News

Report sends Amazon’s stock price surges
Amazon’s upward trajectory is not going to stop anytime soon — and it’s not going unnoticed on Wall Street.
Discounter details its wide-ranging energy initiatives
Target Corp. is deploying a number of solutions to reduce its energy use. The retailer, recently named Energy Star Partner of the Year for the second year in a row, counts more than 1,400 of its buildings as having Energy Star status — the Environmental Protection Agency’s certification of energy efficiency — more than any other retailer. And the number is still growing as Target works towards its goal of having at least 80% of its buildings certified by 2020.

Detroit power center changes hands

Shelby Crossings, a 76,390-sq.-ft. power center in the Detroit suburb of Utica, has been acquired by Beverly Hills, Michigan-based Grand Management & Development. Mid-America Real Estate Corp., which represented the seller in the transaction, could not disclose the price. The property features the Bed Bath & Beyond subsidiaries Christmas Tree Shops and BuyBuy Baby, and is surrounded by a larger regional center anchored by Target and Planet Fitness.
Report: Gaming retailer targeted by hackers

GameStop is the newest data breach victim. The gaming retailer is investigating reports that hackers may have siphoned credit card and customer data from its website, according to security news firm KrebsonSecurity.
Gap veteran joins Lululemon board

A veteran retailer has been named co-chairman of Lululemon Athletica. The retailer has appointed Glen Murphy to its board as co-chairman, effective immediately. Murphy served as chairman and CEO of Gap Inc. from 2007 to 2014. Prior to that, he was CEO of Canadian drugstore chain Shoppers Drug Mart. Currently, Murphy is head of FIS Holdings, where he is responsible for leading the high-impact consumer-focused investment firm deploying a combination of operating guidance and capital flexibility.
Regency announces Miami development

Regency Center has announced the start of a ground-up addition to a center in an affluent section of Miami. The nation’s largest retail REIT will add 70,000 sq. ft. of retail to an existing 173,000-sq.-ft. Target on US- 1 to create the new center, called Pinecrest place. The bulk of the addition will be occupied by a 46,000-sq.-ft. Whole Foods Market. Construction is expected to be completed in second quarter 2018.
Specialty chain beefs up loyalty program, goes mobile

Lids Sports Group is giving its fans something to cheer about. In addition to unveiling Access Pass, Lids’ new rewards program that features exclusive deals and invitations to once-in-a-lifetime experiences, the retailer also launched a new mobile app to keep members instantly connected to their account.
Indian fashion retailer personalizes experience with cognitive learning

Fashion retailer abof is breaking new ground by leveraging machine learning and natural language to better service its online shoppers. Aditya Birla Online Fashion (abof) sells apparel, footwear and accessories for men and women, and has a strong millennial consumer base. Knowing this customer segment expects a highly convenient and distinctive customer service, abof needed a way to personalize its online experience.
Teen retailer expands presence in Asia

Abercrombie & Fitch Co. now has a way to get its fashions into the hands of its loyal shoppers in Southeast Asia — and fast. Through a new wholesale agreement with Asia's leading online fashion destination Zalora, the teen apparel retailer will begin selling its Hollister merchandise through Zalora's online stores starting next week. The site will also begin offering Abercrombie & Fitch product later this month, according to Abercrombie & Fitch.
Valentino upgrades its digital presence

The luxury brand is about to embark on the “next era” of its omnichannel shopping experience. Extending its long-time partnership with Yoox Net-a-Porter Group (YNAP), Valentino is upgrading its omnichannel platform, a move that will give customers access to its extensive product assortment, in-store mobile features, and faster delivery through fulfillment from Valentino boutiques.