News

Target is reportedly requesting that many of its suppliers assume up to 3% to 5% more of the cost of promotions and price reductions on some items.

According to Reuters, at least 12 Target suppliers have confirmed they were asked to pay for more of the promotional cost for a variety of slow-moving products. Target reported declining sales in its most recent fiscal quarter and publicly said it would likely enter an extended promotional period.

Another day, another finance chief at a well-known retailer is leaving.

Jane Hamilton Nielsen, CFO at Coach Inc., will be departing the company to pursue another opportunity. In order to facilitate a smooth transition, Nielsen is expected to stay into August 2016. The company is commencing a search for her permanent successor with Crist Kolder Associates. Andrea Shaw Resnick, global head of investor relations and corporate communications, will be appointed interim CFO until a permanent appointment is made.

Jo-Ann Fabric and Craft Stores is promoting Chris DiTullio to senior VP, marketing and omnichannel.

While at Jo-Ann, DiTullio has served as interim senior VP, marketing; VP, e-commerce and omnichannel; VP, marketing and advertising; VP, inventory management; and director, merchandise planning.

Fairway Group Holdings Corp., the parent company of Fairway Market, has received a verdict on its May 2016 bankruptcy filing.

The iconic New York food retailer had its Chapter 11 bankruptcy reorganization plan unanimously accepted by 100% of voting secured lenders and confirmed by Bankruptcy Judge Michael E. Wiles. Fairway is expected to emerge from bankruptcy during the week of June 20, 2016 with approximately $50 million in cash, a $140 million reduction of its debt and a reduction of annual debt service obligations by up to $8 million.

Bob Dylan sang “The Times They Are A Changin’” more than 50 years ago, but the sentiment is very current in the world of digital commerce.

When it comes to customer experience, not all grocery chains are created equal.
 
According to the new Customer Quotient (CQ) survey from global customer intelligence agency C Space, Trader Joe’s is the most customer-centric grocer. Conversely, Shaw’s scored the lowest of 27 options.
 

Purdys Chocolatier, a 74-unit Canadian chain based in Vancouver, British Columbia, has launched a new digital shopping experience.
 
The company is leveraging the Aptos Digital Commerce platform with integrated Aptos Enterprise Order Management. Purdys operates stores in several Canadian provinces and also operates an e-commerce business throughout North America. The retailer’s new fully responsive website replaces two legacy e-commerce systems, enabling it to support singular commerce and seamless experiences.
 

CVS Health on Tuesday announced that the first CVS Pharmacy locations in Target stores are now open in Washington.