News

Target CEO: Border adjustment tax would hurt my customers
A current retail CEO and a former one found themselves at odds on Tuesday at a Capitol Hill hearing on the proposed border adjustment tax. “Under the new border adjustment tax, American families – your constituents – would pay more so many multinational corporations can pay even less,” said Target CEO Brian Cornell. “Eighty-five percent of Americans shop at Target every year. We believe this new tax would hit those families hard, raising prices on everyday essentials by up to 20%.”
Study: Email, not Facebook, drives consumer engagement among brands
Despite social media’s growing presence in many consumers’ lives, it is not the ideal platform for brand interaction. That's according to the “2017 Generational Marketing Insights Survey,” from Campaigner, the email marketing brand of j2 Global. According to findings, less than a quarter (24%) of online shoppers use social media as one of their preferred channels for brand interaction. And it seems that not all social media channels are created equal.

J.C. Penney hires Lowe's exec as new marketing head

A former Lowe's executive whose resume includes a 16-year stint at Stapes has joined the executive leadership team at J.C. Penney. Penney said Marci Grebstein will join the company as executive VP, chief marketing officer, in June. Grebstein succeeds Mary Beth West who stepped down as Penney's marketing head on April 1, 2017, after two years on the job, and went on to join The Hershey Company.
Struggling department store retailer strikes debt, pension obligations deals

Sears Holdings Corp. has bought itself a little more time with regard to the maturity of some debt. It also has offloaded some of pension liability. The retailer announced on Tuesday it has reached an agreement to repay $100 million of its secured $500 million loan facility at its original maturity in July, and extend the remaining amount until January 2018. The agreement includes an option to extend the maturity for an additional six months, to July 2018.
Target makes history with data breach settlement

Target Corp. has resolved its 2013 data breach with a deal that represents the largest multi-state data breach settlement in history. The retailer agreed to pay a total of $18.5 million to settle the case. The money will go to 47 states and the District of Columbia, with California receiving the largest share of the settlement, more than $1.4 million.
Walmart making big investment in Florida

Walmart is expanding—and updating—its footprint in the Sunshine State. The retailer will open nine new stores across Florida in its current fiscal year, creating more than 800 jobs, and also execute a multi-million-dollar capital investment plan by remodeling more than 40 locations across the state. Walmart currently operates 375 stores in Florida.
Walmart in new pay policy for military workers

Walmart is stepping up its commitment to its workers who serve in the military by covering the difference when an employee's military salary is less than what the person makes working at the store.
Athletic footwear brand steps up retailing experience

Shoe Palace is moving into the cloud to enhance its omnichannel operations. A preferred Nike retailer, Shoe Palace is known for its high-end athletic footwear and apparel, and top-notch customer service. The family-run business opened its first store in San Jose, California in 1993. Today, the company operates 118 stores nationwide, and an e-commerce site.
Albertsons adds Macy's, Levi's execs to digital team

Albertsons Companies has added two key hires to help it expand its digital capabilities.
Study: Loyalty program experiences falling short

Despite increasing loyalty program membership enrollments, retailers continue to miss opportunities to satisfy shoppers. Brands continue to invest more in loyalty programs, and enrollment has grown by 31% over the last four years. However, retailers are overlooking opportunities that will drive business results, according to “The Loyalty Report 2017.”