News

In the cool, cool, cool of the city
More and more these days, shopping center developers find themselves in the role of town planner. Once dedicated to creating pleasant spaces for people to shop in, they now are challenged to create places for people to live, play, eat and be entertained in. Build that, they’re told, and shoppers will come. But droves of millennials fleeing suburbs in search of more fulfilling urban lifestyles are giving developers an assist. In some cases, they’re hewing their own downtowns out of rough old sections of town. In others, old downtowns are remaking themselves to welcome this new city stock.
Express tumbles in Q2
Express Inc. cut its annual profit forecast as the chain struggled with declining sales and weak store traffic in its second quarter. The retailer reported net income of $10.1 million for the quarter ended July 30, short of Wall Street expectations, down from $21 million, in the year-ago period. Revenue fell 6% to $504.8 million, also below Street forecasts. Same-store sales, which include online sales, fell 8%, which was worse than analysts expected.

Kantar Retail makes holiday sales prediction

Retailers can expect a slight rise in holiday sales this year compared to last — fueled largely by the online channel. That’s according to Kantar Retail, which released the industry’s first 2016 holiday sales forecast. It projects growth of 3.8% for the fourth quarter, a slight increase over the 3.4% growth in the year-ago period.
Aeropostale creditor argues for liquidation

The battle between bankrupt Aeropostale Inc. and Sycamore Partners has grown more heated. Aeropostale and its junior creditors have come together in an effort to save the chain, but Sycamore isn’t having any part of it. The private equity firm has filed an objection that opposes the retailer’s second amended joint plan of reorganization. Sycamore believes that liquidation is the best option.
Home goods retailer misses in Q2

Kirkland’s reported a second-quarter loss that was larger than expected as it lowered its outlook for the year. The home goods retailer lost $3.6 million in the quarter ended July 30, compared with a loss of $2.3 million in the year-ago period. Net sales for the quarter increased 6.7% to $123.0 million. Same-store sales, including e-commerce sales, decreased 4.3%.
Abercrombie & Fitch expanding global footprint through wholesale deal

Shoppers in select foreign markets have a new way to purchase goods from Abercrombie & Fitch. The retailer on Wednesday announced a wholesale agreement with Zalando SE, a Germany-based online retailer that carries more than 150,000 styles from some 1,500 brands for women, men and kids and counts more than 18 million active customers. Beginning this week, Zalando will start selling Abercrombie & Fitch, Hollister and abercrombie kids products through its online stores in the 15 European markets it serves.
Tech Guest Viewpoint: Pokémon and iBeacons: The new, friendly monsters of location intelligence

Whether you’re an eye-roller or an enthusiastic participant, Pokémon Go is a game that’s difficult to ignore. It does have a lot going for it: nostalgic yet advanced, simple but strategic, and although played on phones, the game incorporates the user’s surroundings to an extent we haven’t really seen before. The “Go” sets the game apart from all others that have come before, Pokémon or not: you simply can’t catch Pokémon while sitting still.
Commentary: The false fight over job loss

Let’s talk about pizza, shall we? A truly historic and transformative moment occurred in Cincinnati, Ohio early this month that changes the way college students can satisfy their late night munchies. Xavier University installed the nation’s first Pizza ATM. It’s open 24 hours a day, seven days a week and serves up fresh, restaurant-quality pizza cooked in minutes. The school’s dining service announced the occasion with a Tweet that reads, “One small step for pepperoni, one giant leap for pizzakind.”
Perfumania names new COO

Perfumania Holdings announced the appointment of Neal Montany as COO of the company, effective Aug. 29. Montany will oversee the fragrance and beauty retailer’s operations, including IT, manufacturing, warehousing and facilities, logistics, loss prevention, purchasing and human resources.
Commentary: Showcase at Sears?

Retail consultants McMillan Doolittle offered the following commentary regarding Sears’ plans to upgrade its apparel offerings with in-store shops dedicated to global brands new to the U.S. market.