News

Another high-profile Target exit: Grocery chief leaving
That was fast. Anne Dament, senior VP of grocery merchandising for Target Corp., is leaving the chain, after less than 18 months on the job. Her last day will be Nov. 18. Damen’s exit will mark the third high-level executive departure at Target in less than three months. In August, the chain’s chief marketing officer, Jeff Jones, resigned to join Uber. And in September, chief digital officer Jason Goldberger left.
Saks Fifth Avenue continues brick-and-mortar expansion
Saks Fifth Avenue has opened its third location in Miami, and seventh location year to date, at the just opened Brickell City Centre in the city’s financial district.

AmEx: Holiday spending, mobile usage jumps this holiday season

It may only be the first week of November, but American shoppers are steadily crossing items off of their holiday shopping lists. As of the end of September, one-third (33%) of consumers had already started their holiday shopping, up significantly from 25% in 2015. Further, they expect to spend an average of $908, an 8% increase from last year ($839 in 2015). Among affluent consumers, this threshold increases to an average of $1,513.
New retailers fill redeveloped New Jersey center

Target, HomeGoods, and Petco will be opening this month at Closter Plaza, a Whole Foods-anchored center in Closter, New Jersey, undergoing a complete redevelopment. Owner Edens has stated it is “re-energizing” the 208,337-sq.-ft. center with tenants possessing greater appeal to affluent local residents. The developer reports that the average household income within a five-mile radius of the center is $134,000.
Name change for P&R Architects

Architectural firm P+R Architects (Perkowitz + Ruth Architects), based in Long Beach, California, has changed its name to Retail Design Collaborative.
Alibaba drives quarterly revenue despite Chinese economy

China’s sluggish economy didn’t stop Alibaba from increasing revenue by 55% for the September quarter.
Report: Disillusioned Black Friday shoppers will head online

Black Friday may be considered one of the biggest shopping events of the year, but interest among consumers continues to dwindle. Specifically, 31% of respondents in the United States said they have always disliked shopping on Black Friday, and 29% believe it is simply a marketing trick with retailers manipulating pricing to convince consumers they are getting a good deal.
Holiday forecast: Digital promotions to help drive in-store purchases

Holiday spending is expected to spike by a solid 4%. That’s according to the “2016 Holiday Season Forecast,” an annual report from investment firm JLL that is based on responses from 2,800 shoppers across 31 shopping centers.
Instagram helps its users go shopping

In addition to posting, liking and commenting on photos, Instagram users now can also purchase from their favorite brands. Starting Tuesday, Nov. 1, the mobile-driven social site added shoppable tags on photos from 20 retail brands, including Kate Spade, Warby Parker and JackThreads, among others — a move that will enable consumers to learn more about the items they view within an Instagram post, and even make a purchase.
Sears executive jumps ship for party supplies specialty retailer

Party City has nabbed a 22-year retail veteran to head up its retail operations. Party City Holdco Inc. announced that Ryan Vero has joined the company as executive VP of PCHI and president of Party City retail group. Vero, who will have full responsibility for all of Party City’s North American retail operations, including some 900 brick-and-mortar stores and e-commerce, recently served as president, grocery and drugstore at Sears Holdings.