Supply Chain & Merchandising

Tesco wants to help its customers check out faster.   The retailer has expanded its “Scan as you Shop” self-scanning program to 20 new locations — a move that makes the service available in a total of 350 stores.  

Lululemon Athletica Inc. revealed that it plans to open smaller, “local” stores amid results that disappointed Wall Street.   Net revenue for the quarter ended July 31 increased 14% to $514.5 million, just shy of projections, from $453.0 million in the year ago period. Total comparable sales rose 4%, with in-store sales up 3% and direct to consumer sales up 6%.   Net income increased 12.5% to $53.6 million.  

In the lead-up to this year’s holiday season, retailers across the country are already making important preparations in the hopes of increasing sales, improving customer service, and preventing data breaches. This last concern carries with it a heavy price tag; according to a survey from the Ponemon Institute, the average cost of holiday season cyber attacks is $8,000 per minute or nearly half-a-million dollars per hour.   

CBL & Associates and High Real Estate Group has the sold their joint interest in High Pointe Commons in Harrisburg, Pennsylvania, to Unison Realty Partners for $33.8 million.    The proceeds will be used by the sellers to retire secured loans totaling $17.4 million, and CBL will use its net proceeds to reduce outstanding balances on its lines of credit.  

Casey’s General’s Stores on Tuesday detailed an aggressive store expansion and renovation schedule along with record earnings for its first quarter.   The Iowa-based chain expects to build or acquire 77 to 116 stores, replace 35 existing locations, and complete 100 major remodels in its current fiscal year. Currently, it has 39 new stores under construction, including its first store in the state of Ohio.  

Walmart is eliminating about 7,000 back-office positions at its U.S. stores, with the majority of the cuts in the accounting and invoicing areas.     The move, which was first reported by The Wall Street Journal, follows a test earlier this summer at 500 stores in the West to cut three administrative accounting and invoicing jobs at each store.    

Changing footwear trends took a bite out of Genesco Inc.’s sales in the second quarter.   The company reported net income of $14.6 million, up from a year-earlier profit of $7.5 million.   Genesco’s revenue for the second quarter, ended on July 30, fell 4.6% to a less-than-expected $625.6 million.   Total same-store sales fell 1%, with a 4% decline at the Journeys Group.   

PREIT unveiled Amazon lockers at 15 of its mall locations on the East coast, making it one of the first mall owners to engage in this most physical of online-offline integrations.   Amazon shoppers who choose the locker option when checking out are notified when their packages have been delivered and can go to the locker location to pick them up. Consumers gain an added convenience and mall tenants get Web shoppers in their stores.