News

Department store retailer hires debt advisor
Hudson’s Bay Co. has brought in professional advice regarding its potential merger with Neiman Marcus. The Canadian department store company has hired a debt restructuring adviser, investment bank Evercore Partners Inc., to review the potential acquisition and provide Hudson’s Bay Executives with ways on how it could proceed without Hudson’s Bay assuming Neiman Marcus’ full debt, according to a Reuters report on CNBC.com.
Pay Programs: Retailers need to be informed and be proactive
As retailers continue to navigate challenging conditions, they need to ensure their people strategies and pay programs are flexible and supportive, not ridged and dated. What follows are different approaches to working through some of the difficult, but necessary, steps to improving retail pay programs to fit the basic actions some retailers must now take. Being Proactive Not Reactive

Amazon making inroads in sales of ‘e-commerce immune’ items

Shoppers are increasingly turning to Amazon for purchasing bulky goods that traditionally haven’t sold all that well online.
Retailers in big push to uphold debit swipe fee reform
Struggling department store chain to replace CEO

There’s been a shakeup at Bon-Ton Stores. The department store retailer announced that Kathryn Bufano, president and CEO, will leave the company when her contract expires on August 25. She will be succeeded by William Tracy, currently the retailer’s COO. He will be Bon-Ton’s fourth chief executive since 2012.
Amazon seeks to one-up Walmart on free shipping

The free shipping wars seem to be heating up again. In a posting on its website, Amazon said it has lowered its free shipping minimum for non-Prime members on eligible items to $25. Merchandise will be delivered in five to eight business days. It’s the second time this year that Amazon has made it easier for shoppers to qualify for free shipping. In February, the online giant reduced its minimum order amount from $49 to $35.
Party City tops estimates; to launch new marketplace

Party City on Tuesday announced earnings and revenue that topped expectations, and said it would launch an online marketplace for party services.
Actress opening second store

Sarah Jessica Parker is expanding her brick-and-mortar retail business. The actress, producer, and designer will open her second freestanding store, in Las Vegas. The SJP by Sarah Jessica Parker store will be located at the Bellagio Resort & Casino and open this summer.
Specialty retailer exploring long-term capital restructuring

Nine West Holdings is taking action to deal with its debt.
Could this be JackThreads’ final ‘farewell?’

Online menswear retailer seems to be at the end of its rope — or in this case, thread. E-retailer JackThreads’ website is promoting its “Farewell Sale,” which is selling all merchandise, site-wide, for 70% — and all is final sale. While the company did not post any messages saying that the company is ceasing operations, the site’s “Work With Us” page has been closed.
Amazon continues brick-and-mortar push

The nation’s capital has been added to the list of cities that will soon feature an Amazon Books store. The newest Amazon Books location will reside in a 10,000-sq.-ft. space in the Georgetown section of Washington, D.C., The Washington Post reported. The store, which was formerly occupied by Barneys New York, will be Amazon’s 13th bookstore.
Staples names former HP security exec to lead cyber-security

An office supplies giant is taking steps to tighten up its data security strategies. Staples named Brett Wahlin as its chief information security officer (CISO), responsible for global enterprise-wide information, product and data security. He will report to chief technology officer Faisal Masud, who leads Staples Digital Solutions, a new organization within the company that combines its traditional IT and digital organizations.