News

PetSmart is working with retail and design consultancy Fitch to develop a new store environment.   The test store will open in Highland Ranch, Colorado, in fall 2007, and will bring a fresh, new and engaging customer experience to the pet retail marketplace, PetSmart said.    

J. Crew Group is reportedly considering options for its popular Madewell brand, which it launched in 2006.   According to Reuters, the retailer, which has struggled with slumping sales in its namesake division, is working with investment bank Lazard Ltd. to assess multiple strategic and balance sheet options for Madewell, which operates some 108 stores.  

Ace Hardware Corporation reported a sales miss in the third quarter -- even if the co-op wasn't expecting to match its impressive results in the prior-year quarter.   “The third quarter of last year was the best in company history, with revenues up 13.2% and net income up 45.3%,” said John Venhuizen, president and CEO. “As a result, our expectation for the third quarter of this year was modest sales growth and lower net income. We whiffed on sales, but exceeded our net income budget for our domestic business."

Move over Amazon Marketplace — Crate and Barrel is moving onto your turf.   Crate and Barrel has expanded its online assortment by launching its own marketplace, which it describes as a highly curated selection of products based on Crate and Barrel's merchandising style. Shoppers enter the marketplace directly from the retailer’s website.  

As retailers expand their operations beyond their domestic borders, many are finding new opportunities to connect with new shoppers.    This message was delivered in “PayPal Cross-Border Consumer Research 2016,” a report from PayPal and Ipsos, a study that investigated the online domestic and cross-border shopping habits of more than 28,000 consumers in 32 countries.   

Staples Inc. on Thursday reported earnings for its third quarter in line with its expectations but revenue fell short of forecasts as same-store sales fell.   Earnings came in at $179 million, or 27 cents a share, compared with $198 million, or 31 cents a share, a year ago. Adjusted earnings came in at 34 cents a share.   Total company sales fell 4% to $5.4 billion in the quarter ended Oct. 29, missing estimates.  

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 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 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.).  

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.