News

Adidas, New York City
The new, 45,000-sq.-ft. adidas flagship in New York City is the athletic giant’s largest store in the world — and its most brand immersive. Sleek and ultra-modern looking, the store marks the debut of adidas’ stadium retail concept, which is inspired by high school stadiums and celebrates creativity in sport. It features a tunnel entrance, high-school reminiscent bleacher stands for live-game viewing on big screens, locker room-styled dressing rooms and track and turf sections where customers can try out products.
In a first, non-family member to take reins at Meijer
Family-owned and operated Meijer is getting a new CEO — and for the first time in the retailer’s 82-year history, it’s not a family member. Effective January 1, 2017, Rick Keyes, president of Meijer, will add the title of CEO. He will replace Hank Meijer, who is stepping down as chief executive and will serve as executive chairman of the board.

Ascena Retail Group swings to Q1 profit but misses Street

Ascena Retail Group reported a profit in its first quarter on lower costs, but it missed Wall Street expectations. The company, whose banners include Ann Taylor, Loft, Lane Bryant, Dress Barn and more, reported net income of $14 million, or $0.07 per diluted share, in the first quarter, compared to a net loss of $18 million last year, or $0.10 per diluted share. Ascena’s income for the first quarter reflected lower purchase accounting adjustments and acquisition and integration costs.
Exclusive: Cavender’s saddles up for cloud-based WFM

It’s not easy for a family-owned company to phase out its homegrown systems in favor of automation. Cavender’s Boot City has not only taken this bold step, but it’s upping the ante even further as it transitions its workforce management (WFM) platform to the cloud. Cavender’s is a 90-year-old western specialty retailer that continues to grow — even while it maintained homegrown IT systems, including a legacy-based WFM operations.
Commentary: Ulta in prime position to capitalize on holiday

Ulta has finished its third quarter with another very impressive set of numbers. Despite lapping some tough comparatives, the pace of growth has quickened with strong uplifts in total and comparable sales, as well as on the bottom line where operating and net income both grew by well over 20%.
The Cyber Week winners were…

Competition was fierce during Cyber Week, however, the clear winners were those retailers that stayed in-stock and offered assortments at the best price points. That’s according to the third annual “Holiday Season Report” from Ugam. The managed analytics firm collected and analyzed detailed assortment and pricing information among Amazon, Best Buy, Jet.com, Target, Toys "R" Us and Walmart during Thanksgiving week, from Nov. 24-28, 2016.
Online and in store, Ulta Beauty soars in Q3

Ulta Beauty shows no signs of losing its momentum as the chain reported a strong quarter and raised its full-year outlook for the third time this year. Ulta’s performance was impressive, both in brick-and-mortar and online where its sales jumped nearly 60%. (For commentary, click here.)
Matchesfashion.com redefines ‘fast fashion’

Luxury retailers are not advocates of fast fashion, but Matchesfashion.com’s new service gives the term a new meaning.
Nation’s biggest mall hires its first black Santa

The Mall of America is making headlines for one of its seasonal hires.
Fast-growing home décor superstore names COO

With plans to expand to some 600 stores, At Home Group Inc. has appointed a chief operating officer and expanded its board with a Gap Inc. veteran. The retailer, which currently operates 123 stores, said it promoted chief stores officer Peter Corsa to COO. Corsa, who joined the company in 2013, will continue to be responsible for store operations, loss prevention, distribution and logistics in addition to assuming oversight of inventory planning and allocation.