News

Penney starts search for a new CFO
J.C. Penney's finance head of three years is leaving to "pursue other interests." Edward Record stepped down as CFO of Penney effective July 11, according to a regulatory filing. He will remain in an advisory capacity with the company until Aug. 7. Andrew Drexler, Penney's senior VP and chief accounting officer and controller, will serve as interim CFO while the retailer searches looks for Record's replacement.
No deal as teen apparel retailer decides to go it alone
Abercrombie & Fitch Co. has taken itself off the selling block. The teen retailer said it has ended talks regarding a potential sale and will instead continue to focus on turning around its business as a standalone business.

Barnes & Noble names head of stores

A former Advance Auto and Starbucks executive has joined the executive team of the nation's largest bookstore chain. Barnes & Noble said that Carl Hauch has been named VP stores, effective immediately. Hauch will be responsible for the entire retail store organization and profitable growth of the business, driving sales, training, developing talent and recruitment.
Report: Lampert considering deal with Sears Canada

The chairman and CEO of Sears Holding Co., is reportedly considering a deal with bankrupt Sears Canada.
Report: Online giant creating its own ‘Geek Squad’

Amazon’s newest service is looking to give Best Buy a run for its money. In a move designed to rival Best Buy’s Geek Squad installation and repair team, the online giant is quietly creating its own fleet of gadget experts, according to ReCode.
Footwear retailer launches in-store pick-up

Famous Footwear wants to get merchandise into its shoppers’ hands faster. By rolling out an in-store pickup service chainwide, Famous Footwear’s online shoppers now have the option of picking up their orders in more than 1,000 locations. To encourage shoppers to try the service, the retailer is offering customers that shop between July 7 through July 11, a $5 discount off of one order containing an in-store pickup item.
Retailers hope to steal some Prime Day thunder

Amazon may be pulling out the stops to lure customers to participate in Prime Day, but competitors are taking steps to grab their own online sales. The online giant’s third annual Prime Day global shopping extravaganza officially kicked off on Monday, July 10, at 6 pm PST, and will run until the wee hours of morning on July 12. Eager to take advantage of early bird shoppers, Amazon began rolling out sneak previews — and sales opportunities — as early as last week.
Accessories retailer readies for international expansion

With plans to triple its store portfolio in six years, Parfois needs to expertly anticipate demand and gain global visibility into its inventory. By partnering with Oracle, the accessories retailer is one step closer to scaling its operations. Parfois added the Oracle Retail Merchandise Operations Suite and the Oracle Retail Warehouse Management System — two solutions that will support the company’s high growth and international expansion plans.
Office supplies giant makes big changes to loyalty program

Office Depot had one goal when updating its loyalty program: to make sure that every shopper is rewarded. The office supplies giant debuted its new loyalty program. Besides being free, the “Office Depot OfficeMax Rewards Everything” program is designed to save customers money, and deliver expanded benefits. The program evolved following a year-long pilot in several markets, a process that enabled the company to gather customer feedback needed to redesign the program.
Pet supplies retailer continues store expansion

PetSmart was busy opening stores during its first quarter. The retailer opened 18 new stores in the U.S. and Canada in its fiscal quarter ending May 1, 2017. PetSmart opened 70 net new stores in 2016 and expects to open more than this number in fiscal year 2017.