News

Supervalu Q3 sales disappoint
Supervalu Inc. swung to a loss in its third quarter amid increased competition in the retail segment. The company reported a net loss of $26 million during its 2017 fiscal third quarter, ended Dec. 3, as revenue fell 1.4% to $3 billion. The loss, however, included a settlement charge of $41 million related to pensions and also store closure charges.
Specialty apparel giant cuts outlook on poor holiday
Ascena Retail Group Inc. cut its earnings outlook as poor sales moved it into a highly promotional stance during the holiday period. The operator of Ann Taylor, Loft, Dressbarn, Lane Bryant, Maurices and Catherines said total same-same sales declined 3.1% during the November/December period.

Alibaba turns sights to brick-and-mortar

Chinese e-commerce giant Alibaba is making a play for a department store and mall operator in China. The company made a $2.6 billion bid for Intime Retail, with a plan to take it private, reported the New York Times. Alibaba already owns a 28% stake in the company, which operates 29 department stores and 17 shopping malls in China, mainly in first- and second-tier cities.
NRF wants free speech for merchants on credit card fees

The National Retail Federation on Tuesday called on the U.S. Supreme Court to allow merchants to freely and accurately show customers the added costs that come with paying by credit card rather than cash.
Sephora streamlines product submissions

With so many new beauty products hitting the marketplace, Sephora needs to ensure it is offering the right product mix to its loyal shoppers. Sephora offers 14,000 products from 200 carefully curated brands. Yet, new cosmetic innovations continue to be introduced on a seemingly daily basis. By adopting a new online platform, Sephora can streamline product discovery and its buying efforts.
Dakota REIT adds its largest center

Dakota REIT has acquired what instantly became the largest shopping center in its portfolio — the 114,102-sq.-ft. Pinehurst Square East in Bismarck, North Dakota. The Fargo-based REIT’s retail holdings consist primarily of neighborhood centers under 60,000-sq.-ft. in the Dakotas and Minnesota. Its largest center prior to the Pinehurst acquisition was the 103,860-sq.-ft. First Center South in Fargo.
Petco kicks off new year with store remodels

In keeping with its fast-paced growth, Petco is starting the new year by celebrating the grand re-opening of 14 remodeled stores in Los Angeles. Last year, Petco expanded its retail presence nationwide by opening 71 new stores and one new Unleashed by Petco store, remodeling 41 stores and expanding five stores. Fourteen Petco stores will celebrate grand re-openings on Jan. 13-15.
Another department store retailer cuts sales outlook in wake of gloomy holiday

Hudson's Bay Co. is the latest department store retailer to report weak holiday sales. The Canadian retailer, whose banners include Hudson’s Bay, Saks Fifth Avenue and Lord & Taylor, reported a 0.7% decrease in consolidated comparable sales in the nine-week holiday selling period that ended Dec. 31.
Regional sporting goods retailer expanding in the West

Sportsman’s Warehouse is building out its retail portfolio in familiar territory. The Utah-based retailer announced three new locations: Everett, Washington; Pueblo, Colorado; and Visalia, California. The new stores are expected to open in the second half of 2017. The location in Everett will be the tenth Sportsman’s Warehouse store in the state of Washington and will be located in the Greentree Plaza.
Sam’s Club taps company veteran as new CEO

Wal-Mart Stores has appointed John Furner to succeed Rosalind Brewer, who is retiring as chief executive of Sams’ Club next month. Furner will assume the role of executive VP, president and CEO of the warehouse club chain on Feb. 1.