News

Study: Consumers frustrated by chip-card progress
Consumers’ lack of enthusiasm around the value of chip card usage could impact the upcoming holiday season. This month marks the year anniversary of the introduction of mandated Europay, MasterCard, Visa (EMV) chip card payments at retail stores across the United States. However, high levels of consumer frustration and confusion remain widespread, according to new research published by Cayan, a payment technology provider.
Moody’s: Food offerings giving Walmart edge over Target
Wal-Mart Stores and Target Corp. stand at very different junctures, according to new report from Moody's Investors Service. Walmart is starting to reap more discernible rewards as it adapts more quickly to a rapidly-changing consumer landscape -- and with fewer missteps -- than Target has managed, according to the report, "Wal-Mart Stores, Inc. and Target Corporation: Walmart Is Gaining Momentum, While Target Is Still Clawing Back Lost Ground."

Outdoor retailer makes strategic credit card agreement

Bass Pro Shops is entering into a 10-year agreement with Capital One, a move that will make the card provider the exclusive issuing partner of co-branded credit cards to Cabela's customers.
Eddie Lampert: Kmart is not closing

Don’t believe the rumors. Kmart is not going out of business. That’s according to Eddie Lampert, the beleaguered CEO of Kmart parent company Sears Holdings Corp.
How to Attract More In-Store Sales

Online shopping is great. It saves time, provides tons of options in one place, and the customer doesn’t have to navigate swarms of people to checkout. Younger generations value this, and are moving the majority of their shopping online. But that doesn’t mean retailers can’t pull customers back to their brick-and-mortar stores. Here are four recommendations to entice customers back into your stores: 1. Attentive Customer Service
Bass Pro Shops to acquire rival in $5.5 billion deal

Bass Pro Shops has agreed to acquire Cabela’s in a deal that will allow the privately held Bass Pro to nearly double its store count. Bass Pro plans to purchase Cabela’s for about $65.50 a share in cash, which represents a 19% premium over Friday’s closing price. The agreement will create an outdoor retail powerhouse that specializes in fishing, hunting and boating merchandise. Both companies are known for their elaborate, wilderness-themed store interiors.
Bonobos takes Madison Avenue space

Bonobos opened its fifth Manhattan store this week on Madison Avenue, surrounded by neighbors that include Porsche Design, Tourneau, Dino Baldini, and Lladro. Called the Bonobos Guideshop NYC, the store inhabits a 1,725-sq.-ft. ground floor space with all-glass frontage on the southwest corner of 52nd Street in the shadow of St. Patrick’s Cathedral. The deal was brokered by RKF.
Teen apparel retailer ousts longtime CEO; taps Target exec as head merchant

Rue 21 announced a series of leadership changes as it looks to reinvigorate its brand. In a surprise announcement on Saturday, the retailer said it had appointed CFO Keith McDonough as interim CEO, succeeding Bob Fisch, who has served as president and chief executive of Rue 21 since 2001.
Starbucks, South Side of Chicago
Sporting goods retailer makes executive moves

Big 5 Sporting Goods Corp. is losing a 46-year company veteran. The retailer announced the retirement of Richard A. Johnson as executive VP. As part of the transition following Johnson’s retirement, Michael P. Marrone is being promoted to senior VP of store operations. Marrone began his career with Big 5 in 1973 as a store sales associate. He held numerous leadership roles of increasing responsibility at the company, and was named VP of store operations in 2002.