News

Connected devices: The new point-of-sale?
Visa and IBM have a vision — that any device connected to the Internet of Things can securely process payments. And this means “any device.”
RCG acquires Flint center for $14.2 million
RCG Ventures has purchased Oak Brook Square in Flint, Michigan, for $14.2 million. Anchored by TJ Maxx and Hobby Lobby, the 152,073-sq.-ft. center is located across the street from the Genesee Valley Mall in Flint’s largest trade zone.

Men’s specialty retailer streamlines financial transaction auditing

As retailers expand the breadth of their omnichannel operations, they need better visibility into their financial data. This is not an easy task for retailers like Tailored Brands, whose expansive retail portfolio includes Men's Wearhouse, Jos. A. Bank, Joseph Abboud, Moores Clothing for Men and K&G Fashion Superstore. The company also operates a global corporate apparel and workwear group consisting of Twin Hill in the U.S. and Dimensions, Alexandra and Yaffy in the U.K.
Restaurant giant in $1.8 billion acquisition

Popeyes Louisiana Kitchen is about to get a new owner. Restaurant Brands International Inc., owner of Burger King and Tim Hortons, announced it would acquire Popeyes Louisiana Kitchen for $1.8 billion in cash.
Report: Messaging app provider tries its hand at e-commerce

Snapchat users may be in the market for a new gadget to share their pictures — a new way to purchase it. Snap, the parent company of the SnapChat messaging platform, launched a new e-retailing site, Spectacles.com, which highlights brightly colored, whimsical video-recording sunglasses, ReCode said.
Macy’s Q4 earnings slump, but still beat analysts expectations

Store closures, layoffs and shifting consumer preferences weighed down Macy’s bottom line, negatively impacting its fourth quarter earnings. And the retailer doesn’t see its slump ending in the near future. Macy's net income fell to $475 million in the quarter ended Jan. 28, compared with $544 million in the year-ago period. Adjusted earnings per share came to $2.02, better than analysts had expected. Analysts had expected $1.95 per share for the quarter, according to FactSet.
Home Deport surges amid higher-than-expected sales, profit

The Home Depot is closing in on the $100 billion mark in annual sales.

The Atlanta-based retailer posted a 6.4% increase in same-store sales in the United States, and 5.8% overall, for the quarter ended Jan. 29.

CEO Craig Menear credited merchandising mix and digital prowess for the chain’s better-than-expected fourth quarter performance, which saw sales increase to $22.2 billion in the fourth quarter, up 5.8% from 21.0 billion in the same quarter last year.
A new drone delivery test takes off

UPS is the latest company to try its hand at drone deliveries. The delivery company has successfully tested a drone on Monday, Feb. 20, in Lithia, Florida. Called an octocopter drone, the device launches from atop of a UPS package car, autonomously delivers a package to a home, and then returns to the vehicle while the driver continues along the route to make a separate delivery.
Analysis: Macy’s making some progress

Neil Saunders, managing director of GlobalData Retail, comments on Macy’s fourth quarter results:
Walmart Q4 sales surge online and offline

Walmart on Tuesday reported a solid fourth quarter amid a big increase in online sales and higher store traffic. The company also announced it is raising its dividend. Walmart earned $3.76 billion, or $1.22 per share in the quarter ended Jan. 31, compared with $4.57 billion, or $1.43 per share, in the year ago period. Walmart’s earnings were impacted by investments in its digital business as it continues to boast its defenses against Amazon and other online competitors.