News

Survey: Millennials don't mind if retailers track their purchases
Millennials are on board with personalized marketing. While security may be a concern with older shoppers, 70% of millennials are comfortable with retailers tracking their purchasing and browsing behaviors if it means they’ll receive more relevant communications, according to a report from SmarterHQ, a multichannel behavioral marketing platform.
Teen apparel retailer tops Street
Victoria's Secret loss is American Eagle Outfitters’ gain as the teen apparel retailer posted better-than-expected second quarter results, fueled by strong demand for its Aerie lingerie brand. Net income fell to $21.2 million, or 12 cents per share, in the quarter ended July 29, from $41.6 million, or 23 cents per share, in the year-ago period. Excluding restructuring and related charges of $0.07 per diluted share, the company’s adjusted EPS was $0.19 for the quarter, above analysts' estimates.

Target names new strategy and innovation chief

Target Corp. has tapped a McKinsey & Company veteran to head up its innovation efforts. The retailer appointed Minsok Pak as executive VP, chief strategy and innovation officer. He replaces Casey Carl, who left the company in May.
Kid-friendly restaurant chain testing a new look

Those dancing and singing animatronic characters may become a thing of the past at Chuck E. Cheese. The restaurant chain, famous for its triple combination of pizza, token-operated games and iconic (if now outdated) animatronic shows in which Chuck E. and his robot pals periodically sing and dance, has debuted a more modern look. And there is not a robot in sight.
FTC won't block Amazon's acquisition of Whole Foods Market

The biggest retail deal of 2017 has moved one step closer to completion. Shareholders of Whole Foods Market on Wednesday voted to approve the natural grocer's $13.7 billion acquisition by Amazon. The vote, which took place at Whole Foods' headquarters in Austin, Texas, was expected.
Teens losing interest in Facebook

Retail marketers take heed: Facebook's appeal is fading among teens even as two other platforms continue to pick up momentum.
Visa and Uber take rewards program nationwide

Uber riders nationwide can now earn credits for shopping and dining under a rewards program with Visa. The program, Visa Local Offers with Uber, launched last year in the San Francisco and Los Angeles markets. It has been relaunched to be made available to Uber riders across the country. The program is open to Uber riders with an eligible U.S.-issued Visa card on file in the Uber app.
Analysis: DSW on sound footing for better growth

Overall, this is a solid set of results from DSW which shows the company is moving in the right direction. The 0.6% rise in comparable sales may not be spectacular, but given it is the first time in over two years that the measure has been positive, we see it as an encouraging sign.
Survey: Parents in no hurry to finish up back-to-school shopping

Retailers still have time to capitalize on their second biggest selling season of the year. Only 45% of households with children in grades K-12 had completed of their shopping as of early August, according to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics. That’s down from 52% at the same time in 2013 and 48% last year.
eBay exec to head up Macy's brand

In a move that reflects the increased prominence of digital in traditional retail operations, Macy's has hired a senior eBay executive as president of its namesake brand. Hal Lawton has been named president of Macy’s, effective Sept. 8, 2017. He will be responsible for all aspects of the Macy’s brand, including merchandising, marketing, stores, operations, technology, and consumer insights and analytics. Lawton will report to CEO Jeff Gennette, who previously held the role before becoming chief executive in March.