News

The fast-growing Floor & Decor Holdings announced the closing of its initial public offering.   The company’s shares are now trading on the New York Stock Exchange under the symbol “FND.” Founded in 2000, Floor & Decor is a multichannel specialty retailer of hard surface flooring and related accessories. It offers a broad in-stock assortment of tile, wood, laminate and natural stone flooring along with decorative and installation accessories.   

New product introduction volume continues to increase. Lilly Pulitzer’s analytics platform helps hone in on the winners.   In an omnichannel world, customer satisfaction is key, which means merchandise must be available when shoppers want it. By extending its partnership with First Insight, Lilly Pulitzer will continue to use predictive analytics to make faster and more accurate design, buying and pricing decisions, and gain the insight needed to mitigate risks associated with new product introductions.  

Mobile ads and solid user growth across its suite of apps contributed to a strong first quarter for Facebook.   For the quarter ended March 31, revenue rose 49% to $8.03 billion, from $5.38 billion in the same period a year earlier. This surpassed analyst predictions of $7.83 billion. Based on this quarter’s earnings, Facebook has exceeded analyst expectations for eight straight quarters.   

A specialty retailer is taking steps to establish itself as a digitally driven brand.   The Paper Store is extending its partnership with Aptos. The retailer first joined forces with the technology provider when it deployed the Aptos Singular Commerce platform, an end-to-end cloud-based solution, to help support the opening of 50 new stores.    

A pure player specializing in activewear for plus-size women is making the leap to the offline world.   Juno Active will open its first store this spring, at Mall of America, in Bloomington, Minn. The 3,200-sq.-ft. space will offer activewear and swimwear, starting at size 14, along with intimates.     Originally called Junonia, the company was founded in 1995 as a catalog operation. It rebranded itself as Juno Active in 2012, and switched to an exclusive online model.    

No two stores are exactly alike at Warby Parker. But its new store in Los Angeles — the eyewear brand’s 50th outpost to date — is more unique than all the others.    Located on Melrose Avenue, the new Warby Parker pays homage to Hollywood’s moviemaking history. It even has its own green screen studio where customers can create their own mini-movies.  

Despite retailer efforts to deliver information, store employees still struggle to access the information needed to complete tasks. In fact, 75% of decision makers said their employees frequently ask about procedures that are documented, and 73% indicated that critical information is scattered across many disparate locations.

There’s been a couple of change in the C-suite of hand-made goods marketplace Etsy.   The company said chairman and CEO Chad Dickerson is stepping down, to be succeeded as CEO by board member Josh Silverman, effective May 3. Fred Wilson, who has served as lead independent director of the Etsy board, since October 2014, will succeed Dickerson as chairman.  

Two private equity firms are “actively” exploring a buyout of Staples, according to a report by CNBC.   Cerberus Capital Management and Sycamore Partners have emerged as the leading frontrunners pursuing a deal, the report said. While other private equity firms, including Clayton Dubilier & Rice LLC, Advent International Corp and Bain Capital LLC, held discussions with the retailer include, they appear to be walked back and are less interested in the deal.  

Hudson’s Bay Company is losing its finance head.   The retailer said that CFO Paul Beesley has made the decision to resign in order to return home to Canada to be closer to his family. Beesley will continue in his role over the next two months to ensure a smooth transition. His last day with HBC will be July 7. HBC has engaged an executive search firm to assist in recruiting a new CFO.