News

Apparel retailer launches first mobile app in Europe
Tommy Hilfiger is giving European customers a new way to connect with its brand. The specialty apparel retailer joined forces with PredictSpring to launch a mobile app targeting the European market. The app will enable consumers in 17 countries to log into their Hilfiger Club loyalty accounts, and receive personalized messages, promotions and event invitations.
Study: Most retail associates will use mobile solutions within three years
More retailers are putting mobile devices into their associates’ hands. Momentum is so strong that within three years, 89% of retailers will give their associates access to mobile solutions, according to “The Mobile World of Retail,” a report from Boston Retail Partners. BRP surveyed the top North American retailers to explore the current state of how mobile technology is shaping retail capabilities, priorities and processes.

Barnes & Noble names new CEO — its fourth in four years

Barnes & Noble has ended its quest for a new chief executive with an in-house promotion. The struggling bookseller named Demos Parneros as CEO, effective immediately. Parneros, who has served as COO of Barnes & Noble since November 2016, is a longtime Staples veteran. Prior to joining Barnes & Noble, he was president of North American stores & online for the office supply giant.
Solana Beach center is acquired for $33 million

A Chicago-based fund manager has acquired BeachWalk on Highway 101 in Solana Beach, California, for $33.25 million. "True coastal retail projects like BeachWalk seldom come to market,” said John Read of CBRE’s National Retail Partners West unit, which represented the seller, the Orange County-based Muller Company. Solana Beach is north of San Diego.
Amazon blows past earnings forecasts

Amazon on Thursday posted its eight straight quarter of net profitability, fueled by growth in e-commerce sales and its lucrative cloud service platform, Amazon Web Services. Amazon easily topped earning expectations for its first quarter, ended March 31, reporting $1.48 per share, above the $1.12 Wall Street expected. Net income rose to $724 million from $513 million in the year-ago period.
Report: Is ‘Apple Cash’ on the horizon?

Apple may be the next company to provide a money-transfer service. Sources said Apple has recently held discussions with payments industry partners about introducing a program that would allow iPhone owners to send money to each other digitally, according to ReCode. If Apple’s plan pans out, its service will rival offerings from big U.S. banks, as well as PayPal, its millennial-popular subsidiary Venmo, and Square Cash, the report said.
Retail Group make case for swipe fee reform

The National Retail Federation brought added attention to its stance on debit card swipe fee reform at a Congressional hearing on Capitol Hill. According to the NRF, reform has saved merchants and consumers more than $40 billion -- which is why the association is asking that it be protected.
Tractor Supply is weather-challenged in Q1

Tractor Supply Company reported declines in first quarter comp-store sales and net income as mild weather reduced sales of winter products. "Due to the challenging weather conditions, we were unable to offset the strong seasonal performance from last year's first quarter," said CEO Greg Sandfort. "As the weather has normalized over the past few weeks, we are encouraged with how the customer has responded and believe there is significant spring business ahead of us."
Target extends solar commitment with two innovations

Target Corp. is extending its progress to renewable energy and making progress on its goal to have 500 buildings with rooftop solar panels by 2020.
Study: Data must ‘deliver’ in the age of personalization

Companies are adopting more solutions to gain a 360-degree view of each customer. While 88% of companies believe their investments help their organization understand customer needs, only 61% of consumers agree — a gap that is costing retailers $62 billion a year, according to research from Talend. The provider of cloud and big data integration software surveyed 361 IT leaders and 1,094 consumers in the United States, the U.K., France, and Germany.