News

Hardware chain adds retail management platform
Hefner Ace Hardware knows the only way to expand its breadth is to have data integrity and inventory accuracy. This was not an easy task for the family-owned, independent operator. When the retailer become an official Ace Hardware dealer in 2015, the retailer tripled its inventory, “and now we maintain 30,000 SKUs,” said Jason Hefner, owner, Hefner Ace Hardware. “Because of that jump in our inventory levels, we needed a system that was better equipped for inventory management and analysis.”
Dick’s Sporting Goods details expansion; tops Q4 earnings, sales
The struggles — and exits — of former rivals has proved a boon for Dick’s Sporting Goods, which reported fourth quarter sales and earnings on Tuesday that beat the Street. The company also announced aggressive store expansion plans.

Sunrise Brands re-launches celeb clothing line

Thanks to a new partnership, shoppers once again can purchase Eva Longoria-designed apparel.
Veteran retailer takes control at Land’s End

Lands’ End has a new person at the top. Jerome Griffith has officially taken the reins as CEO of the company, and also joined the board of directors. He succeeds Joseph Boitano and James Gooch, who have served as co-interim CEOs since September 2016, when CEO Federica Marchionni was forced out after less than two years amid an ongoing sales slump.
Electronics/appliances retailer files Chapter 11; finds buyer

Indianapolis-based Hhgregg has filed for bankruptcy. The move came just days after the struggling chain announced a big wave of store closings. In a statement, Hhgregg said it has reached an agreement with an anonymous party to purchase its assets, which will allow the company to exit Chapter 11 debt free “with significant improvement in liquidity for the future stability of the business.” Terms of the agreement were not disclosed.
Brixmor buys grocery-anchored center in Ann Arbor

Brixmor Property Group has purchased Arborland Center, a 404,000-sq.-ft. center in Ann Arbor, Michigan, for $102 million. The center is anchored by Kroger and Nordstrom Rack and is situated between the University of Michigan and Eastern Michigan University.
Brixmor buys grocery-anchored center in Ann Arbor

Brixmor Property Group has purchased Arborland Center, a 404,000-sq.-ft. center in Ann Arbor, Michigan, for $102 million. The center is anchored by Kroger and Nordstrom Rack and is situated between the University of Michigan and Eastern Michigan University.
Report: Midwestern retailer to file Chapter 11

A value-oriented regional department store chain could be the latest retail casualty. Gordmans Stores Inc. is preparing to file for bankruptcy, Bloomberg reported, saying the filing could occur as soon as this month. Founded in 1915, the Omaha-based retailer operates 106 stores in 22 states.
KAI Total Pavement Management takes top honors

KAI Total Pavement Management was recognized with Best Parking Lot Pavement Project award at the 2017 National Pavement Expo awards ceremony. KAI Total Pavement Management received the award for the parking improvements project at the Target store in Kalispell, Montana.
Decron continues shedding retail properties

Decron Properties’ sale of a Target-anchored center in Las Vegas was its sixth disposition of an office or retail asset in the last two years as it continues to focus on multi-family housing projects. The $17.5 million sale of the Flamingo Maryland center near the Las Vegas Strip added to a bank of $300 million in proceeds realized from the deals that the Los Angeles based company put toward the purchase of seven multifamily communities in California.
Study shows influence of online on apparel sales

Changing consumer needs and an evolving retail marketplace contributed the U.S. apparel industry’s overall sales performance in 2016. Specifically, apparel dollar sales across women, men, and children grew by 3% last year, reaching $218.7 billion, according to the NPD Group.
Report: New robot controlled by user’s brain

The newest robots like the way their controllers think. Rather than relying on touch screens and artificial intelligence, a new “droid” is controlled by a user’s brain responses, according to ReCode.