News

Embattled department store retailer gets fresh cash infusion from owner
As it heads into its most important selling season, Sears Holding Corp. is receiving another cash infusion from its CEO and largest shareholder. Sears is borrowing $100 million from units of CEO Eddie Lampert's hedge fund ESL Investments for "general corporate purposes," according to a regulatory filing. The new infusion brings the total of Lampert's outstanding loans to Sears to $499.4 million.
Shop.org Takeaway: Three steps to next-gen personalization
Consumers are becoming more digitally influenced on a seemingly daily basis — but omnichannel retailers find themselves hard-pressed to keep up the pace. Retailers need to meet their needs across all touchpoints, and create a frictionless shopping experience despite where the shopping journey starts and ends.

Study: Gens Y & Z prefer credit cards over other forms of payments

Following suit of older generations, younger shoppers want to pay for purchases with credit cards. Specifically, Gen Z (ages 18-24) and Gen Y (ages 25-34) are comfortable using credit to make purchases, and overwhelmingly prefer credit cards to monthly payment options, according to new data from Vyze, a provider of cloud-based financial technology solutions.
Joplin power center changes hands

Chase Properties has acquired North Point Shopping Center in Joplin, Missouri, from Kimco Realty Corp.
What Retailers Need to Know About Their Energy Bill — and How to Lower it

Energy is the fourth largest in-store operating cost for retailers, with the average 50,000-sq.-ft. retail building spending around $90,000 each year on energy costs. Retail building managers are constantly trying to better regulate their buildings’ energy costs, so understanding where those charges come from can be extremely beneficial.
Fast-growing Dutch retailer to bring womenswear store concept to U.S.

Suistudio specializes in suits — but it's not dressing men. Based in the Netherlands, the online women's apparel retailer is set to open its first U.S. store at the end of October, in New York City. The merchandise mix will emphasize no-fuss silhouettes that promise an "impeccable" fit and put a modern twist on the notion of power suiting — with in-store, while-you-wait tailoring available. In addition to suits, the mix includes shirts, dresses, and evening wear.
Report: Online giant testing its own delivery service

Amazon’s new program could give carriers like United Parcel Service and FedEx a run for their money. The online giant is experimenting with a program that rivals services handled by longtime partners UPS and FedEx. Specifically, it is dabbling in a program designed to make more products available for free two-day delivery and relieve overcrowding in its warehouses, according to Bloomberg.
Former GNC exec to head up auto parts retailer

Jegs Automotive Inc. has appointed a veteran marketing executive as its new chief executive. The family-owned high-performance auto parts retailer on Wednesday announced it has appointed Jeffrey Hennion as its new CEO, effective Oct. 16. Most recently, Hennion served three years at GNC Holdings, where he was executive VP, chief marketing & e-commerce officer. He resigned in June.
Gifting retailer to launch ‘voice-activated’ shopping

1-800-Flowers.com continues to embrace the conversational commerce game. The gifting brand is preparing to launch a program that will enable its customers to place orders via Google Assistant on their Android phones and iPhones. Using their voice or text, they can access a menu of gifting categories, and place orders for delivery nationwide. The service also enables users to specify same-day delivery or schedule a gift’s arrival for a future date.
Amazon reportedly pursuing partnership with European retailer

Is Amazon looking for a supermarket partner in Europe? Privately held French supermarket operator Leclerc has been approached by Amazon over possible logistics partnerships, reported Reuters. “Yes, we have been approached by Amazon,” Michel-Edouard Leclerc, who heads the company, told Reuters.
First Look: Nordstrom Local, West Hollywood, Calif.

Nordstrom has unveiled its new retail concept, Nordstrom Local. Located in West Hollywood, Calif., the 3,000-sq.-ft. store offers all sorts of services, including on-site tailoring, personal stylists, buy-online-pickup-in-store, manicures — but has no dedicated inventory. Eight fitting rooms (associates can transfer requested merchandise from Nordstrom stores or its website to Nordstrom Local for try on) surround a central meeting space.
Small retailer with devoted fans is closing its doors

A New England-based retailer that has the distinction of being the first curtain catalog company is closing up shop. Shareholders of The Fitzpatrick Companies, whose subsidiaries include Country Curtains, voted Wednesday to liquidate the 61-year-old business. Country Curtains will begin liquidating operations immediately, and a going-out-of-business sale will be launched in its 19 retail stores (and website) starting on Oct. 5. The stores will close by the end of the year.