News

NRF: Consumption tax system would cause retail spending, jobs to fall
The National Retail Federation continues to lead the charge against the consumption tax and the proposed border adjustment tax. The NRF on Thursday today urged Congress to focus on updating the existing federal income tax system rather than moving toward a consumption tax. Under either approach, Congress should reject a proposed $1 trillion border adjustment tax that would drive up prices for consumers and cost the economy jobs, NRF said.
Nike gets its footing — in the cloud
With its epic product launches, Nike’s digital channels can get unprecedented levels of interest and demand. And crashes are unacceptable. The athletic goods giant is on pace to hit $50 billion in revenue by 2020, a goal that Nike expects to hit with the support of its digital strategy, according to Mike Wittig, VP infrastructure, Nike.

Target gets in bed with popular mattress-in-a-box brand

An online start-up has turned to a traditional retailer to help grown its brand. Target Corp. has entered into a partnership with Casper, an online brand credited with disrupting the mattress category. Target will start selling the brand’s mattresses and other products, including a few exclusive items, beginning on June 18.
Home furnishings giant submits plans for new location

Ikea is looking to expand in presence in North Carolina. The retailer said it is submitting plans to the Town of Cary, N.C., for a potential Raleigh-area store, which would be the second Ikea location in the state. The proposed 15-acre site would be located adjacent to the existing Cary Towne Center, approximately 12 miles west of downtown Raleigh and two miles from downtown Cary.
So what do shoppers really want from technology?

As consumers become increasingly digitally influenced, retailers are struggling to find the right mix of technology to drive engagement.
Things are looking up at Gap, led by Old Navy

Gap Inc.’s reported a 12% jump in first quarter profit amid another strong performance from its Old Navy division. Net income rose to $143 million, or 36 cents per share, in the quarter ended April 29, from $127 million, or 32 cents per share, a year earlier. Its results easily beat the Street, which had predicted earnings of 29 cents per share.
Meijer enters new territory

Meijer is expanding its already considerable footprint in its home state of Michigan. Meijer on Thursday opened its first locations in Michigan’s Upper Peninsula area, in Escanaba and Sault Ste. Marie. The 192,000-sq.-ft.-supercenters, built to Leadership in Energy and Environmental Design (LEED) standards, are the latest in a $375 million investment this year that includes the construction of seven new Meijer supercenters and remodel projects for 22 additional stores in Indianapolis, Illinois, Michigan, Ohio and Kentucky.
Study: Innovation will drive the unified shopping experience

E-commerce or brick-and-mortar retail environments continue to merge, and retailers are in the hot seat to optimize the customer experience. As a result, the need to adopt innovative technologies to engage shoppers has never been stronger. This was according to the “2017 Customer Experience/Unified Commerce Benchmark Survey” from Boston Retail Partners.
Small c-store chain with big ambitions acquires 35 locations

Yesway has expanded its store network. The convenience store company announced it has acquired 35 Wes-T-Go and Chillerz stores in Abilene, Texas. The acquired stores will be added to Yesway’s existing portfolio of 38 locations currently operating in Iowa and Kansas.
Ace gains on income with minimal movement on revenue

Ace Hardware reported a slight increase in revenue during the first quarter, as well as more substantial progress in net income. Revenue came in at $1.2 billion, up 0.1% from the first quarter of 2016. Net income of $28.3 million was up 8.4% over the year. Same-store sales were down 0.2% due to decreased customer traffic, reported by the approximately 3,000 Ace retailers who share daily retail sales data.