News

Wayfair not only dominated during Cyber Week — it hit a company high.    The pure play home furnishings retailer reported a 52% increase year-over-year in direct retail gross sales (defined as dollars of order intake) for the five-day peak shopping period of Thanksgiving Day through Cyber Monday. The growth rate of total company gross sales was 46% YOY during the same period.   

JGA has named Joanne Healy to the newly created position of executive VP, chief strategy officer.   Her responsibilities will span across strategy, creative and business development, bringing her unique perspective to the rapidly evolving world of retail, service and brand experience.    

Boohoo, a fast-fashion online retailer based in Manchester, England, is reportedly bidding for bankrupt U.S. retailer Nasty Gal.    Boohoo has filed a petition to incorporate Nasty Gal as part of its business in the United Kingdom, registering the business Nasty Gal Ltd with Companies House, fashionunited.com reported.  

More than half (56%) of retailers plan to comply with the planned Fair Standards Labor Act (FLSA) overtime rule for exempt employees on Dec. 1, the date it was to go into effect, despite a Nov. 22 injunction that puts the plan on hold.   That is among the findings of a spot survey of U.S. retailers by the Hay Group division of Korn Ferry.    

A new solar project will make Ikea the largest non-utility solar owner in the state of Ohio.   The home furnishings giant plans to install solar panels atop its future store in Columbus, Ohio, due to open in summer 2017.  It will be the second Ikea solar array in Ohio. The chain installed a 1.026-MW rooftop array at its Cincinnati-area store in 2012.   REC Solar will develop, design and install the solar power system at the Columbus store, which is being built by Pepper Construction. 

This holiday season shoppers will see many new high-tech and digital advancements in stores, from self-service kiosks and free Wi-Fi to mobile pay and retail apps. In the coming years, shoppers may even find robots helping them face-to-face.  

Kimco Realty Corp. takes the top spot in Chain Store Age’s 12th annual Top Redevelopers survey, with 2,669,999 sq. ft. redeveloped. Kimco’s redevelopment reach in 2015-2016 spanned 19 states and Canada, as the company touched 39 projects in all. (The survey analyzed redevelopment work from mid-year to mid-year in the 12-month period from June 2015 to June 2016.)

It’s a rough time for many teen apparel retailers and the holiday season may not bring much relief.   American Eagle Outfitters Inc. on Wednesday issued a weaker than expected forecast for the fourth quarter as its CEO cited a “tough” retail environment. Its warnings issues similar statements from the likes of Abercrombie & Fitch and Gap.