News

Report: Three Biggest Takeaways from Amazon’s impressive third quarter
Amazon surpassed analysts’ expectations on Thursday, posting a 23% increase in revenue and its second consecutive quarterly profit. But according to a report by The Street, Amazon’s fast-growing cloud services business was the biggest story, bringing in $2.1 billion in revenue for the quarter. [The Street]
Former Bon-Ton, Lord & Taylor CEO takes top spot at luxury brand
A veteran retailer has taken the reins at Vince, a leading-edge contemporary fashion label and retailer.

The company named Brendan L. Hoffman as CEO, effective immediately, replacing interim chief. He is the former chief executive and president of The Bon-Ton Stores Inc, a position he held from February 2012 to August 2014. Prior to that, Hoffman was CEO and president of Lord & Taylor.

Nike, East Los Angeles

Nike has brought its “community store” concept to California, opening a 19,000-sq.-ft.-plus location in East Los Angeles.
Hay Creek Shops open first phase of development

Bismarck, N.D. -- The Woodmont Company and Northwest Contracting announce the completion and opening of the first phase of development of Hay Creek Shops in Bismarck, North Dakota. Hay Creek Shops is a regional power center on 33 acres that once complete will total more than 300,000 sq. ft. of retail and restaurants.
Staples founder Tom Stemberg has died

One of the retail industry’s true innovators, Staples co-founder Tom Stemberg, passed away on Friday at the age of 66. 
Report: Struggling grocer turning out the lights

Fresh & Easy, which opened its first store in 2007 and was U.K. giant Tesco’s first U.S. venture, is closing its stores, the Los Angeles Times reported. The chain, which was never able to gain a foothold in the competitive U.S. grocery market, filed Chapter 11 in 2013, and was acquired by grocery billionaire Ron Burkle's Yucaipa Cos. with a loan from Tesco. [Los Angeles Times]
Prime Power: Amazon’s sales surge ahead of holidays

Amazon.com’s third quarter sales increased 23% to $25.4 billion and the online retailer and tech giant posted a huge improvement in profitability.

The company said operating income increased to $406 million in the third quarter ended Sept. 30, compared to an operating loss of $544 million in third quarter 2014. Net income increased to $79 million, or 17 cents a share, compared with net loss of $437 million, or 95 cents a share, the prior year.
Lumber Liquidators pleads guilty, pays fine

A federal investigation related to Lumber Liquidator’s illegal timber trafficking has ended with a guilty plea and some damning statements by prosecutors.
Holiday 2015: Six product and pricing predictions

Product and pricing data provider 360pi is out with its take on what retailers and brands can expect this holiday season.

According to 360pi, retailers that offer real-time data, regionalized pricing and exclusive products will shine during the 2015 holiday shopping season. The firm puts more meat on the bone with its six holiday predictions, including:
Five Below looks for sales to sizzle with new agency

Five Below is looking to generate brand awareness and traffic after selecting a new advertising agency to handle creative and media duties.

The teen and pre-teen retailer known for selling products for $5 or less chose Zimmerman Advertising, a division of Omnicon, as its agency of record and Five Below CEO Joel Anderson couldn’t be happier.
Cabela’s pulling back on store expansion

Cabela’s smaller stores are not as productive as the company would like, so the outdoor retailer is putting the brakes on new store growth while it focuses on productivity.
Kohl’s says it is the smart holiday choice

In what promises to be the most omnichannel Christmas ever, Kohl’s contends it will offer shoppers a seamless experience that is faster and more convenient that ever.