Sales & Marketing

Kenneth Cole is closing all its stores in outlet centers.   The company plans to shutter its 63 outlet stores within the next six months, Bloomberg reported. The move will leave the brand with two brick-and-mortar stores, both full priced, with one in downtown Manhattan and the other in Arlington, Va.  

Lighting is fundamental to any retail store, whether that is for setting a scene and influencing how a brand is perceived, or even encouraging shoppers to make a particular purchase. However, if not managed correctly, it can be extremely expensive. In fact, lighting accounts for around 53% off all electricity consumption in a typical retail outlet, according to the U.S. Energy Information Administration.  

The CFO of Neiman Marcus has resigned after 15 months on the job.   Donald Grimes has resigned as COO and CFO of the luxury retailer, effective immediately. No reason was given for his departure. But in an SEC filing, the company said Grimes's resignation "was not the result of any disagreement regarding any matter" related to its "operations, policies or practices."   Grimes joined Neiman Marcus in June 2015, after a seven-year stint at Wolverine World Wide where he was CFO. 

Whole Foods Market is upping its game.   In the face of growing competition, the supermarket chain has been adding restaurants, bars and tap rooms to its stores, reported The Orange County Register.    In select locations in California, Whole Foods is adding in-store outposts of a popular fast-casual eatery, Mendocino Farms, to its stores.   

Nordstrom delivered a strong performance in its fiscal third quarter even as a hefty charge related to its Trunk Club business ate into its profit.   Total net sales rose 7.2% to a better-than-expected $3.5 billion from $3.2 billion a year ago, fueled by the shift of the company’s popular anniversary sale to the quarter. Same-store sales increased 2.4%, also more than expected. As it has done in recent past quarters, Nordstrom Rack outpaced the full-priced division, Net sales were up more than 10%, and same-store sales rose nearly 4%.

Will President-elect Donald Trump be good for Kroger’s business? The retailer’s stock has enjoyed a sharp rise since Trump was named the 45th president. 

As the country continues to nurse its emotional Election Day hangover, businesses, including retailers, are contemplating what policies from President Elect Trump’s agenda will be tackled first in an effort to “Make America Great Again.”   

Nike has upped its game in downtown Manhattan.    The athletic giant has opened a five-level, multi-sport category outpost in the heart of New York City’s SoHo neighborhood.