News

Amazon is extending its Prime Now offerings to San Francisco members.   San Francisco Prime Now members can now get their hands on their favorite beauty, pet and grocery products in two hours or less.   Through partnerships with Peninsula Beauty, Pet Food Express and Sprouts Farmers Market, Prime members in neighborhoods spanning Oakland to San Francisco to San Jose can now shop tens of thousands of beauty and pet supplies, as well as healthy grocery products.   

RadioShack Corp. filed for Chapter 11 bankruptcy protection, its second filing in just over two years.   The electronics retailer said it would close approximately 200 stores, and evaluate options on the remaining 1,300 locations.      General Wireless Operations Inc. acquired the then-bankrupt RadioShack in April 2015, with a plan to turnaround the struggling company by co-branding the bulk of the stores with wireless carrier Sprint.   

A former executive at Gander Mountain has joined Jo-Ann Fabric and Craft Stores.    The retailer has appointed Jeff Csuy as senior VP, general merchandise manager, fabric and sewing. He will report to Sharyn Hejcl, Jo-Anne’s executive VP, chief merchandising officer, as he “leads the fabric and sewing team to drive innovation while putting the customer first in all decisions,” Hejcl said.  

Staples swung to a loss in its fourth quarter, and said it would close more stores in 2017.   The retailer reported a net loss of $615 million for the quarter ended Jan. 28, or $0.94 per share, compared to a profit of $86 million, or 20 cents per share, for the year-ago period. Adjusted non-GAAP earnings came in at $0.25 per share, one cent below the consensus estimate.  

It’s a done deal.   Private investment firm CriticalPoint Capital on Thursday that it has completed the acquisition of JackRabbit and its respective stores from The Finish Line.   The acquired company, its stores and e-commerce platform will continue to operate under the JackRabbit brand. At the end of 2016, there were 65 JackRabbit and JackRabbit-affiliated stores in 18 states.    

Digitization continues to take a foothold in supply chain, especially through the expansion of big data and the Internet of Things (IoT).   While innovation ranked highly, not all shippers have the same needs, according to “3PLs are Buzzing with Innovation: Bridging the Gap Between 3PLs and Shippers,” a report from JDA and SCDigest. The report tapped more than 100 shippers and 3PLs and reveals innovation from the perspectives of both shippers and logistics companies.  

Sears Holding Corp. narrowed its adjusted loss in its fourth quarter, but its revenue continued to erode and its debt obligations continued to mount.   Sales plunged 17% to $6.05 billion in the quarter ended Jan. 28, down from $7.3 billion a year earlier. Although the chain’s reduced store portfolio contributed to the decline, same-store sales fell 10.3%, driven by an 8% drop at Kmart and a 12.3% at Sears.  

The parent of Men's Wearhouse, Jos. A. Bank and other menswear brand reported lower sales in its fourth quarter amid soft traffic across its brands.    Tailored Brands reported sales of $793.3 million in the quarter ended Jan. 28, down from $826 million a year ago. The company closed 232 stores in 2016.    The company lost 62 cents a share in the quarter, more than expected, compared with a loss of $21.86 a share in the same period a year ago.   

Following a report that said the CIA is capable of breaking into Apple devices, the electronics company is working diligently to fix potential vulnerabilities.   On Tuesday, March 7, the WikiLeaks website said the CIA has an arsenal of malware ready to undermine security and encryption measures on Apple’s iPhones, Mac OS operating system, AirPort routers, according to ReCode.   

The Kroger Co. is preparing to break ground on its newest distribution center.   The grocer is investing $60 million in the 674,000-sq.-ft. depot, which will primarily be used to replenish Kroger’s direct-to-store distribution centers across the eastern half of the country, according to the Northern Kentucky Tribune.