Data & Analytics

In effort to dig out of its sales funk and rebuild its brand, Michael Kors plans to shutter more than 100 full-price stores.  

E-commerce fraud as a percent of sales dollars may be on the decline, however losses still account for billions of dollars.   This was according to the “Q1 2017 Global Fraud Index,” a report from Pymnts.com and Signifyd. The study measures and benchmarks innovations and trends that are reshaping the payments and commerce ecosystem.  

The interim CFO of Neiman Marcus has resigned after seven months on the job.   Michael Fung will step down from his position as the luxury retailer’s interim CFO and COO, effective June 30. Fung temporarily left his retirement to join the company on an interim basis in November 2016.   

Attracting — and sustaining — loyal online customers is no easy task.    However, retailers that offer innovative customer service tools, a variety of fulfillment options, and engagement solutions will successfully turn frequent browsers into loyal shoppers. These details were revealed in a new retail report from Radial and CFI Group.  

The parent company of Dunkin' Donuts and Baskin-Robbins has ended its hunt for a new chief financial officer.    Following a comprehensive search for a permanent CFO, Dunkin’ Brands has promoted Kate Jaspon to the position, effective June 5, 2017. Jaspon was appointed the company’s interim CFO when Paul Carbone left the position in April to become COO at a specialty retail chain. She will report directly to Dunkin' Brands' CEO Nigel Travis.  

Accenture is taking on its next innovation initiative.   The company announced on Wednesday, May 31, that it opened an innovation hub dedicated to the retail, fashion and consumer goods industries. The Accenture Customer Innovation Network (ACIN), which resides in Milan, Italy, bolsters the company’s existing fleet of innovation facilities in Bangalore, Chicago, Manila and Singapore.  

Despite a challenging retail landscape, J.Jill’s same-store sales growth and profits not only climbed, but topped analyst expectations.   For the first quarter ended April 29, the mall-based women’s specialty chain’s overall revenue increased 12.5% to $166.1 million — a jump from $147.7 million in the first quarter of fiscal 2016. This also beat analyst estimates at $162 million.  

Yes, it’s official. The robotics revolution is coming to retail, as it is in many industries. I know robots roaming store aisles probably still sounds like something from “Back to the Future,” however, within a decade, I’m confident they will be such a normal part of the store experience we will find it hard to imagine life without them.