News

Macy’s sells chocolate brand
Macy’s is exiting the chocolate business. The department store retailer is selling its Frango chocolate brand to Garrett Brands, owner of Garrett Popcorn Shops, for an undisclosed amount. Macy’s had inherited Frango, whose roots date back to 1918, from Marshall Field & Co., which was acquired by Macy’s in 2005.
Amazon wins new robot patent
Amazon’s packing processes are about to get even faster. The retail giant has been issued a patent for a robot that can pack orders, potentially speeding up the fulfillment process, according to NBC News.

Ulta Beauty is one hot retail property

There is no denying it: Ulta Salon Cosmetics & Fragrance is on a roll. The retailer will open 100 stores this year, including its first-ever location in Manhattan. Shares of Ulta rose 38% last year, about four times higher than the Standard & Poor’s 500 Index’s gain, Bloomberg reported, and its annual revenue has quadrupled to $3.9 billion since it went public 10 years ago.
PayPal ends year with a jump in revenue

PayPal credits partnerships for its revenue increase during the fourth quarter, as well as throughout 2016. The digital payments company reported a 17% jump in revenue to $2.981 billion for the fourth quarter ended December 31, 2016. During this timeframe, PayPal also added 5.4 million active customer accounts; and 1.8 billion payment transactions, an increase of 23%. The company also reported $99 billion in total payment volume (TPV), up 22%.
Another teen apparel retailer to close all stores

It looks like it’s curtain time for The Wet Seal. The struggling teen retailer is closing its 171 stores, along with its headquarters in Irvine, Calif., after being unable to obtain the necessary cash infusion or find a buyer, according to several media reports.
Children’s apparel retailer on the hunt for a new CEO

The CEO of embattled Gymboree Corp. is stepping down. The children’s apparel retailer said that Mark Breitbard will step down as chief executive once a successor has been named. He will assume the role of chairman of the board, effective February 1, 2017.
Tractor Supply Company hits store milestone

Tractor Supply Company is celebrating the opening of its 1,600th store, which opened in Brentwood, Calif. The new store will hold its grand opening on Saturday, Feb. 4th.
Starbucks Q1 sales growth disappoints

Starbucks posted disappointing sales growth for its first quarter, citing “a challenging environment for restaurant retailers overall.” The coffee giant reported that its consolidated net revenues increased 7% in the quarter, ended January 1, 2017, to $5.73 billion, less than analysts had expected.
Beauty retailer preps to launch new holding company

Ulta Beauty is launching a new holding company. On Sunday, Jan. 29, the beginning of the company’s new fiscal year, the retailer will form a new holding company, Ulta Beauty Inc. “Business operations will not change, and the primary purpose of the reorganization is to create a more efficient corporate structure,” the company said. All outstanding shares of common stock will automatically convert, and the stock will continue to trade under the "ULTA" ticker.
Commentary: Starbucks now “firmly in middle age”

Neil Saunders, CEO of retail research and consulting firm Conlumino, comments on Starbucks’ first quarter results in the remarks below.