News

Office Depot sells European business
Office Depot Inc. continues to streamline its operations. The office supply giant announced it has completed the sale of its European business to The Aurelius Group. The purchase price was not disclosed. The transaction is part of the company's recently announced international divestiture strategy to focus on opportunities in its North American business.
Iconix Brand unloads Sharper Image
Iconix Brand Group has sold the rights to the Sharper Image brand and related intellectual property assets to the company that recently bought FAO Schwarz from Toys “R” Us. Iconix sold Sharper Image to ThreeSixty Group, which manufactures and distributes toys and other consumer products to stores nationwide, for $100 million in cash. ThreeSixty is also Sharper Image’s largest licensee.

Hhgregg appoints lead merchant

Aaron Trahan has been appointed chief merchandising officer at Hhgregg. Trahan has over 14 years of retail merchandising experience, including 10 years in a merchandising leadership role. The specialty retailer plans to leverage Trahan’s leadership in appliances, electronics and furniture merchandising, especially as the company expands its furniture business in 2017, Hhgregg said
Holiday spending better than expected

Initial reports about holiday spending bode well for retailers. Consumers spent 16% more on holiday purchases this year than in 2015, according to the International Council of Shopping Centers Post-Holiday Shopping Survey.
Ping pong club rounds out leasing at Philadelphia center

Spin, an entertainment concept that had its genesis in “Naked Ping Pong” parties in New York’s Tribeca neighborhood, has taken the ground floor space to close out leasing at a new retail venue in Philadelphia. The glass-fronted, 55,000-sq.-ft. center in Rittenhouse Square, owned by an affiliate of Midwood Investment & Development, is co-anchored by The Cheesecake Factory and Verizon. Also inhabiting the three-story building is &Pizza and WeWork, a collaborative work space.
Report: 2016 digital holiday sales, online searches rise

While results were conservative, holiday digital sales surpassed 2015 figures.
Teen apparel retailer firms up executive suite with two new positions

Rue 21 has added the positions of COO and chief marketing officer to its executive roster. The chain has promoted Dirk Armstrong to COO. Armstrong has been with rue21 for nearly five years and was formerly senior VP and director of stores. Previously, he served as senior VP, director of stores at Ann Taylor and regional director at Gap Inc.
Tile Shop enters new market

The Tile Shop is expanding, in new markets and existing ones. The specialty retailer opened its first location in Washington, D.C., a 10,400-sq.-ft. store in the historic neighborhood of Tenleytown. The Tile Shop also opened its twelfth location in the Chicago metro area, in Schererville, Indiana.
Holiday spending surpasses expectations

Initial reports about holiday spending bode well for retailers. Consumers spent 16% more on holiday purchases this year than in 2015, according to the International Council of Shopping Centers Post-Holiday Shopping Survey.
Amazon kicks up private-label food offering

Making an even bigger push into private-label foods, Amazon launched a new line of natural snacks. Already a player in non-food private label categories, including household goods and other items under the Amazon Basics and Amazon Elements brands, Amazon’s newest line, Wickedly Prime, is making a push into grocery — specifically among “foodies.” The line currently features popcorn, blue corn and sweet potato tortilla chips, and soft shell almonds.