News

Williams-Sonoma not feeling too bullish
Williams-Sonoma Inc. reported mixed results for the second quarter, and issued a weak outlook for the current quarter amid "a more cautious consumer.” The retailer reported net earnings of $51.8 million for the quarter ended July 31, compared with $53.7 million in the year-ago period. Net revenues increased 2.1% to $1.16 billion, short of expectations, up from $1.13 billion last year.
Bonobos moves to the cloud for content management
Bonobos has decided to move from a consumer file sync and share solution to enterprise-wide content management in the cloud. The menswear retailer is deploying Box’s content management platform enterprise-wide for managing and collaborating on content in the cloud.

Walmart and Jet.com: The future of clicks and mortar

On Aug. 8, Walmart announced it would buy Jet.com -- one of the fastest growing e-commerce companies in the U.S. -- for a whopping $3 billion.
Online home furnishings retailer moves into virtual reality

Wayfair Inc. has launched an in-house developed virtual reality app to help customers plan their outdoor patio area. The retailer’s new Patio Playground application uses Facebook’s Oculus Rift platform, Developed by Wayfair Next, the company’s in-house research and development team, the app allows shoppers to immerse themselves in an inspirational landscape, where they can explore, rearrange, and discover furniture and décor from Wayfair’s catalog.
Report identifies holiday shopping challenges

Consumers expect to spend the same or less on holiday gifts this year. That’s according to Berkeley Research Group, whose 2016 Holiday Retail Outlook report also identified five major challenges facing retailers as they head into the holiday season.
Best Buy puts out welcome mat for connected store concept

Best Buy has opened a pop-up dedicated to smart technology products for the home in the rotunda of the nation’s largest mall.
Ikea to power up with fuel cells in Northeast

Ikea is extending its renewable energy commitment with plans for its first biogas-powered fuel cell system on the East Coast. The home furnishings giant contracted Bloom Energy, Sunnyvale, California, for the design, development and installation of the system, which will be located at Ikea’s location in New Haven, Connecticut. Combined with the 940.8-kW solar array that was installed atop the store in 2012, the fuel cell project will help generate a majority of the store’s energy onsite.
Forest City to consider disposing of retail assets

Forest City Realty Trust may be on its way to having a greatly reduced investment in the mall industry and a bigger one in apartments and office assets. The Cleveland-based firm announced it is reviewing strategic alternatives for its retail portfolio. Forest City holds ownership stakes in 14 regional malls across the country and 19 specialty retail centers, mostly in New York City. The East River Plaza, which fronts the FDR Drive in Manhattan at 116th Street, is a Forest City property.
Q & A: Meeting the Rising Demands of Consumers in an Omnichannel World

John Byrde, General Manager, Omnichannel Technologies of omnichannel commerce solutions provider Radial, discusses challenges and opportunities for retail CFOs who are evaluating IT decisions.

Chain Store Age: How do you meet the needs of the modern omnichannel consumer?
Best Buy full of surprises in Q2

Best Buy Co. exceeded analysts’ expectations on several fronts in its second quarter. Profit surged a better-than expected 21% in the quarter ended July 30, rising to $198 million from $164 million in the year-ago period. Best Buy’s overall revenue totaled $8.5 billion, which was basically flat with last year, but also better than expectations.