News

Specialty jeweler steps up store expansion
Alex and Ani is ramping up its store growth. The Cranston, Rhode Island-based retailer plans to open 27 new locations in North America by the end of 2016, giving it a total of some 90 stores. With the majority of its stores located on the East Coast, Alex and Ani, which is privately held, is now looking further afield. It will make its Southern California debut this fall, in Orange County.
Report: Centers must consider new dining formats and leasing deals
Restaurants now dominate retail for 15% of all sales, a point ahead of grocery for the top area of expenditure. Now it’s time for the special conditions of retail leasing to dominate the minds of shopping centers owners and managers, according to CBRE experts.

Amazon puts toe in banking sector by selling student loans

Amazon Prime has added yet another item to its growing lineup of membership benefits: discounts on student loans. The online giant is teaming up with Wells Fargo to offer Amazon Prime Student members a discount on private student loans that are taken out through Wells Fargo Educational Financial Services, the largest private student lender among U.S. commercial banks. (Membership in Amazon Prime Student costs $49 a year, which is half the price of a regular Amazon Prime membership.)
Texas Sugar Refinery slated for 855,000-sq.-ft. mixed use project

The 26-acre property of the Imperial Sugar Refinery in Sugar Land, Texas, has been purchased by a developer that intends to transform it into a mixed-use facility comprising a hotel, apartments, and a 290,000 sq. ft. retail and entertainment center.
Party City taps former Ahold exec as new finance head

Party City Holdco Inc. on Thursday named Daniel J. Sullivan as CFO. Sullivan succeeds Michael A. Correale, who is stepping down as Party City CFO to focus on the newly created position of executive VP chief accounting officer and treasurer, effective Aug. 29. In his new role, Correale will be responsible for all of the company’s external financial reporting, treasury functions, banking and credit relationships.
Home remodeling boom is good news for retailers

With home prices on the rise, consumers are once again investing in remodeling and repair projects.
Fender amps up consumer choice
eBay marks big milestone in second quarter

eBay beat sales expectations in its second quarter, during which it also crossed an important threshold.

The online marketplace reported that it crossed the one billion live listings mark in the quarter, reflecting its efforts to expand the breadth of selection offered to consumers and the progress it has made on enhancing its shopping platform.

eBay reported net income of $435 million, or 38 cents a share, up from $83 million.
Target in smaller store urban push

Target Corp. is expanding its portfolio of smaller stores.

The chain expects to roll out 14 more of its smaller stores this year, including a 21,000-sq.-ft. location in the Queens borough of New York City, which is opening this week, according the New York Post.
Analysis: Unilever acquires online retail startup Dollar Shave Club

The Unilever-Dollar Shave Club deal reflects the growing importance of emerging brands, vertical integration, and the consumer direct route to market favored by new CPG market entrants such as Dollar Shave Club, Honest Co., and NatureBox.
What’s the connection between Donald Trump and American Apparel?

Politics can make for some strange bedfellows. Donald Trump’s campaign is reportedly using American Apparel to manufacture some of its campaign apparel merchandise, according to Fortune.
Radial preparing for happy holiday

At least one retail industry participant is expecting the 2016 holiday season to be prosperous. Omnichannel commerce technology and services provider Radial plans to hire an additional 550 workers in Reno, Nevada to support an expected 10-fold increase in demand during the upcoming holiday season. Radial operates fulfillment centers in Reno, which are in need of workers to help support its retail clients.