News

Albertsons names Mayes senior VP external affairs, chief diversity officer
Albertsons on Friday appointed Jonathan Mayes to the post of senior VP external affairs and chief diversity officer. In his new role, he will head up the company’s diversity and inclusion efforts, as well as its government relationships, philanthropy and sustainability departments.
Sporting goods retailer officially files for Chapter 11
Gander Mountain has filed for bankruptcy, but it is proactively seeking a buyer. The sporting goods retailer, which announced Friday, March 10 that it has filed for Chapter 11 protection, said it will pursue a “going concerns sale,” enabling it to function without the threat of liquidation for the foreseeable future.

New partnership expands e-retailer’s dress rental assortment

Vow To Be Chic is giving shoppers access to a new line of designer bridesmaids' dresses. The two-year-old start-up, which allows women to shop for bridesmaids’ gowns via their desktop, laptop or smartphone, will add six of the best-selling gowns from Amsale's Nouvelle Amsale line. The partnership marks the designer’s debut in the gown rental segment.
Teen apparel retailer beats Q4 forecasts

An increase in revenue and comparable store sales helped Tilly’s beat analyst expectations for the fourth quarter. For the period ended January 28, 2017, Tilly’s revenue was $160.2 million, an increase from $159.1 million last year. Net sales also topped Wall Street forecasts of $159.9 million. The chain also beat analyst predictions of earnings hitting 21 cents per share. Tilly’s posted a profit of 22 cents per share.
Century-old value department store calls it quits

Gordmans Stores is the latest chain to file for bankruptcy. The 100-year-old chain announced on Monday, March 13, that it filed Chapter 11 in the United States Bankruptcy Court for the District of Nebraska.
Discounter bolsters tech team through ‘acquihiring’

Data and analytics is more than a business foundation — it is a key differentiator in an increasingly competitive marketplace, according to Target’s senior VP Paritosh Desai. As a result, Target is making a big push to add top tech talent, from software engineers to data scientists — a move that pushed the chain to “acquihire” tech companies. In this practice, larger companies acquire smaller ones to obtain their technology and, essentially, hire their leadership and teams.
Walgreens makes executive moves

Walgreens Boots Alliance on Friday named two executives to the chief marketing officer and chief merchandising officer positions, promoting Adam Holyk and Joe Hartsig, respectively, to those roles. Both will assume their new roles as of April 1 and report to Alex Gourlay, co-COO for Walgreens Boots Alliance.
Beauty powerhouse preps for sixth DC

Ulta Beauty is getting ready to break ground on its newest distribution center.
Sears Hometown and Outlet Stores losses continue in Q4

Lower sales and store closures widened fourth quarter losses for Sears Hometown and Outlet Stores. The hardware, appliance and tool retailer reported its net sales for the quarter ended January 28, 2017, decreased $49.4 million, or 9.2%, to $488.9 million compared to fourth quarter 2015. The company blamed the loss on the impact of closed stores (net of new store openings) and a 4.1% decrease in comparable store sales.
The world’s most valuable retail brands are…

An online giant and the world’s biggest retailer claim the top two positions in a study that ranks retail companies by their brand value. Amazon ranked as the world’s most valuable retail brand in the annual study by valuation and strategy consultancy Brand Finance. The company’s brand value, $106.4 billion, is nearly double that of Walmart ($62.2 billion), which ranked as the second most valuable retail brand. (An explanation of the ranking is provided at the end of article.)