News

Amazon’s drive-through grocery store in Seattle is beginning to come more into view.    USA Today reported that Amazon has applied for a liquor license for the store, which the Internet giant has yet to comment on.   

There’s a new sneaker on the scene that promises to make a slam dunk — albeit not on the basketball court.    Called “Pie Tops,” Pizza Hut’s new white-and-red trimmed kicks are more than a functional sneaker. Featuring geolocation technology that links to an app (separate from the chain’s mobile app), users can order a large two-topping pizza just by pressing a button embedded in the shoe’s tongue, according to Pizza Hut’s new 30-second commercial featuring retired NBA player, Grant Hill.

Saks Fifth Avenue is adding to its store fleet up north.   On Thursday, March 9, Saks Fifth Avenue Off 5th will open two new locations in the greater Toronto area,      “This month marks our one year anniversary of entering the Canadian market, and we’re excited to continue our Canadian expansion with two new stores in the GTA,” said Jonathan Greller, president, Saks Off 5th and Gilt.   

Walgreens Boots Alliance had named a successor to chief information officer Abhi Dhar, who announced in February his intent to resign in order to pursue an entrepreneurial venture.   The company has tapped Steve Turner, who currently serves as Walgreens VP service delivery and infrastructure, as VP and chief information officer, effective April 1.    

Wet Seal was acquired at a bankruptcy auction by a firm that plans to rebuild the brand.    Gordon Brothers announced it is acquiring the Wet Seal brand and its related intellectual property. The transaction is pending final court approval.   The acquisition includes the other brands within the Wet Seal portfolio, including Arden B, Blink, Chic Boutique and several others.   

J.C. Penney Company has added a former senior advisor to the director of the U.S. National Security Agency (NSA), to its board of directors.   Debora Plunkett is joining the Penney board. Possessing extensive experience in cybersecurity, information assurance and innovation in information security, Plunkett has a deep understanding of the data-driven and interconnected world of today, the retailer said.  

With 2017 in full swing, we’ve already had a taste of what’s in store for the retail industry in the year ahead. With innovation driving technological advancements and online consumers demanding speed and convenience, we’ve outlined three key trends that all retailers need to pay attention to in order to compete.   More chatbots

Costco Wholesale Corp.’s second quarter profit took a hit amid higher costs. And for the first time since 2011, the retailer is raising the cost of entry into its stores.   As of June 1, Costco’s annual fee for individual and business members will increase by $5.00, to $60. The executive membership fee will go up $10, to $120.    Costco’s net income for the quarter, ended Feb. 12, fell 5.7% to $515 million, or $1.17 per share, below Wall Street expectations.  

InvenTrust Properties has acquired The Shops at Town Center in Germantown, Maryland for $53.6 million. The necessity-based property boasts a strong lineup of food and beverage tenants including Baja Fresh, Chipotle, and Zoe’s Kitchen.  

CVS Health on Thursday appointed 26-year company veteran Jonathan C. Roberts executive to the new position of executive VP and COO.     As COO, Roberts, who currently serves as president of CVS Caremark, the company's pharmacy benefit management business, will have responsibility for consolidating operational oversight across CVS Health's unique suite of assets.