News

Children’s apparel retailer on the hunt for a new CEO
The CEO of embattled Gymboree Corp. is stepping down. The children’s apparel retailer said that Mark Breitbard will step down as chief executive once a successor has been named. He will assume the role of chairman of the board, effective February 1, 2017.
Beauty retailer preps to launch new holding company
Ulta Beauty is launching a new holding company. On Sunday, Jan. 29, the beginning of the company’s new fiscal year, the retailer will form a new holding company, Ulta Beauty Inc. “Business operations will not change, and the primary purpose of the reorganization is to create a more efficient corporate structure,” the company said. All outstanding shares of common stock will automatically convert, and the stock will continue to trade under the "ULTA" ticker.

Finish Line sheds specialty running stores division

Finish Line is cutting its losses related to its specialty running gear unit. The sportswear retailer has sold its JackRabbit specialty running store division to CriticalPoint Capital LLC, a Los Angeles-based private investment firm.
Another teen apparel retailer to close all stores

It looks like it’s curtain time for The Wet Seal. The struggling teen retailer is closing its 171 stores, along with its headquarters in Irvine, Calif., after being unable to obtain the necessary cash infusion or find a buyer, according to several media reports.
Starbucks Q1 sales growth disappoints

Starbucks posted disappointing sales growth for its first quarter, citing “a challenging environment for restaurant retailers overall.” The coffee giant reported that its consolidated net revenues increased 7% in the quarter, ended January 1, 2017, to $5.73 billion, less than analysts had expected.
Chief merchant of Hudson’s Bay and Lord & Taylor leaves for exec role at Stein Mart

A veteran retail merchandiser is leaving Hudson’s Bay to join Stein Mart. The off-price announced that MaryAnne Morin will join Stein Mart as president, effective Feb. 6, with responsibility for merchandising and marketing.
PayPal ends year with a jump in revenue

PayPal credits partnerships for its revenue increase during the fourth quarter, as well as throughout 2016. The digital payments company reported a 17% jump in revenue to $2.981 billion for the fourth quarter ended December 31, 2016. During this timeframe, PayPal also added 5.4 million active customer accounts; and 1.8 billion payment transactions, an increase of 23%. The company also reported $99 billion in total payment volume (TPV), up 22%.
Modern furniture retailer opens largest store to date

Design Within Reach has opened a store in Portland, Ore., in an historic building that dates back to the end of the 19th century. The retailer opened in the city’s North Pearl District, in a circa 1890 two-story brick warehouse that originally served as a distribution center for pottery and housewares. "We're thrilled to be a part of the vibrant, evolving Pearl District and the opportunity to support the preservation of this historic building," says DWR president John McPhee.
Amazon’s new logistics plan set sail — on the ocean

Eager for more control of how its products are shipped, Amazon is now organizing oceanic shipments.
Layoffs at Abercrombie

Abercrombie & Fitch is in cost-cutting mode. The teen apparel retailer has let go 150 employees at its headquarters in New Albany, Ohio, Columbus Business First reported. The retailer said the layoffs were part of its “ongoing cost reduction initiatives,” according to the report.
H&M to debut shoppable runway show at Paris Fashion Week

For the first time, H&M shoppers will be able to purchase merchandise straight on the runway. On March 2, H&M is launching its ‘See Now, Buy Now’ show, which enables customers to log onto its site and purchase items from its H&M Studio collection immediately following its presentation during Paris Fashion Week. Merchandise will also be available in select H&M stores.
Report: Fraud, risk incidents rise in 2016

Fraud, cyber and security incidents escalated in 2016. That’s according to the “Kroll Annual Global Fraud and Risk Report,” which surveyed executives worldwide across multiple industries and geographies. The study noted that 82% of the respondents experienced a fraud incident in the past year compared to 75% in 2015.