News

Stage Stores to acquire bankrupt department store chain — but not all of it
Gordmans is being rescued from liquidation — at least, part of it. Stage Stores won a bid to acquire about half of Gordmans’ stores. The Omaha, Nebraska-based department store chain filed for Chapter 11 on March 13. The retailer’s bid edged out Jeff Gordman, the former CEO of Gordmans, who also made a play to revive the bankrupt 106-store department store chain.
Another win for retailers from Supreme Court
Retailers may soon have a voice when it comes to disclosing surcharges related to card payments. The U.S. Supreme Court ruled on Wednesday, March 29, that First Amendment free speech rights should be considered when determining how merchants disclose to their shoppers that credit card swipe fees can drive up the price of merchandise.

Lululemon stretches profits in Q4, but hedges 2017 outlook

A stronger focus on product innovation and digital initiatives contributed to gains during Lululemon’s fourth quarter, but a slow start to the year impacted the company’s expectations for Q1 2017.
Amazon prepares to expand distribution network in Virginia

The online giant is about to break ground on another fulfillment center. The new facility, which will be more than 1 million sq. ft., will be located in Clear Brook, Virginia. The fulfillment center will employ more than 1,000 full-time associates who will be responsible for picking, packing and shipping larger customer items, such as big-screen televisions, kayaks and patio furniture.
Extreme value retailer continues to expand

Ollie’s Bargain Outlet Holdings Inc. is on track for store growth in 2017. The retailer, which beat the Street in the fourth quarter, ended the year with a total of 234 stores in 19 states, an increase of 15.3% year over year. It expects to open 33 to 35 stores in 2017, with no planned closures. Ollie’s reported fiscal fourth-quarter net income increased 52% to $24.4 million, surpassing Wall Street expectations.
Analysis: Dick’s Sporting Goods Shake-Up

On March 7, Edward Stack, CEO and chairman of Dick’s Sporting Goods, announced the company is dropping 20% of its brand offerings. This news is part of a larger redirection for the sporting goods retailer, one designed to optimize its inventory for increased sales.
Consumer confidence bumps up to a 16-year high

Having reached a 15-year peak on February, consumer confidence reached a new peak in March, now standing at its highest level in 16 years. The index's current reading is 125.6, up from 116.1 in February. “Consumer confidence increased sharply in March to its highest level since December 2000 (Index, 128.6),” said Lynn Franco, director of economic indicators at The Conference Board.
Luxe home furnishings retailer Q4 tops Street

Things are looking up at RH (formerly known as Restoration Hardware) which capped a busy year with better-than-expected results for its fourth quarter. RH reported that revenue fell 9% to $586.7 million in the fourth quarter, beating analysts’ estimates.
FICO: Debit card compromises skyrocketed in 2016

Payment card theft continue to wreak havoc on retailers and shoppers, alike. In fact, the number of debit cards compromised at United States-based ATMs and merchants rose 70% in 2016, while the number of hacked card readers at U.S. ATMs, restaurants and merchants rose 30% — the highest level in the history of the FICO Card Alert Service, which monitors hundreds of thousands of ATMs and other readers in the U.S.
Study: Personalization is top digital priority

Personalization is no longer just about marketing to demographic groups, customer segments or even personas. Rather, the concept has evolved into a critical way for retailers to differentiate their brand to compete against companies like Amazon, according to “BRP Special Report: Personalizing the Customer Experience,” a study from Boston Retail Partners.