News

Surprise — Gap had a happy holiday
Gap Inc. turned in a positive holiday performance, reversing a string of declines, fueled by strong results from its Old Navy division and improvements by its namesake unit. The apparel giant also boosted its guidance for the year. Gap’s net sales for the November and December holiday season edged up 1% compared to the year-ago period. Total same-store sales rose 2%.
Amazon opening more bookstores
New Yorkers will have a new way to browse Amazon’s best-selling book titles — in a physical store. Later this year, the retail giant will open a bookstore at the Time Warner Center in Manhattan. Also on the slate for 2017 is a location in Chicago, and the Boston suburb of Dedham, Mass. Stores are also planned for Lynnfield, Mass., and Paramus, N.J.

Build-A-Bear CEO Goes ‘Undercover’

Going undercover isn’t easy. But it can definitely be worth the effort. Just ask Sharon Price John, president and CEO of Build-A-Bear Workshop.
Sam’s Club CEO stepping down

The ranks of female retail CEOs is losing one of its highest-profile members. Rosalind G. Brewer, 54, has told Walmart she plans to retire as executive VP, president and CEO of Sam’s Club, effective Feb. 1, 2017. She will be succeeded by company veteran John Furner, 42, who joined Walmart as an hourly associate in 1993, effective Feb. 1. The news was announced in a filing by the chain.
Report: Walmart Canada settles dispute with Visa

A six-month battle between Walmart Canada and Visa has come to an end. The retailer, which threatened to ban the card processor from all of its stores nationwide due to “unacceptably high” credit-card transaction fees, has ended its feud, and will resume accepting Visa cards at its more than 400 stores starting Friday, Jan. 6.
A less-than-merry holiday for department store retailers — including Penney

Poor holiday sales results from Macy’s, Sears, and Kohl’s do not bode well for the already embattled department store sector. And now J.C. Penney has reported its own disappointing results.
The newest shopping channel: automobiles?

The annual consumer electronics trade show (CES) is considered a launch pad for new innovations and technology. One concept garnering attention at this year’s show: in-vehicle digital shopping. Honda and Visa presented the first proof-of-concept demonstration of in-vehicle payments at this year’s show, held in Las Vegas, Jan. 5-8.
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Postal Service calls it quits with Staples

The partnership between the U.S. Postal Service and Staples has come to an end. The program started as a pilot in late 2013 and was eventually expanded to about 500 Staples locations. It effectively placed mini post-offices in the chain’s stores, with Staples’s non-union employees providing some of the same services that the Postal Service’s union employees performed.
Walmart’s Jet.com acquires Zappos competitor

A new acquisition gives Walmart an even stronger foothold in the world of e-commerce. Jet.com, which was purchased by Walmart in September for approximately $3 billion, has acquired online footwear retailer ShoeBuy for approximately $70 million. The purchase expands Jet.com’s footwear offerings, and gives Walmart more firepower in its battle against Amazon, which owns ShoeBuy’s main competitor, Zappos. The deal closed on Dec. 30.