News

Michaels came up short in the third quarter, posting earnings and revenue that missed analysts’ forecasts.   The art and craft retailer reported third-quarter adjusted earnings of 40 cents per diluted share, missing analysts' estimates of 43 cents per share.   Net sales increased 5.0% to $1.227 billion, primarily a result of the acquisition of Lamrite West in February 2016 and sales from 19 additional stores.  

It’s official. Supervalu has finalized the sale of its discount supermarket business, Save-A-Lot, to an affiliate of Onex Corporation for $1.365 billion in cash.   In connection with the closing of the sale, Supervalu and Save-A-Lot have entered into a five-year professional services agreement whereby Supervalu will continue providing certain back office services to Save-A-Lot.  

Clearly, Cyber Week’s promotions helped to produce record-breaking sales — but discounts alone won’t drive success this holiday season.   Let’s face it — even the best deals won’t matter if a retailer doesn’t have those highly-coveted Hatchimals or wireless Dr. Dre Beats in-stock and ready to be shipped in record-time. This battle will be won with a focused staff that is trained and ready to handle an onslaught of incoming orders; respond to customer questions and efficiently fulfill orders.

There is one trend from the past couple of years shows no signs of stopping anytime soon: the movement of online-only retailers to the physical space. If anything, it’s gaining more momentum.      According to JLL’s Screens to Stores report, even more online retailers will experiment with physical locations in the next five years.    

Automated interaction is increasingly preferred by digital shoppers — and demand is increasing.   Specifically, 44% of shoppers said that if a company could get it right, they would prefer to use a chatbot or an automated assistant for customer service interaction — up four points from the 2015 survey. Half of them said that they would rather conduct all brand interaction via text/messaging, with 39% saying the digital-first methods are more effective than talking.  

With many Thanksgiving weekend digital purchases stemming from searches, the convenience of mobility is helping to drive this uptick.   That’s according to the “2016 Search Spend and Purchase Report,” from NetElixir. The study analyzing more than 11 million visits across four different verticals (food and gourmet, consumer electronics, apparel and gifting), starting on Thanksgiving Day through Cyber Monday.  

Luxury jewelry brand John Hardy evokes its Balinese roots at its new, multi-sensory flagship in Manhattan’s SoHo.   

Walmart has opened a 4,000-sq.-ft. format that offers pick-up of online grocery orders and a convenience store that also sells snacks, beverages and more.        The 4,000-sq.-ft. location, in Thornton, Colorado, also has on-site gaso-line station, the Denver Business Journal reported.  

Walmart has agreement to a settlement in a lawsuit that accused the retailer of discrimination against gay employees who were unable to get healthcare coverage for their same-sex spouses.      Under the terms of the proposed agreement, the discounter will set aside $7.5 million to compensate the employees affected by the denial of spousal benefits from 2011 to 2014.  (Walmart changed its policy to include same-sex spouses on Jan. 1, 2014, shortly after the Supreme Court legalized same-sex marriage.)   

Selfies are taking on a new role when it comes to driving the guest experience at Ulta Beauty.   With e-commerce sales jumping 59.1% for the third quarter — on top of 56.3% growth last year — the beauty retailer is pulling out all of the stops when it comes to evolving and upgrading the guest experience. Once of the company’s newest initiatives is its Glam Lab.