,

Colgate-Palmolive announced that during the third quarter, new product launches in the United States contributed to volume growth across categories and market share gains were seen in categories such as manual toothbrushes, powered toothbrushes, mouthwash and body washes.

Louisville, Ky. — The Mansour Group has announced the sale of Pet Smart and TJ Maxx, a 49,410-sq.-ft. retail box on an outparcel located in a 218,000-sq.-ft. shopping center owned by Weingarten. The seller was a national real estate advisory group and the buyer was a private investor.

 The offering is part of a large portfolio of similar former Service Merchandise assets — all exclusively listed by The Mansour Group.

MISSISSAUGA, Ont. -- Samsung Electronics Canada is opening 90 new format Samsung Experience Shops  in partnership with Best Buy Canada and Future Shop.  
 
The company plans to expand its Canadian retail footprint with the opening of two freestanding Samsung Experience Stores, one in Edmonton, Alberta, and the other Richmond, B.C. All retail locations are scheduled to open by spring 2014.