News

Commentary: Downtick in February largely a temporary blip
After solid start to the year, retail is now back in softer growth territory. While the 2.1% rate of overall expansion is not disastrous, it is much lower than the past few quarters and is largely the result of higher gas prices which buoyed sales at gas stations by 15.8%. The pure retail number is more concerning, with the 0.8% increase being the slowest growth recorded since February 2013.
Report: Walmart to acquire another online retailer
A fashion blog is reporting that Walmart will acquire an online fashion brand known for its eclectic and quirky styles. Walmart’s Jet.com division will acquire Modcloth, reported CNBC, which cited the Jezebel fashion blog. The report comes on the heels of Walmart’s acquisition in February of online outdoor apparel brand Moosejaw.

Williams-Sonoma Q4 profit tops Street

Williams Sonoma Inc. on Wednesday reported adjusted fourth-quarter earnings above expectations and said its board of directors authorized a dividend increase. In a separate announcement, the company said Sandra Stangl, president of its Pottery Barn brands, will resign from the company March 31. http://www.chainstoreage.com/article/leadership-changes-home-furnishings-retailer
Consumers cautious in February

The delay of tax refunds helped keep consumer spending in check on February. Retail sales in February inched up 0.2% seasonally adjusted over January, according to the National Retail Federation. (The NRF numbers exclude automobiles, gasoline stations and restaurants.) The industry’s performance in February was mixed. Electronics and appliance stores took the biggest hit, with sales falling 2.8% over the previous month.
Christopher & Banks Q4 disappoints; to roll out merchandising changes

Changes are coming to Christopher & Banks Corp. On the heels of a 7.8% decrease in its fourth quarter sales, the women’s apparel retailer is launching a new merchandising strategy that include a bigger focus on fashion over core items. Christopher & Banks also will review styles on a weekly basis to identify emerging trends and mark down slower-moving products, said interim president and CEO Joel Waller on the company’s quarterly call with analysts.
Specialty outdoor retailer’s sales — and donations — surge

The nation’s largest consumer co-op reported a solid year amid ongoing sustainability achievements. REI reported annual revenues of $2.56 billion in 2016, up 5.5% from $2.42 billion in 2015. Same-store sales, which include direct to consumer sales, rose nearly 4% and digital sales grew by nearly 18%.
Leadership changes at home furnishings retailer

New leaders are set to take the reins at Pottery Barn and its sister brands. The company announced that Sandra Stangl, president of Pottery Barn Brands, which includes Pottery Barn, Pottery Barn Kids and PBTeen, is resigning from the company on March 31, 2017, after 23 years of service.
Three ways Amazon Go’s automation will impact the retail industry

Could “paper or plastic?” become a question of the past? In early December, Amazon opened its checkout-free store concept, Amazon Go, in Seattle. Initially open only to employees, the store is expected to open to the public early this year. With the e-commerce giant’s “just walk out” technology, customers are able to swipe their app when they enter, pick up items they want off the shelves, and exit without cash registers or lines.
Gifting retailer unloads product line, but gains new business partner

1-800-Flowers.com’s latest business move puts the company in a strategic position to more cost-effectively expand its assortment. The gifting retailer said Wednesday that Ferrero International S.A will acquire the company’s Fannie May Confections Brands, including its subsidiaries Fannie May Confections and Harry London Candies.
Bloomberg: Walgreens could sell additional assets to Fred’s

There is another development in Walgreens’ quest to acquire Rite Aid.