Store Systems

Mattress Firm Holding Corp. is revving up its growth in fiscal 2015, with plans to open as many as 220 new stores this year.

Chain Store Age hosted its 51st annual SPECS 2015 conference on March 15-17, in Las Vegas. Here are three takeways from the conference concerning technological innovation in the store planning area:

1. Overflowing Shelves are the Enemy
For most brick-and-mortar retailers, having shelves chock full of merchandise with every possible variation (such as size and color) is the definition of successful merchandising. But in actuality, overflowing shelves leave store associates too busy to assist customers, who are left overwhelmed.

Mooresville, N.C. – Lowe’s Companies Inc. may have found the key to customer self-service. The DIY giant is rolling out new retail kiosks from KeyMe at select locations.  

The kiosks enable customers to safely store a “digital copy” of their keys in the cloud and create a spare copy at their local Lowe’s in under 30 seconds. The new kiosks will be able to copy car keys, both with transponder chips and those without. This is the first time car keys have ever been able to be copied at a self-service kiosk.

Michaels is looking to further bolster its omnichannel strategy in 2015 after reporting an 18% profit jump in the fourth quarter.

The CEO for the Michaels Cos., Chuck Rubin, said: "We achieved solid performance across categories and geographies as our customers recognized and responded to the improvements that we have put in place. As we look to fiscal 2015, we will continue to build upon our vision 2020 strategy to deliver a strong in-store and online shopping experience, increase our market share and expand our customer base."

Target Corp. has agreed to pay $10 million in a proposed settlement of a class-action suit related to the company’s 2013 data breach, according to court documents filed Wednesday.

New York -- Toys "R" Us is not going to renew the lease of its Manhattan flagship, according to various reports. The lease for the massive 110,000-sq.-ft. retail space, at 1514 -1530 Broadway, between 44th and 45th Streets, is set to expire at the end of January 2016. The ground floor of the prime space, in the heart of busy Times Square and with access to Broadway, commands a whopping $2,500 per foot per year in rent, with the second and third floors costing considerably less, according to CNN Money.

Time may be running out for Toys "R" Us shoppers to ride the Ferris wheel at the retailer's flagship store in Time Square.

Toys "R" Us will not be renewing the lease of its Manhattan flagship, according to various reports. The lease for the massive 110,000-sq.-ft. retail space, at 1514 -1530 Broadway, between 44th and 45th Streets, is set to expire at the end of January.

Value-oriented food retailer Smart & Final Stores Inc. plans to accelerate its expansion plans after posting double-digit sales growth in the fourth quarter.