Supply Chain & Merchandising

London -- Retailers worldwide lose a staggering $1.75 trillion annually due to the cost of overstocks, out-of-stocks and needless returns, according to new research from retail analyst firm IHL Group, commissioned by OrderDynamics.

Seattle -- Nordstrom may well be the first public company to have three presidents as co-presidents. The department store retailer on Tuesday announced that Blake Nordstrom, Pete Nordstrom and Erik Nordstrom have been named co-presidents of Nordstrom.

The new titles are, to a large extent, symbolic. The three executives will retain their current roles and responsibilities and will continue to serve on the Nordstrom board. There will be no change to their annual compensation.

St. Louis -- Build-A-Bear Workshop said its total revenue fell 5% in the first quarter amid harsh winter weather between Valentine’s Day and Easter in North America.  

The chain’s profit for the quarter, ended March 29, totaled a better-than-expected $8.3 million, compared with from $5.1 million in the year-ago period.

Total revenues were $93.4 million, less than expected, compared to $97.9 million in year-ago period. Revenue was also negatively impacted by fiscal 2014 having a 53rd week, the company said.

A major Canadian grocery chain has a new partner in its quest to improve its omnichannel capabilties.

Metro Inc. has partnered with XCCommerce Inc. to install XCCommerce’s Promotion Solution Suite in support of Metro’s omnichannel promotion and targeted coupon strategy.

Macy’s will finally unveil its off-price business model in the fall by opening four new stores in the New York City area under a name that might not be so unfamiliar to loyal customers.

Boca Raton, Fla. -- Office Depot Inc. on Tuesday reported a first-quarter net profit of $45 million, compared with a loss of $109 million in the year-ago period. Its results met analysts’ expectations.

The office supply retailer said excluding non-recurring items, including costs associated with the planned acquisition of Office Depot by Staples Inc. adjusted earnings per share were 13 cents, matching the FactSet consensus.

Ann Arbor, Mich. - Domino's Pizza has opened in its third new market so far in 2015, as the first Domino's store in the Republic of Georgia opened the capital city of Tbilisi. Domino's Pizza in Georgia is a joint venture between Turkven, Domino's master franchisee in Turkey, and Geo Pizza LLC, led by CEO Tea Shengelia.

New York -- NetSuite Inc., a provider of cloud-based financials, ERP and and omnichannel software suites, said that boardsports retailer Billabong International Ltd. selected NetSuite SuiteCommerce to help transform customer interaction with its brands through the implementation of a new global omnichannel platform.

The platform will be progressively rolled out across the retailer to provide a true omnichannel experience across its wholesale, retail and ecommerce operations.