News

Michaels disappoints in Q3
Michaels came up short in the third quarter, posting earnings and revenue that missed analysts’ forecasts. The art and craft retailer reported third-quarter adjusted earnings of 40 cents per diluted share, missing analysts' estimates of 43 cents per share. Net sales increased 5.0% to $1.227 billion, primarily a result of the acquisition of Lamrite West in February 2016 and sales from 19 additional stores.
Done Deal — for $1.365 billion
It’s official. Supervalu has finalized the sale of its discount supermarket business, Save-A-Lot, to an affiliate of Onex Corporation for $1.365 billion in cash. In connection with the closing of the sale, Supervalu and Save-A-Lot have entered into a five-year professional services agreement whereby Supervalu will continue providing certain back office services to Save-A-Lot.

New chief digital officer for Kroger

The Kroger Co. has tapped a tech veteran as its next chief digital officer. The supermarket giant announced that 15-year-veteran Kevin Dougherty, 63, group VP and chief digital officer, will retire on Jan. 27, 2017. He will be succeeded by Yael Cosset, 43, chief commercial officer and chief information officer of 84.51.
Wayfair app brings products to life right in shoppers’ hands

While some retailers struggle with mobile’s limited “real estate,” Wayfair sees it as a window of “shopping” opportunity. The home décor pure play launched View in Room, a new feature within its mobile app that lets shoppers see furniture and décor in their homes before they buy. The new feature places two-dimensional (2-D) product images in any room through the camera of iOS and Android mobile devices.
Mobility pushes Neiman Marcus to up its networking game

Digital disruptors continue to change the pace of retail — and Neiman Marcus is ready. Like many retailers, the luxury department store chain continues to introduce more mobile technology at store-level, a move that supports both in-store operations and consumer-driven tasks, from browsing through procurement. “It is a trend that requires our network to be a mission-critical lifeline at every store,” said Scott Emmons, head of the Neiman Marcus Innovation Lab (iLab).
Kohl’s VP joins Gordmans’ exec team

Gordmans Stores named Ramin Mozafari as senior VP of planning and allocation. Mozafari joins Gordmans from Kohl's Department Stores, where he most recently was senior VP, divisional merchandise manager for accessories. Prior to Kohl's, from 2008 to 2012, he served DSW, where he held various merchandising roles including VP, general merchandise manager.
Executive turnover at Sears

Beleaguered Sears has lost two of its top executives. Jeffrey Balagna, Sears' executive VP, and Joelle Maher, Sears president and chief member officer both left the company within the past week, reported Business Insider. Sears, which will report its third quarter earnings on Thursday, did not announce or explain the departures,
Physical stores remain go-to location for cosmetic and grooming purchases

Beliefs that online shopping has replaced brick-and-mortar shopping are exaggerated, especially when it comes cosmetic and grooming purchases, according to a new The Harris Poll.
The Barriers to Enterprise Mobile POS: Five Things Holding Retailers Back

A few years ago, there was considerable buzz in the retail industry about the enormous potential of mobile point of sale (mPOS) and its ability to transform the in-store customer experience. With online competitors driving new consumer expectations and shopping behavior, this was seen as a key strategy in blunting the competition and giving brick and mortar merchants an upper hand.
Home furnishings giant in big expansion of parental leave

In a move that is likely to help it attract new talent — and hold on to existing employees — Ikea U.S. has announced one of the most generous and inclusive parental leave programs in the U.S. retail industry. Effective Jan. 1, Ikea will provide all its 13,000 U.S. salaried and hourly employees who are expanding their families — including mothers, fathers and adoptive and foster parents — with up to four months of paid parental leave.