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  • Retail building in South Bronx sells for $17.5 million

    A 50,000-sq.-ft. former Rite Aid store in what was not long ago a rough-and-tumble area of the South Bronx has sold for $17.5 million.   The buyer, an affiliate of ABCAPSTONE plans to redevelop the building — now occupied by a Salvation Army Family Store — into as much as 100,000 sq. ft. of retail space.  

  • Billabong taps former Nordstrom exec as finance head

    Billabong has a new finance chief.   The board sports apparel retailer has named Jim Howell as CFO, effective June 12. He will replace Peter Myers, who has served in the role since January 2013. Howell has spent the last 10 years leading the finance and treasury division at luxury retailer Nordstrom. In this role, he oversaw significant cost management improvements, capital management and growth initiatives.  

  • Walmart CEO: ‘Associates are the secret to our success’

    Walmart is no stranger to innovation. However, when defining the secret to the company’s success, Walmart’s chief executive Doug McMillon said he just has to look within the company’s proverbial four walls.  

  • 7-Eleven opening futuristic store in South Korea

    Convenience-store giant 7-Eleven is opening a store that allows customers to pay simply with a wave of their hand.  

  • Sur La Table plots localization and expansion strategy

    High-end kitchenware retailer Sur La Table is on a mission to optimize its individual market and expansion strategies.   “Now, more than ever, being able to localize is the key to success,” said Ben Rosenfeld, senior VP of stores at Sur La Table.  

  • Walmart leverages ‘employees’ for last-mile delivery initiative

  • Whole Foods Market overcharging allegations resurface

    A lawsuit accusing a natural-foods grocer of overcharging customers has been revived.   On Friday, June 2, the 2nd U.S. Circuit Court of Appeals in New York City ordered Whole Foods Market to face a proposed class-action lawsuit accusing it of overcharging shoppers in New York City. The suit claims the chain overstated the weight of pre-packaged food in its supermarkets, according to Reuters.  

  • Five Below hits it out of the park in Q1

    Teens’ demand for slime to fidget spinners helped boost Five Below’s first quarter sales, comps and earnings well above expectations.   For the first quarter ended April 29, the teen value retailer reported a net income of $8.4 million compared to $6.8 million in the first quarter of fiscal 2016. Meanwhile, the chain’s sales increased almost 21% to $232.9 million, from $192.7 million in the first quarter of fiscal 2016.  
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