News

As Sears Holdings Corp. continues to struggle to turn its business around, the chain announced it is exploring ways to expand distribution of its key brands outside its own stores. The troubled retailer also announced its CFO is leaving.

Sears lost $471 million in its first quarter, ended April 30, compared with $303 million in the year-ago period. Loss per share came to $4.41, or $1.86 adjusted for certain items. Analysts estimated a loss of $3.20 per share.

Empire Outlets is New York City’s first and only outlet center so it was only fitting that a contract related to the major project was consummated at the retail real estate industry’s biggest show.
 

Two events converged by 2010 that fundamentally changed how consumers shop and how retailers sell.
 
The first was that the world was enmeshed in a deep recession triggered by the collapse of financial markets in 2008. The second was that the world was going through a refresh cycle for consumer mobile phones. What happened next rocked the retail industry.
 

Guess Inc. swung from profit to net loss in the first quarter of fiscal 2017, missing analyst estimates for both net earnings and revenues.

The apparel retailer reported a net loss of $25.2 million, compared to net earnings of $3.3 million the same quarter a year earlier. Restructuring charges, a negative tax impact, and currency fluctuations helped push the retailer into the red.

Temperatures in the East will be somewhat similar to last year while the West will trend cooler than last year. Rainfall will be greater across the Northwest, meanwhile across the Ohio Valley and interior Northeast, we may begin to see the start of a long-term drying trend.

Criminals have reportedly been targeting some Walmart stores with credit card skimming devices illicitly placed on POS terminals.

According to the Krebs on Security blog, the skimmers are designed to overlay legitimate self-payment card readers manufactured by Ingenico and have been found at Walmart locations in Fredericksburg, Virginia and Fort Wright, Kentucky.
 

Forget South Beach. Brickell City Centre is shaping up as the place to be and be seen in the Miami area with 11 more retail tenants added ahead of a planned November opening.
 
Eleven new tenants have joined the 500,000-sq.-ft. Brickell City Centre retail development scheduled to open this November in an area of Miami developers of the project describe as underserved.
 

After months of anticipation, the 365 by Whole Foods Market discount store format has made its debut in the Silver Lake neighborhood of Los Angeles.
 

A 60,000-sq.-ft. Crayola Experience has opened at Mall of America, giving the massive shopping center yet another experiential component to generate traffic.
 
The Crayola Experience is a family attraction that features 25 hands-on activities inspired by Crayola products and technologies and there is also The Crayola Store offering the world's largest selection of Crayola products and unique souvenirs.
 

Specialty apparel retailer Express Inc. did not reach Wall Street expectations with declining profit and flat sales in a generally sluggish first quarter of fiscal 2016.
 
Net income slipped 1% to $12.9 million from $13.1 million in the same quarter the previous fiscal year. Outlet- and IT-related expense growth helped drive down profit.

Net sales stayed essentially flat at $502.9 million, compared to $502.4 million a year earlier. Same-store sales fell 3%, including a 1% dip in e-commerce sales.