News

Amazon confirms second location for Amazon Books
The giant of online retailing apparently is developing a taste for brick-and-mortar.

In news that is likely to set off a wave of speculation, Amazon confirmed it will open its second physical bookstore, this time at Westfield UTC mall in San Diego, California. Amazon Books is expected to open at the open-air shopping center sometime this summer.
Profit rises 14% at Children's Place in Q4
The Children's Place posted strong same-store sales for the fourth quarter as the children’s clothes retailer also released an upbeat forecast for the year.

For the fourth quarter ended Jan. 30, net sales increased 4% to $498.5 million. Same store sales increased 6.7%. Net income was $17.5 million, or 87 cents per diluted share, in the fourth quarter of 2015, compared to net income of $17 million, or 79 cents per diluted share, the previous year.

What CPG companies need to win online

As the notion of channel conflict subsides, consumer packaged goods companies who don’t elevate their digital game are playing to lose and a new study from a two industry leaders shows just how much.
Ikea plans more expansion in California

Ikea had submitted plans to build its ninth store in the state of California, in the Bay Area suburb of Dublin.

Pending approvals, Ikea could begin construction of the store in spring 2017, with an opening in summer 2018. The retailer plans to evaluate potential on-site power generation to complement its current U.S. renewable energy presence at nearly 90% of its U.S. locations.
Best Buy adds Silicon Valley heft to board

The board of directors at Best Buy Co. is losing a longtime board member and gaining a new voice with experience in forming relationships with top venture capitalists in Silicon Valley.

The retailer announced that former CEO Brad Anderson will retire from the board of directors and that the company has appointed corporate venture capital leader Claudia Fan Munce to the board.Anderson will serve the remainder of his term through the end of the annual shareholder meeting on June 14. Munce will stand for election at that time.
Newegg says ‘eh’ to same-day pickup

Soon Canadian technology enthusiasts will have a new, faster option for fulfilling online purchases.

Digital computer and electronics retailer Newegg is opening a physical pickup center at its warehouse in Vancouver. In September 2015, Newegg sought to decrease the time and cost associated with order fulfillment to customers in Western Canada with the opening of its Vancouver warehouse.

Adding the pickup center now gives customers in the Vancouver area the chance to fulfill their orders the same day, with no delivery fee.
Can retailers count on the Bieber effect this spring?

Retailers who sell Calvin Klein brand apparel are watching sales closely to see how the fashion brand is impacted by a new deal with pop star Justin Bieber that changes how brands engage with celebrities to drive sales.

Bieber has embarked on a world tour for the first time in four years to support his new best-selling album "Purpose" – and help sell Calvin Klein products. That’s good news for retailers because Bieber has lots of fans and the Calvin Klein brand will be deeply woven into live performances and integrated into social media efforts.
Albertsons acquires remaining 29 Haggen locations

Albertsons on Monday submitted a binding bid letter and form of Asset Purchase Agreement to Haggen for the purchase of 29 of Haggen's core stores, confirming reports that Alebertsons would seek to acquire the remaining Haggen core. This is a step in the process to obtain bankruptcy court approval, following Haggen's Chapter 11 filing on September 8, 2015, which is required for consummation of the purchase.
eBay expands shipping partnership

eBay is providing a shipping optimization option to an increased range of sellers.

The online auction platform is extending its integration with Silicon Valley-based on-demand shipping startup Shyp. Having already run pilots of Shyp in New York, Chicago and San Francisco, eBay is now piloting the service in Los Angeles.

Shyp will pick up the items sellers have sold within 20 minutes, professionally pack them, and mail them straight to the buyer on their behalf.
Stein Mart names a new CEO

Stein Mart has named a new CEO just a week after a tough fourth quarter in which the retailer posted a decline in profit.

The Florida-based company says it has appointed Dawn Robertson as CEO and a member of the board of directors. Robertson will also have the responsibilities of chief merchant for the foreseeable future, the company said. She succeeds Jay Stein, the company's founder and long standing CEO, who had advised the board of his desire to step back from that position but remain Stein Mart's chairman of the board.