News

Study: Most consumers believe their payment data is at risk
Consumers across the globe agree that volume of criminals trying to steal their credit and debit card data is increasing — and retailers aren’t equipped to fight back. This was according to “Consumer Payment Card Data Security Perceptions, from Transaction Network Services (TNS). The study interviewed 1,037 U.S. adults, 1,002 Australian adults, and 1,010 U.K. adults between May 4-May 8.
Toy retailer’s concept store steps up digital game
Toys “R” Us is pulling out the stops to engage its in-store shoppers. The toy retailer describes its concept store in Langley, British Columbia, as “the evolution of our digital future.” To maintain this reputation, Toys “R” Us is partnering with Cineplex Digital Media, and adding an in-store digital signage and kiosk network.

J.C. Penney appoints former Walmart exec as CFO

J.C. Penney has a new finance chief. The department store retailer named Jeffrey Davis as executive VP and CFO. Davis will report to Marvin R. Ellison, Penney’s chairman and chief executive officer.
Nourishing food retailers with profitable growth

The recipe for success in food retail is changing at breakneck speed. Economic drivers, such as commodity deflation, make revenue growth difficult. At the same time, demographic trends – including the rise of both millennials and centennials – undermine tried-and-tested business models. And now they are faced with the game changing move by Amazon with its planned acquisition of Whole Foods.
Study: Consumers are reigning in back-to-school budgets, visits

Families are keeping back-to-school shopping — and spending — simple. Nearly two-thirds of families budgeted $250 or less for all their back-to-school needs, with only a quarter indicating they will spend between $251 and $500. With tight budgets, families are focusing on price and selection when it comes to buying goods for their youngsters.
Walmart amps up strategy for upcoming Chinese e-commerce festival

Walmart is making big moves to ensure that it can serve Chinese shoppers efficiently during a crucial timeframe. The discounter is further integrating its platform, supply chain and customer resources in China with partner JD.com — efforts that will prepare the companies to serve shoppers during the launch of the first JD-Walmart 8.8 omnichannel shopping festival on Aug. 8. The event will offer savings across all the different JD and Walmart channels, and reward customers for shopping multiple touchpoints.
Michael Kors snags luxe shoe brand for $1.3 billion

Michael Kors expects its newest acquisition to give it a stronger hold in the luxury sector. The brand, which built its reputation on lines of high-end apparel, handbags, shoes and fashion accessories, has acquired luxury shoemaker Jimmy Choo for approximately $1.350 billion. The transaction, which is expected to close in the fourth quarter of 2017, has been approved by the boards of directors of both Michael Kors and Jimmy Choo.
Walmart marketplace expands breadth of merchandise

Walmart is streamlining how its third-party suppliers connect with its marketplace. Acenda announced Wednesday that it has integrated with Walmart.com's global marketplace, connecting Acenda store owners and third-party sellers with Walmart's significant customer base. Acenda now helps retailers and brands optimize their product listings across major marketplaces including Walmart, Amazon, Google and eBay as well as leading retailers.
Discounter ups the ante on hydrogen fuel cells for lift trucks

Walmart is stepping up efforts to drive energy efficiency across its distribution network. The discount giant is adopting fuel cells and hydrogen stations from provider Power Plug — a move that will bolster its energy efficiency at up to 30 more locations. Walmart already has Plug Power fuel cells installed at 22 distribution centers, according to USA Today.
Investor to nation’s largest bookstore chain: ‘Sell yourself!’

One investor wants Barnes & Noble to embark on a new chapter — with a new owner. Activist investor Sandell Asset Management issued a letter to Barnes & Noble’s board of directors on Tuesday, urging the company to sell itself. The firm believes a sale would not only improve the value of the brand, but protect itself against a volatile marketplace that continues to take a toll on sales.
VF Corp.’s profits climb, raises outlook

Strong performance across its largest global brands, digital and international divisions lifted VF Corp.'s profits in the second quarter. For the quarter ended July 1, VF Corp.’s revenue increased 2% to $2.4 billion, surpassing the Zacks Consensus Estimate of $2.289 million. While earnings per share dropped 11% to 29 cents, this still beat analyst expectations of 28 cents. The company’s direct-to-consumer division’s revenue increased 13%. Digital revenue jumped by 34%.
J.C. Penney ups the ante with Apple Pay

A department store retailer is stepping up its mobile game — in more ways than one. J.C Penney now accepts Apple Pay across all of its stores nationwide. This addition enables customers to electronically pay with multiple versions of the iPhone and the Apple Watch.