News

Five Innovations Transforming How Consumers Shop on Mobile
The abandoned shopping cart rate for mobile shoppers approximates an astounding 97%, according to some estimates. Clearly, this hair-raising stat proves consumers’ deep disappointment with mobile commerce.
Retail revival continues in downtown Detroit
An award-winning comic book store will open in a new ground-up retail development in Detroit.

Vault of Midnight will occupy one the remaining retail spaces in The Z, which now includes several restaurants, art spaces, a sneaker shop and yoga studio.

The 2,000-sq.-ft. shop, expected to open this spring, will offer a broad selection of comic books and graphic novels as well as toys, games, action figures and branded merchandise.

Design Awards Celebration at SPECS

The Retail Design Institute will hold its 45th Annual Awards Gala & Fundraiser on March 12, 2016, at the Hilton Anatole, Dallas, the night before the kickoff of Chain Store Age’s SPECS Conference.

The winners of the competition, including the Store of the Year, will be unveiled at the event, which will also showcase the latest trends in materials, signage, fixturing and in-store technology.
Sprouts Farmers Market sales hit record high

Perhaps no other retailer is profiting as well from Americans' changing eating habits than Sprouts Farmers Market, which reported record sales and earnings for the fourth quarter.

The Arizona-based grocer said that same-store sales during the period ended Jan. 3 rose 7.4%. Net income was $28.2 million and diluted earnings per share were 18 cents. Net sales were $3.59 billion, a 21% increase compared to reported net sales in 2014. Adjusted diluted earnings per share of $0.86, a 19% increase from 2014.
Community of commerce innovators set to gather in Las Vegas

The forces of disruption influencing so much of retail have finally arrived at one of the industry’s most tradition-bound segments. Retail trade events have changed little the past 20 years, but a new event called Shoptalk (May 16-18) is reimagining every aspect of the concept. Event co-founder and chairman Anil Aggarwal spoke with Retailing Today about Shoptalk, what it is, what it isn’t and how he plans to create a community of commerce innovators.

RT: What is Shoptalk?
Dillard’s stocking on its own shares

Dillard’s has approved a new share repurchase program authorizing the company to repurchase up to $500 million of its Class A Common Stock.

The new open-ended authorization permits the company to repurchase its Class A Common Stock in the open market, pursuant to preset trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934 or through privately negotiated transactions. The company completed the authorization under its previous $500 million share repurchase program during the fourth quarter of 2015.
Foot Locker runs away with record sales, profit

The CEO of Foot Locker credits the company's revised strategic framework with single digit sales gains and double digit earnings gains in the fourth quarter.

For the period ended Jan. 30, Foot Locker reported net Income of $1.14 Per Share, a 13% increase from the prior year quarter. Earnings per share were $1.16, 16% above last year. Same store sales increased 7.9%.
Meijer toasts craft beer growth

Twenty years after carrying its first craft brew at a single Kalamazoo store, Meijer is selling more than 34 locally-brewed craft beers each minute in Michigan while continuing to add up-and-coming local breweries to an extensive selection that rivals specialty stores across the Midwest.

Meijer says it expects to continue five years of double-digit volume growth in craft beer sales and plans to sell more than $90 million in craft beer in 2016, including $30 million in local and hyper-local craft beers produced by breweries in Michigan.
CBRE arranges sale of White Bear Marketplace

Minneapolis -- CBRE’s Capital Markets Investment Properties Group announced it has arranged the sale of White Bear Marketplace, located in St. Paul Minnesota, on behalf of its client, Oppidan Investment Company. CBRE’s SVP Jim Leary and senior associate Jeff Budish represented Oppidan Investment Company in the transaction.
J.C. Penney reports strong Q4 sales; debuts 'Penney Days'

J.C. Penney continues to be a bright spot in the retail sector with impressive increases in same-store sales and earnings, as well as a new marketing campaign that is generating a lot of buzz.

On Thursday, the retailer announced that same store sales grew 4.1 % for the fourth quarter ended Jan. 30. A combination of strong sales growth, accelerated gross margins and disciplined expense reduction resulted in full year adjusted EBITDA of $715 million, a $435 million increase.