Supply Chain & Merchandising

Best Buy has been in the news a lot lately, with the scandal involving former CEO Brian Dunn and subsequent resignation of founder and chairman Richard Shulze on top of a fiscal year that saw the company’s GAAP loss widen to $3.36 cents per share and comparable-store sales slip 1.7%.

Understanding that an image overhaul was needed, Best Buy’s leadership went on the offensive at its annual shareholders’ meeting Thursday, ensuring attendees that the company would once again become the leader in consumer electronics and services.

Ottawa, Ontario -- Sears Canada has opened its largest Sears Home store at Pinecrest Shopping Center. The store will occupy 78,0000 sq. ft. and feature an expanded selection of furniture as well as the largest major appliance and mattress inventory of any Sears location.

"The opening of the Sears Home store at Pinecrest is another in a series of transformational milestones for Sears Canada," said Calvin McDonald, president and CEO, Sears Canada.

The timing of store openings in Mexico and Central America will be delayed by as much as 90 days due to what the company described as “process changes” that will increase the time required to open a store.

Wal-Mart de Mexico, S.A.B. de C.V. in an update to its expansion program disclosed to the Mexican Stock Exchange that it contemplated completing its 2012 expansion program 60 to 90 days later than originally planned. As a result new store openings for the current year will now range between 325 and 335 units.

Camp Hill, Pa. -- Rite Aid Corp. reported Thursday that it narrowed its loss in the first quarter to $28.1 million, from a loss of $63.1 million in the year-ago quarter.

Revenue rose 1.2% to $6.5 billion from $6.4 billion, edging Wall Street’s forecasted $6.47 billion in revenue.

Same-store sales increased 2.5% in the quarter.

Improved procurement processes at Gymboree are being eyed as a means for the specialty retailer to reduce expenses.

Gymboree, operator of 1,155 stores, said it retained the procurement management firm LogicSource after the firm conducted a detailed analysis of Gymboree’s procurement spend and identified significant savings opportunities. LogicSource will give Gymboree access to its broad-reaching procurement industry expertise, provide a comprehensive vendor network, and drive efficiencies through smart centralization, according to LogicSource.

As it celebrates its 50th anniversary this year, Wal-Mart Stores is being recognized for many achievements, not the least of which is its leadership in sustainability. On the green front, the chain has become a leader in best practices, with innovations that deliver positive results for consumers, communities and the company’s bottom line.

NEW YORK — New predictive analytics tools are being used at Saks Off 5th stores to help the company make smarter merchandising decisions.

The retailer is using tools provided by First Insight to generate insights from online customer engagement to help it make faster and more accurate buying and pricing decisions for new products, according to First Insight. The Pittsburgh-based company said the predictive analytics it generates will help the company reduce markdowns, out of stocks and mitigate the risks associated with new product launches.

Wading through retail technological innovations and deciding what options and applications should be top priority can be daunting at best. But the opportunities clearly outweigh the challenges, said Epicor Solutions’ Douglas Taylor in an interview with Chain Store Age.

What are the biggest operational challenges facing retailers today?