News

Casual clothing and workwear retailer on the hunt for a new CFO
Duluth Holdings is losing its finance chief. Mark DeOrio, the company’s CFO, will retire at the end of 2017. DeOrio will remain in his role until the next finance chief is appointed, and he will then assist with his successor’s transition until his retirement. DeOrio has held the role since August 2010. He also served as senior VP of operations from 2010 to January 2015.
H&M firms up plans for Arket brand
As H&M braces for the opening of its first Arket store, it is already putting a plan in motion for its second location. The fast-fashion chain announced in March that is plans to launch its new brand, Arket, in early fall. Arket, H&M’s first new brand in three years, will feature merchandise men, women and children, and a smaller, curated assortment of home goods.

Walmart CEO: ‘Associates are the secret to our success’

Walmart is no stranger to innovation. However, when defining the secret to the company’s success, Walmart’s chief executive Doug McMillon said he just has to look within the company’s proverbial four walls.
Five Below hits it out of the park in Q1

Teens’ demand for slime to fidget spinners helped boost Five Below’s first quarter sales, comps and earnings well above expectations. For the first quarter ended April 29, the teen value retailer reported a net income of $8.4 million compared to $6.8 million in the first quarter of fiscal 2016. Meanwhile, the chain’s sales increased almost 21% to $232.9 million, from $192.7 million in the first quarter of fiscal 2016.
Macy’s shakes up digital team

Macy’s named two key leaders in a move to bolster the company’s digital initiatives. The department store chain named Yasir Anwar as its executive VP and CTO, effective immediately. In this new role, Anwar will oversee all technology functions for Macy’s, including expanding the company’s technological capabilities and further driving mobile and digital growth.
Amazon expands distribution fleet in California

Amazon is bolstering fulfillment efforts in the Golden State. The online giant will open an 855,000-sq.-ft. fulfillment center in Fresno, California. The new facility will specialize in handling smaller-sized items such as books, electronic devices and children’s toys. The Fresno facility will be the fifth warehouse in the state’s Central Valley. Amazon currently operates three fulfillment centers in Tracy and Patterson, and a fourth facility under construction in Sacramento.
Whole Foods Market overcharging allegations resurface

A lawsuit accusing a natural-foods grocer of overcharging customers has been revived. On Friday, June 2, the 2nd U.S. Circuit Court of Appeals in New York City ordered Whole Foods Market to face a proposed class-action lawsuit accusing it of overcharging shoppers in New York City. The suit claims the chain overstated the weight of pre-packaged food in its supermarkets, according to Reuters.
Unemployment drops to lowest level post-recession

The unemployment rate has hit a new, but welcomed milestone. The U.S. unemployment rate is now 4.3%. This is the lowest it's been since 2001. However, job gains missed the mark by a wide margin. The economy only added 138,000 jobs last month, missing the 185,000 mark expected by analysts. Job gains have occurred with an average monthly gain of 181,000 over the past 12 months.
Boot Barn sales rise in fiscal Q4, still misses Street

Even with a jump in sales, unanticipated operating expenses and e-commerce snafus took a toll on Boot Barn’s fourth quarter for fiscal 2017.
Online retailer prepares for Mall of America debut

An online clothing brand best known for its signature shirts that are designed to be worn untucked is going to open at Mall of America, in Bloomington, Minnesota. Untuckit will open a 1,300-sq.-ft. outpost at the giant mall this fall. It will be the company's first store in Minnesota, and carry shirts for both men and women.