News

Walmart mounts big offense for Cyber Monday
Walmart has fired the first shot in the Cyber Monday wars. The discounter said it will launch its “Cyber Week” sales several days early this year, with the first round to be offered on Friday, Nov. 25, at 12:01 a.m. (EST). In announcing the deals, Walmart noted it has nearly tripled its online assortment to more than 23 million products from 8 million last year, with the growth partially driven by the increase in the chain’s third-party sellers.
Canada Goose, New York City
Canadian outerwear brand Canada Goose, best known for its signature goose-down jacket with fur-trimmed hood, has opened its first-ever U.S. store. The 4,100-sq.-ft. space is designed to reflect the company’s roots and Arctic heritage. The works of Canadian artisans are showcased throughout the store, which also features gallery-styled displays of vintage pieces from the brand’s archives and a 3,840-pound marble cash-wrap, carved from a single piece of rock and sourced from a quarry in British Columbia.

In Q&A, Target chief merchant talks holiday

Mark Tritton, chief merchandising officer of Target, discusses the chain’s holiday strategy of emphasizing low prices as well as highlighting private-brand clothes and splurges for the season in an interview with the Associated Press.
Report: Popular online brand to open brick-and-mortar stores

The online retailer credited with disrupting the mattress category may be moving into the physical space. Casper, which delivers its mattresses folded in a box, has plans to open a fleet of physical stores, according to help wanted ads placed on its website, according to the New York Post.
Coney Island project signs CVS and Apple Bank

Neptune/6th, a redevelopment of the former site of Trump Village Shopping Center and the Royal Palace Baths in Brooklyn’s Coney Island section, has secured leases from CVS and Apple Bank as it looks toward a summer 2017 opening of its first phase. Cammeby’s is the developer. That phase will include 161,000 sq. ft. of retail, office, and parking in a standalone space across from the old Trump Village site. Three further phases will add 165,000 sq. ft. of retail and parking and a 575-unit residential tower.
Survey finds mixed signals about holiday spending

Not everyone is feeling confident about retail sales. U.S.-based importers and suppliers who sell goods to retailers are not entirely confident consumers are going to open their wallets, according to a new survey conducted by Capital Business Credit, a supply chain finance company.
Abercrombie & Fitch profit plummets as turnaround effort stalls

Abercrombie & Fitch’s efforts to turnaround its struggling namesake brand aren’t finding much traction with shoppers. The teen apparel brand on Friday said that its profit declined 81% in the third quarter and warned that it expects a challenging holiday season for its namesake banner. Abercrombie posted net income of $7.88 million, or 12 cents per share, for the quarter ended Oct. 29, down from $41.9 million, or 60 cents per share, in the year-ago period.
Gap underwhelms as Q3 profit, sales drop

Gap Inc. delivered another weak quarter as store closures outside of North America impacted its profitability and sales continue to slump at its namesake and Banana Republic divisions. The retailer earned $204 million, or 51 cents per share, in the quarter ended Oct. 29. That compares with $248 million, or 61 cents per share, last year. Adjusted results were 60 cents per share, which matched estimates from FactSet.
Report: Retailers lack formal omnichannel demand planning processes

While retailers are focused on unified commerce, most retailers’ planning tools are not capable of supporting this digital environment. This message was revealed in Boston Retail Partners’ “2016 Merchandise Planning Survey,” a report based on responses from more than 500 North American retailers. The report delivers insight into retailers’ planning initiatives, priorities and future trends.
Foot Locker in top form in Q3 profit surges

Foot Locker reported third-quarter profit that surpassed analysts’ expectations. The retailer’s earnings soared 96.3% in the quarter ended Oct. 29 to $157 million, or $1.17 a share, up from $80 million, or 57 cents, a year ago. Total sales increased 5.1% to $1.886 billion this year. Same-store sales were up 4.7%.