News

Hhgregg reports Q2 loss; closes five stores
Consumer electronics and appliance retailer Hhgregg came up short in its second quarter. It also exited the Wisconsin market. The company reported a loss of $18.4 million for the quarter ended Sept. 30, with a loss of 66 cents per share. Losses, adjusted for non-recurring costs and asset impairment costs, came to 51 cents per share. The results fell short of Wall Street expectations.
New York & Co. names Sears, Ann Taylor vet to head up marketing and online
New York & Company appointed Michelle Pearlman as executive VP, e-commerce and chief marketing officer. Pearlman, a member of the company’s board of directors since 2011, has resigned from her duties as a director to lead the company’s omnichannel strategy. In her new role, she will be responsible for the apparel retailer’s e-commerce business, as well as all marketing and visual aspects of the chain’s integrated omnichannel strategy.

Report: Fake retail apps flood Apple’s App Store

Apple’s App Store has been awash in recent weeks with hundreds of fake retail and product apps, the New York Times reported.
Lumber Liquidators names a new CEO

Lumber Liquidators has not had much luck getting its top executives to stick around as of late. The company's chief compliance officer, Ray Cotton, quietly resigned in May of 2015. Then, in November, it elected John Presley as chief executive -- the second time that year it had to change CEOs.
CVS reports solid third quarter but warns of lower profit

Strong results in its PBM business provided a boost during CVS Health’s fiscal third quarter, with the retailer reporting a 23.6% increase in net earnings to $1.5 billion. Revenue increased 15.5% to $6 billion for the period ended Sept. 30.
S.O.S.: The Mobile App as a Lifeline for Brick-and-Mortar Retailers

Consumers gravitate towards convenience for the things that they have to do anyway. They want to get to their intended action with the least amount of unnecessary effort. They’ll even change their behavior to do so. Think of mobile deposits: many consumers have made the switch to using their bank’s mobile app to deposit checks, finding it far more convenient than driving to their local branch or ATM.
Start-up online retailer seeks to disrupt bridal dress category

A pure-play retailer is letting brides say "yes to the dress” in the comfort of their own home.
What Lies Ahead? Cybersecurity Predictions for 2017

“Prediction is very difficult, especially if it's about the future," as Nils Bohr, the Nobel laureate physicist put it. But as the end of 2016 approaches, it’s useful to look forward and try to anticipate the cybersecurity trends that lie ahead, and to reflect on what’s happened over the past year, to see how accurate previous predictions were. For 2016, our predicted cybersecurity threats included:
Report: Chinese shoppers’ interest in Singles’ Day slips

While Singles’ Day has morphed into the world’s biggest shopping extravaganza, the event’s allure may be losing some luster.
Saks Fifth Avenue unveils a sweet holiday theme, along with some special services

Saks Fifth Avenue is transforming its stores into a candy wonderland for the holidays. The retailer’s holiday theme this year is called “Land of 1000 Delights” and it will appear in all 41 Saks’ full-priced stores in the U.S. and Canada. Jumbo swirl lollipops, whipped cotton candy and mounds of rock candy are just some of the colorful décor that will make up each store’s visual displays.