News

Pier 1 protects brand with ‘poison pill’ plan
In addition to posting its earnings, Pier 1 announced a plan to protect the company from potential takeover bids. On Tuesday, the home decor chain announced a “Rights Protection Agreement,” which will protect itself from any single shareholder seeking to acquire a 10% stake or more, as summarized in an article in MarketWatch.
Pier 1 sales drop for Q2
Despite strong digital gains, Pier 1 is feeling the effect of soft store sales during the summer. Net sales for the second quarter for fiscal 2017, ended Aug. 27, 2016, decreased 6.7% to $405.8 million, compared to $435.0 million for the same period last year. Comparable store sales for the quarter decreased 4.3%. Gross profit also fell during the second quarter, hitting $145.0 million, compared to $154.6 million in the second quarter of fiscal 2016.

American Eagle names new executive VP, CFO

American Eagle continues to strengthen its management team to further drive its growth. Bob Madore has been appointed executive VP and CFO, starting Oct. 28. In his new role, Madore will oversee all aspects of finance, merchandise planning and allocation, and investor relations. He will report to American Eagle’s CEO Jay Schottenstein.
REI’s DC eyes ‘free energy’

Never mind going for the gold, REI has visions of platinum — LEED platinum, that is. Outdoor retailer REI has designed its distribution center to be ‘Net Zero Energy.’ By creating a facility that produces enough renewable energy to meet its own annual energy consumption requirements, REI hopes earns LEED Platinum status — the highest level in the U.S. Green Building Council’s (USGBC) rating system.
A speedy exit for Stein Mart CEO

There is a leadership change underway at Stein Mart. Dawn Robertson resigned from her position of CEO and company direc-tor. D. Hunt Hawkins, the chain’s president and COO, has been named interim CEO.
Bon-Ton boosts holiday team

The Bon-Ton Stores is getting its holiday team in place. The department store chain is eyeing 13,000 new associates to service customers across all store locations during the busy holiday season. Another 500 associates will fill positions across all of Bon-Ton Stores’ distribution centers and its e-commerce fulfillment center.
Aldi’s green DC translates into ‘gold’

Aldi’s sustainability efforts are gaining recognition. The grocer’s sustainable distribution center and regional headquarters in Moreno Valley, Calif., have earned LEED Gold certification from the U.S. Green Building Council (USGBC). Working alongside Graycor Construction Company, Aldi improved the design and materials used in the development of both buildings.
Putting employees first

The key to success is customer satisfaction. By arming itself with a fleet of “great personnel,” The Container Store is always ready to deliver top-notch store-level service. This message was delivered during “Doing Well by Doing Good — How to Build Trust and Win the Modern Customer,” a topic discussed yesterday at “Retail’s Digital Summit 2016.” The event, sponsored by Shop.org, a division of the National Retail Federation, was held in Dallas.
Understanding and Controlling Energy Costs in Retail
Walmart ups the e-commerce ante

Walmart’s next e-commerce power-play is reportedly in the works. In its latest move to compete against its online nemesis amazon.com, Walmart is reportedly ready to invest up to $1 billion in Flipkart, according to an article in Quartz.
Report: EU shoppers demand better online fulfillment

European online shoppers continue to be intolerant of poor service. As a result, retailers need to step up their game regarding shipping and fulfillment if they want to keep shoppers happy, according to the “JDA/Centiro Customer Pulse Report Europe 2016.” The study surveyed 8,190 adults online across the U.K., Germany, France and Sweden to learn their online shopping requirements.
Forever Flawless opens flagship at World Trade Center

Forever Flawless, a global skin care company that puts diamond dust in its creams, has opened a flagship store at Westfield World Trade Center in New York. The company, which claims to bring celebrity skin care methods to consumers, sells Black Diamond Age Defying Series, Pink Diamond Collagen treatments, and 24 Karat Gold therapy. Forever Flawless fields stores in Hong Kong, London, Madrid, Miami, London, and Syndey, among other locales.