Data & Analytics

Boston -- Online retailer Wayfair has added 170,000 sq. ft. to its lease with Simon Property Group at The Offices at Copley Place in Boston's Back Bay neighborhood. In anticipation of a June 2014 relocation, the additional space brings Wayfair's new office space to a total footprint of 275,000 sq. ft.

Momentum to continue through 2014

By most accounts, 2013 was a banner year for IPOs. According to Renaissance Capital, a total of 222 companies went public in 2013, marking the best year for the IPO market since 2000. As we predicted in a previous article in Chain Store Age, the retail and consumer products industry played a key role in this IPO activity, accounting for 19 offerings and $8.3 billion in proceeds. This marked a notable increase from the number of offerings seen in 2012 (15) and 2011 (12), according to Renaissance Capital.

A 19% fourth-quarter same-store sales decline and a steep decline in profitability prompted RadioShack to announce the closure of 1,100 stores while CEO Joseph Magnacca maintained the retailer’s brand equity remains strong and a profitability plan is in place.

Village Super Market, which operates a chain of 29 supermarkets under the ShopRite name in New Jersey, Maryland and eastern Pennsylvania, saw net income fall 69% during the second quarter, compared to the same period in the prior year, driven in part by flat same-store sales.

Hanover Direct aligns back-end systems for seamless front-end experience

The days of independent silos, of when the Web, phone, catalog and store could be operated separately each with its own unique customer experiences and fulfillment processes, are behind us. Today’s “always connected” consumers demand a seamless experience from the retailers they shop, regardless of channel. And that seamless experience requires extensive alignment of systems on the back end as well as the front end.

ECRM compared retail circular advertising in February 2013 versus February 2014 and noted trends occurring across top retail chains. The home improvement retailers have continued to reverse trends from 2013. Home Depot doubled its page count and slightly decreased ads per page, leading to longer, slightly less dense circulars. Despite this, Home Depot still ran less than a quarter of the number of pages that Lowe’s ran, largely due to Lowe’s running three circulars to Home Depot’s one.

Hold department managers accountable for safety to promote better loss control

From mat management to the use of proper cleaning products, prevention is, of course, key to slip and fall management in retail stores. But there are two additional key areas that should be addressed — management communication and accountability. Indeed, sharing information and holding department managers accountable for results can reap numerous benefits for a company.

There is no place in today’s hyper-competitive retail marketplace for a poorly maintained store — providing a clean, comfortable and safe shopping environment is a priority for chains across the board. As retailers increasingly focus on their core competencies, they are letting experts take care of functions and services that fall outside those areas, including facilities maintenance.