News

BJ’s jumps into cash automation
BJ’s Wholesale Club is knee-deep in a company-wide initiative to add processes that allow it to operate more efficiently. It has taken a major step by partnering with Glory Global Solutions to roll out cash automation solutions across its 200-plus-club chain. As cash still accounts for around 30% of consumer transactions in the U.S., it remains extremely important to retailer margins. However, the process of moving money is complex.
Hughes buys Macy’s; will convert mall to open-air center
The Howard Hughes Corporation announced it has purchased the 11.4-acre Macy’s store and parking lot at its Landmark Mall in Alexandria, Virginia, and will set about transforming the enclosed property into an open-air center.

FirstData: Strong holiday — but some retailers left in the cold

Despite disappointing results from some retailers, overall holiday sales are shaping up to be in line with industry projections.
Amazon Web Services makes new cyber-security play

Amazon is bolstering end-user cyber-security. The online giant’s cloud services group quietly acquired cyber security firm harvest.ai, a San Diego-based startup that uses machine learning and artificial intelligence to analyze online user behavior, according to TechCrunch.
WH Smith in POS investment

A go-to brand for shoppers on-the-go, WH Smith Travel is improving the in-store experience. The chain will add the Aptos Store point-of-sale solution at WH Smith’s Travel locations. The platform, which features modernized, flexible POS technology, is designed to maximize associate productivity and improve the customer experience across the chain’s more than 900 locations in Europe.
Discounter has better-than-expected holiday sales

Ollie's Bargain Outlet Holdings raised its full-year outlook after shoppers flocked to its stores in search of its signature “good stuff cheap” during the holiday season. For the nine-week period ended December 31, 2016, Ollie’s total sales increased 16.3%, with a same-store sales increase of 1.9%. The discounter said it now expects full-year net sales to total about $888 million, ahead of the FactSet consensus of $874 million. It expects same-store sales growth of about 3% and per-share earnings of about 93 cents.
Edens sells center near University of Virginia

O’Connor Capital Partners has acquired The Shops at Stonefield in Charlottesville, Virginia, from Edens for $121 million. The 231,761-sq.-ft. Town Center portion of the property, which is two miles from the campus of the University of Virginia, opened in 2013. A 33,422-sq.-ft. Northside portion was completed in 2016. Key Tenants include Trader Joe’s, Regal Cinema, Pottery Barn, Brooks Brothers, and Bluemercury.
Proposed Republican tax reforms would hit these retailers the hardest

Apparel retailers might be in for tough going if proposed tax reforms pass.
Neiman Marcus scraps IPO

Neiman Marcus Group is not going public anytime soon. In a filing on Friday, the luxury department store retailer said it would withdraw its initial public offering, having determined "that it is not in its best interests" to proceed with the initial public offering at the current time.
Former Walmart executive joins Dollar Tree management team

Dollar Tree has appointed Duncan Mac Naughton as president and COO of its Family Dollar subsidiary. Mac Naughton, 54, most recently served as CEO of Mills Fleet Farm. He has held numerous leadership roles at Wal-Mart Stores, including chief merchandising and marketing officer of Wal-Mart U.S. from 2011 to 2014, executive VP of consumables health and wellness and Walmart.com from 2010 to 2011, and chief merchandising officer of Wal-Mart Canada from 2009 to 2010.