News

Subway gives itself a makeover — with tech updates
Subway is debuting a new look. On Monday, the fast-casual restaurant chain unveiled a new store design intended to provide a more distinctive and welcoming customer experience. The new "fresh forward" design, by FRCH Design Worldwide, includes a bright color palette, inspired by the hues of fresh vegetables, wall decor that communicates the brand's emphasis on quality ingredients, and more contemporary-looking seating. It also features such tech enhancements, such as self-ordering digital kiosks.
Bridal dress retailer closes all stores — and panic ensues
It's a nightmare for brides-to-be.

Amazon sets sights on new retail segment

Amazon has found a way to further expand its foothold in the grocery industry. The online giant has submitted a trademark application that will enable it to enter the meal kits business. The move will directly rival meal kit provider Blue Apron, according to CNBC.
New tenant specialist joins Mid-America

Retail tenant specialist Jack Gray has joined Mid-America Real Estate’s Minnesota operation. He will be representing clients that include Starbucks, Buffalo Wild Wings, and Mills Fleet Farm. Gray arrives at Mid-America from an internship on Cushman & Wakefield Northmarq’s industrial brokerage team. Gray is a recent graduate of University of St. Thomas, where he earned a Bachelor’s degree in marketing.
Sears gets fresh lifeline from familiar source

Beleagured Sears Holdings is borrowing yet more money from CEO Eddie Lampert's hedge fund. Lampert's hedge fund, ESL Investments, has agreed to give the company a new line of credit, valued at $200 million. On July 13, Lampert's ESL Partners entered into a short-term line of credit loans, which carry a maturity date of 151 days and a fixed interest rate of 9.75% per year, Sears said.
Regulatory Wrap-Up: Where state and national policy impact retail

Wages
Leader in secondhand luxury retail trying out brick-and-mortar

Online luxury consignment retailer The RealReal is taking its resale model into the physical space. The retailer plans to open its first-ever permanent retail location in November, in Manhattan's SoHo neighborhood, reported Women's Wear daily. The two-level, 8,000-sq.-ft. store will showcase items from all of The RealReal's categories and also feature contemporary artwork and a wall of Hermès bags, according to the report. It will host classes and discussions.
Update on True Value: Reports and rumors

Since reports began to swirl around a possible sale of True Value Company -- or at least the consideration of such a move – the Chicago-based co-op’s CEO has downplayed the story as “rumor.” But that hasn’t stopped rival co-ops from weighing in with their own statements.
Shoewear giant taps veteran to head up new division

The parent company of Famous Footwear is expanding its men's and international operations. Caleres has tapped Malcolm Robinson as president of the company’s new men’s and international division. He will oversee the strategic growth initiatives for the Caleres men’s brands, as well as expand an international footprint across the company’s portfolio.
Proposed border tax would hurt these retailers the most

Proposed reforms to the nation's tax code would hurt smaller retailers more than larger ones. The National Retail Federation said smaller retailers and their employees would suffer more than large companies under a proposal to create a border adjustment tax that would drive up the price of imported merchandise.
America's favorite home furnishing retailers are...

A wholesale club giant beats out specialty retailers to rank as the nation's favorite home furnishings retailer. Costco Wholesale Corp. is ranks first among consumers when it comes to home furnishings, according to a study by Market Force Information. With a composite loyalty score of 72%, Costco earned the top spot. But Ikea was a close second, with a score of 70%.
Sales fizzle in June

The beginning of summer didn't give a boost to consumer spending as retail sales fell for the second straight month. Retail sales unexpectedly slipped 0.1% in June after being unchanged in May. Sales were up 3.2% unadjusted from June 2016, according to the National Retail Federation, and 3.9% on a three-month moving average year-over-year. (The numbers exclude automobiles, gasoline stations and restaurants.)