Data & Analytics

Macy’s in big store closing move
Macy’s Inc. announced that it will close 100 full-line namesake stores as part of a wider effort to improve its business and succeed in an omnichannel environment. The move comes after six straight quarters of declining same-store sales. The department store giant said it plans to concentrate its resources on the best-performing locations, and to invest in those stores by adding new vendor shops, increasing the size and quality of staff and new technology.
Study: EMV pushing aside other payment priorities
Reducing credit and debit card fraud by implementing EMV chip card acceptance has become retailers’ top payment issue in 2016.

Amazon vet joins Target

Target Corp. has tapped another veteran of Amazon to join its supply chain team. The retailer announced that it has appointed Preston Mosier as senior VP, fulfillment operations, effective Aug. 14.
Sur La Table moves to make online shopping easier

Sur La Table has launched a new solution designed to ensure online shoppers are able to easily find the best product. The retailer of kitchen and table goods has deployed a tool from Edgecase (its ‘adaptive navigation solution”), which uses cleansed and enriched product attributes to make finding the right product online easier and more inspiring.
Ralph Lauren turnaround effort impacts Q1

Ralph Lauren Corp. swung to a loss in its first quarter as costs related to efforts to turn around its business cut into first quarter earnings. But it still managed to beat Wall Street expectations. The company lost $22 million, or 27 cents per share, versus net income of $64 million, or 73 cents per share, in the year-ago period. Revenue in the quarter was down 4% to a better-than-expected $1.55 billion.
Study: Self-service checkouts encourage theft
Video: Wal-Mart CEO, Jet.com CEO on ‘Squawk Box’

Doug McMillon, president and CEO of Wal-Mart Stores, and Mark Lore, co-founder and CEO of Jet.com, discussed Walmart’s acquisition of the online site and other industry topics on CNBC’s “Squawk Box.”
A resurgent Coach to trim department store distribution

The momentum at Coach Inc. continued in the fourth quarter, as the company reported healthy same-store sales growth at its North American stores and better-than-expected earnings.
Moody’s: This retail sector is on fire — even in physical space

The off-price retailer sector will continue to build momentum and outperform the apparel retail segment during the next five years. That’s according to a new report, "Off-Price Retailers Continue to Build Momentum on Value Appeal,” by Moody's Investors Service. Off-price retailers are anticipated to experience apparel revenue growth of 6% - 8%, outperforming the broader apparel segment by a collective 4% in the timeframe.
PetSmart takes in-store music to a whole new level

In-store background music isn’t just for the enjoyment of customers and associates anymore. PetSmart has selected Mood Media to take the audio experience to a whole new level with customized music designed to appeal not only to shoppers but also their four-legged friends.
Gap not looking great

Gap Inc. unveiled preliminary results for the second quarter that were not very promising as Banana Republic continues to bleed. The retailer said revenue and same-store sales slipped for the month of July, and for the second quarter, which ended July 30. Gap’s net sales for the quarter were $3.85 billion, compared with $3.90 billion for the second quarter last year.
Gap not looking great

Gap Inc. unveiled preliminary results for the second quarter that were not very promising as Banana Republic continues to bleed. The retailer said revenue and same-store sales slipped for the month of July, and for the second quarter, which ended July 30. Gap’s net sales for the quarter were $3.85 billion, compared with $3.90 billion for the second quarter last year.