News

Victorinox Swiss Army expanding its U.S. footprint
Photos: Ric Kallaher Victorinox Swiss Army has opened its doors in New York City’s Rockefeller Center. The store, the brand’s eighth location in North America, is designed to create an immersive experience into the company’s Swiss heritage amid a modern environment that reflects the company’s commitment to quality, functionality, iconic design and innovation.
Coffee giant in two new store expansion moves
Starbucks Corp. is growing its store portfolio on a couple of different fronts. The company plans to open stores under a new banner, called Starbucks-Reserve only, that will have a decidedly upscale twist. The brand will sell premium, small lot reserve coffee in a store space that is about twice the size of a typical Starbucks, zachs.com reported, and feature more of a café atmosphere.

Coach names new chief of Stuart Weitzman brand

Coach Inc. is appointing Wendy Kahn, as CEO and brand president – Stuart Weitzman, effective Sept. 13, 2016. Kahn will succeed Wayne Kulkin, the brand’s current CEO, who will become a consultant to Coach. She joins the luxury retailer from Valentino Fashion Group, where she currently holds the position of CEO – Valentino, USA and V.F.G., USA & Canada. Previously, Kahn served as senior VP of sales, marketing & retail for Valentino from 2006-2008.
Familiar name returns as CEO of Canadian Tire

Toronto-based general merchandise retailer Canadian Tire Corp. has made a sudden shift at the top of the company’s executive structure. Stephen Wetmore, who previously served as CEO of Canadian Tire from 2009-2014, has been named president and CEO of the company, effective immediately. Wetmore, who has remained on the board of directors after leaving the CEO post, will remain a director of the company but step down as deputy chairman of the board.
Another look at Amazon Prime Day

Amazon provided some general data on the performance of Prime Day, but now more information is coming out courtesy of several third-party analysis providers.
Old Poughkeepsie hospital site chosen for mixed-use community

A Victorian-era psychiatric hospital in Poughkeepsie, New York, that’s been out of commission for 15 years will be the site of a mixed-use community of 750 residential units and 350,000 sq. ft. of retail space. The old Hudson River State Hospital will make way for Hudson Heritage, a $250 million redevelopment project that will preserve key structures of the classic building in an attempt to create a thriving new community on the long-abandoned 156 acres.
Possible Rite Aid divestiture leads to buyer speculation

If Rite Aid needs to shed some stores for antitrust reasons in the wake of a merger with Walgreens-Boots Alliance, many experts expect one well-known drug store to step forward.
Target names new legal head

Target Corp. has named Don Liu as executive VP, chief legal officer and general counsel, effective Aug. 22, 2016. Liu will oversee all legal, corporate governance and government affairs matters for the company. He will report to chairman and CEO Brian Cornell and serve as a member of Target’s leadership team.
Major convenience store/gas station buyer emerges

Durham, North Carolina-based conglomerate The Guess Corp. is seeking to acquire at least 1,000 U.S. convenience store/ gas station units in the next 12 months. Working through a subsidiary, the company is looking to acquire an average of 100 branded and unbranded units per month. Upon completion of the purchases, Guess Corp. intends to re-brand and renovate the properties with innovative and sleek designs and provide enhanced CRM technology. The company has invited brokers to provide buyer representation with higher commissions.
The Children’s Place plans new credit card offering

Specialty apparel retailer The Children’s Place Inc. is partnering with marketing and loyalty solutions provider Alliance Data Systems Corp. to launch a new private label credit card.
Survey: Stores help drive healthy back-to-school spending

Consumers are not skimping on back-to-school spending this year, and brick-and-mortar retailers have extra reason to celebrate. The International Council of Shopping Centers (ICSC) has released its annual back-to-school consumer survey results, finding an overall uptick in spending. The average back-to-school (BTS) shopper is expected to spend $657, with 78% expecting to spend more than the prior year.
Study: Top retail brands include repeat performers

Results of the 2016 Harris Poll EquiTrend Retail Brands of the Year study show that some retail chains truly “get it” when it comes to engaging consumers. Two retailers were named top brand in their respective categories for the fourth straight year. These are the Home Depot, which has been named hardware and home brand of the year. And Kohls.com, which has been named online department store brand of the year.