News

Study: Holiday season has a dark side
Retailers had better watch out, as ’tis the season for fraud — especially in an age of omnichannel retail. Omnichannel retailing opens up new avenues for fraudsters — especially during the holidays, according to the “Annual Holiday Fraud Index” from Radial. The study, based on data from hundreds of clients and billions of data elements, reveals Europay, Mastercard, Visa (EMV), cross-border, and digital gift card trends that could put retailers’ bottom lines at risk.
Report: J. Crew mulls options for its popular Madewell brand
J. Crew Group is reportedly considering options for its popular Madewell brand, which it launched in 2006. According to Reuters, the retailer, which has struggled with slumping sales in its namesake division, is working with investment bank Lazard Ltd. to assess multiple strategic and balance sheet options for Madewell, which operates some 108 stores.

Staples brand to disappear from the United Kingdom

A familiar U.S. retailer will soon make its exit from the U.K. retail scene. Staples, which operates some 105 stores in the United Kingdom, has agreed to sell its U.K. retail business and operations to Hilco Capital Limited. The use of the Staples brand in the U.K. will be phased out over the coming months. In May, Staples announced plans to explore strategic alternatives for its European operations as part of its new strategy.
Kronos: Tips for reducing holiday turnover

The ghost of holidays past hangs over many retail workers, according to a new study of part- and full-time retail employees by Kronos. Forty-percent of employees in the survey said that their employer did not have enough staff in previous years to account for the amount of shoppers they receive at their store. And 53% are worried about getting burned out during the holiday season.
Staples Q3 revenue falls short

Staples Inc. on Thursday reported earnings for its third quarter in line with its expectations but revenue fell short of forecasts as same-store sales fell. Earnings came in at $179 million, or 27 cents a share, compared with $198 million, or 31 cents a share, a year ago. Adjusted earnings came in at 34 cents a share. Total company sales fell 4% to $5.4 billion in the quarter ended Oct. 29, missing estimates.
Best Buy shines in Q3 but Samsung recall may dent holiday

Best Buy Co.’s sales and profits in the third quarter topped forecasts, but the retailer warned that the recall of a Samsung smartphone is likely to impact its holiday sales. Best Buy’s profit jumped 55% to $194 million, up from $125 million in the same period a year ago. Adjusted for one-time expenses, it earned 62 cents a share, which was higher than the 47 cents analysts were expecting.
Ikea expanding renewable energy portfolio with new technology

Ikea is rolling out biogas-powered fuel cell technology to more stores. The home furnishings retailer has installed the fuel cell systems at two Southern California stores, in Costa Mesa and Covina. In addition, Ikea also is planning to deploy fuel cell systems at its store in East Palo Alto, Calif., as well as its store in San Diego and in New Haven, Conn. (Ikea first deployed the technology over a year ago, at its store in Emeryville, Calif.).
Williams-Sonoma’s under-the-radar Rejuvenation opens in Chicago

A retailer that specializes in reproductions of classic home products and house parts is expanding under the ownership of Williams-Sonoma. Rejuvenation will open its seventh retail location on Nov. 21, in Chicago’s Lincoln Park neighborhood. The 6,000-sq.-ft. store is the retailer’s first Midwest location.
Forrester: Online holiday sales to increase 13%

U.S. online holiday spending will reach $112 billion in 2016, growing 13% over 2015. That is according to Forrester’s Holiday Retail Sales Forecast, which said that while online sales are 12% of annual retail sales, they jump to 16% of total holiday sales during the November and December months.
Crate and Barrel expands online assortment with new marketplace

Move over Amazon Marketplace — Crate and Barrel is moving onto your turf. Crate and Barrel has expanded its online assortment by launching its own marketplace, which it describes as a highly curated selection of products based on Crate and Barrel's merchandising style. Shoppers enter the marketplace directly from the retailer’s website.