News

Williams-Sonoma’s under-the-radar Rejuvenation opens in Chicago
A retailer that specializes in reproductions of classic home products and house parts is expanding under the ownership of Williams-Sonoma. Rejuvenation will open its seventh retail location on Nov. 21, in Chicago’s Lincoln Park neighborhood. The 6,000-sq.-ft. store is the retailer’s first Midwest location.
Coach’s new flagship includes customization services
Coach is celebrating its 75th anniversary year with an impressive new flagship on one the world’s most prestigious (and pricey) streets. The company has officially opened the doors to its “Coach House” flagship on Manhattan’s Fifth Avenue. The 20,000-sq.-ft., three-level space, designed by Coach executive creative director Stuart Vevers and Studio Sofield, showcases the brand’s modern luxury positioning. (A Stuart Weitzman flagship is located adjacent to it. Coach acquired the brand in 2015.)

Ikea expanding renewable energy portfolio with new technology

Ikea is rolling out biogas-powered fuel cell technology to more stores. The home furnishings retailer has installed the fuel cell systems at two Southern California stores, in Costa Mesa and Covina. In addition, Ikea also is planning to deploy fuel cell systems at its store in East Palo Alto, Calif., as well as its store in San Diego and in New Haven, Conn. (Ikea first deployed the technology over a year ago, at its store in Emeryville, Calif.).
Staples brand to disappear from the United Kingdom

A familiar U.S. retailer will soon make its exit from the U.K. retail scene. Staples, which operates some 105 stores in the United Kingdom, has agreed to sell its U.K. retail business and operations to Hilco Capital Limited. The use of the Staples brand in the U.K. will be phased out over the coming months. In May, Staples announced plans to explore strategic alternatives for its European operations as part of its new strategy.
Rise of the ‘Craft’ Brand

The age of the Goliath brand is over. Now, the Davids are running the show. The commerce landscape has consistently been dominated by giant corporations, whose brands became extremely broad, and in some ways generic. Think about Gillette. What does Gillette mean to you? Unless you get really excited about the prospect of a 37-blade razor, Gillette as a brand probably doesn’t mean much to you. It’s just the standard razor you buy at the store.
Best Buy shines in Q3 but Samsung recall may dent holiday

Best Buy Co.’s sales and profits in the third quarter topped forecasts, but the retailer warned that the recall of a Samsung smartphone is likely to impact its holiday sales. Best Buy’s profit jumped 55% to $194 million, up from $125 million in the same period a year ago. Adjusted for one-time expenses, it earned 62 cents a share, which was higher than the 47 cents analysts were expecting.
Walmart Q3 earnings top forecasts but sales lag; online accelerates

Walmart on Thursday posted third-quarter earnings that managed to beat analysts' expectations even as net sales fell short. The retailer also lifted the lower end of its full-year guidance and expressed confidence going into the holiday season. Walmart’s net income fell to $3.03 billion, or 98 cents per share, in the quarter ended Oct. 31, which was two cents more than the Wall Street consensus according to Bloomberg.
Forrester: Online holiday sales to increase 13%

U.S. online holiday spending will reach $112 billion in 2016, growing 13% over 2015. That is according to Forrester’s Holiday Retail Sales Forecast, which said that while online sales are 12% of annual retail sales, they jump to 16% of total holiday sales during the November and December months.
Kronos: Tips for reducing holiday turnover

The ghost of holidays past hangs over many retail workers, according to a new study of part- and full-time retail employees by Kronos. Forty-percent of employees in the survey said that their employer did not have enough staff in previous years to account for the amount of shoppers they receive at their store. And 53% are worried about getting burned out during the holiday season.
Target touts improved order pick-up — just in time for the holidays

Order pick-up is getting easier at Target stores. In a posting on its website, the retailer detailed several enhancements to make it quicker and faster for shoppers who order online and pick up in a store. To make it easy to spot designated Target team members who can help with orders, Target associates in 325 stores nationwide have been outfitted with “Order Pickup” t-shirts, and offer order pickup reusable bags be used throughout the holiday season and beyond.
Unusual bedmates: Neiman Marcus joins up with digital fashion disruptor

It’s an odd partnership — at least at first glance. Neiman Marcus has entered into a partnership with Rent the Runway, which lets shoppers rent pricey designer dresses as opposed to buying them (at a luxe store like Neiman Marcus).
The Source set to open in Q1

The 400,000-sq.-ft. retail component of The Source, a new mixed-use project in Buena Park, California will be opening next month, according to developer M+D Properties. A highlight of the center will be the nation’s first CGV Cultureplex, a concept pioneered by the South Korean movie theater chain CJ CGV. It features 4DX theaters with motion seats and ScreenX, which employs six screens and projectors to surround viewers with movie images.