Store Systems

A California-based teen retailer is launching a major expense reduction initiative in the wake of disappointing second quarter results.

On a day when his company reported its fifth straight quarter of sales declines, the CEO of Barnes & Noble sounded a positive note, telling the Wall Street Journal that the retailer is looking at a new store prototype.

Minneapolis – Target Corp. has renewed its exclusive ATM services agreement with Cardtronics Inc. The latest agreement, a long-term renewal, extends a relationship between the two companies that was established in 2001.

Cardtronics currently owns and operates approximately 1,800 ATMs in Target stores located in all 50 states. All Cardtronics ATMs at Target stores participate in the company's surcharge-free Allpoint Network. Banks will have a chance to participate in the Cardtronics ATM branding program at some Target stores.
 

Five Below is opening its largest location to date in its hometown.

Recently an investment banking colleague from HT Capital Advisors mentioned to me that Bombfell, an online men’s clothing subscription service, received $1 million in venture capital funding. Under the business model, an online personal stylist personally selects each member’s items and sends them to the shopper, with free shipping. The shopper only pays for what he keeps (he has 10 days to decide) and then returns the rest, also with no shipping charge. On the heels of that chat, I read about MM.LaFleur, a similar model for women.  

Philadelphia – Five Below is opening its largest location to date, in its home city of Philadelphia.
 
The extreme-value retailer, which targets tweens and teens with goods priced at $5 or less, will open a two-story, 13,000-sq.-ft. store next to its headquarters on Thursday, Sept. 10.

It’s a commonly held belief among retailers that their most valuable customer is the one that is a brand advocate, has the loyalty card, and makes purchases on a regular basis. But there is a problem with that assumption.

While the patterns of behavior from your most loyal customer can show you what is working, they can’t tell you anything about what isn’t working -- or how to fix it. In truth, a retailer’s most valuable customer is the one that comes into your store, browses, but then leaves before buying.