News

Walmart continues its online buying spree, but this time the target is a Web domain.   ShoeBuy.com, which Walmart acquired in January, has acquired the shoes.com domain name and related intellectual property for $9 million, according to documents filed with the Supreme Court of British Columbia in Bankruptcy and Insolvency. In an unexpected move, the Canada-based Shoes.com shut down its online sites and brick-and-mortar operations in January.   

One way for U.S retail companies to win in 2017 is to look beyond their domestic borders for growth. As retail executives implement this year’s business plans, they should consider embracing cross-border e-commerce in China to grow now, and in the future.   China is the world’s largest and fastest-growing e-commerce market. Cross-border e-commerce is experiencing explosive growth due to Chinese consumers’ desire for lower prices and higher-quality products.   

Mass retail is at a crossroads. Many of the iconic brands that are mainstays for our biggest and best malls are announcing layoffs and closures. The traditional brick-and-mortar store continues to see reduced foot traffic and most can’t seem to find a remedy. Amid this retail doom and gloom, however, there is one retailer that is rising above the rest: Ulta Beauty.  

CVS Pharmacy continues to make a concerted effort to transform its stores, with the goal of fostering a better customer experience.   The retailer on Wednesday officially unveiled a new store design to enhance the retail customer experience with a new assortment of healthier food, health-focused products and expanded beauty selections, paired with informational signage throughout the store to help customers discover new offerings. The retailer hosted an event at The Garage in New York City on Wednesday to showcase the enhancements firsthand.

Days after announcing it is closing hundreds of stores, Rue21 is taking steps to better connect with shoppers online.   Focusing on conversational commerce, the teen apparel retailer launched a personalized, interactive shopping experience via the chat-based Messenger app. Powered by mode.ai, the virtual stylist uses Messenger’s new Chat Extensions feature that allows users to interact with the shopping tool in group and one-on-one message threads with friends, the retailer said.  

San Diego-based RAF Pacifica Group recently acquired a 40,000-sq.-ft. land parcel (formerly the site of Cedros Gardens), in the Solana Beach section of San Diego for $5.5 million from a private owner.   The firm plans to develop 26,000 sq. ft. of the property, located within the rapidly growing Cedros Design District. The upscale community is known for its two-and-a-half-block, open-air shopping district housing yoga studios, eateries, galleries, and weekly farmers market.  

Office Depot continues to make good on its promise to focus on its North American business.     The company announced it has reached an agreement to sell its business in Australia and New Zealand to Platinum Equity, a global private equity firm. The transaction is subject to regulatory approval in each country and is expected to close within the next several months.  

Albertsons Companies has appointed Wayne Denningham, currently executive VP and COO, to the new role of president and COO for Albertsons Companies. Denningham will continue to lead store operations with added oversight of marketing & merchandising, supply chain, manufacturing, and integration, all of which will continue under their current leadership.