News

Toys"R"Us names new global leader
Toys“R”Us has promoted its senior vice president of store operations to a global leadership role.
Nordstrom teases New Yorkers with a glimpse of the future
Nordstrom revealed dramatic plans for a massive and elaborate flagship in Manhattan designed to wow residents of a city accustomed to the best retailers have to offer.

The approximately 363,000-sq.-ft. store will encompass four individual properties in the Columbus Circle neighborhood of Manhattan, along Broadway between West 57th and West 58th Streets. Slated to open in 2019, it will be the retailer’s second largest store to date (the largest, at 383,000 sq. ft., is in its Seattle hometown).

What went wrong at Advance Auto parts

Warm weather hurt sales at Advance Auto Parts in the fourth quarter, but other factors were in play too as the company’s performance lagged competitors.

The retailer said same store sales were negatively impacted by the timing of the New Year's day holiday, which fell in the 53rd week last year, by the foreign exchange currency fluctuations from its Canadian business, and by warmer winter weather.
O’Reilly eyes more stores following record year

More than 200 O’Reilly Automotive stores are expected to open in 2016 after the nation’s third largest auto parts retailer logged strong fourth quarter results and its 23rd consecutive year of same-store sales growth.
Sun Capital sees significant expansion ahead for latest acquisition

Private equity firm Sun Capital Partners plans to accelerate growth of Furniture Factory Outlet following its acquisition of the 36 store chain.

Based in Fort Smith, Ark., Furniture Factory Outlet (FFO Home) operates 36 stores in Arkansas, Missouri, Oklahoma, and Kansas. Sun Capital said it acquired the company, billed as a value-oriented home furnishings retailer, from Alpine Investors and believes significant expansion opportunities exist. The company also manufactures bedding under the Comfort Coil and Natural Elements brands.
Whole Foods reveals more 365 locations

While Whole Foods continues to work on the performance of its flagship stores, the company disclosed new locations and expressed confidence in its 365 format even though the first unit is scheduled to open until May.
eBay thinks retail

Following a disappointing 2015 holiday season, eBay is changing its mindset to become more competitive with e-commerce peers such as Amazon. According to Fortune, eBay CEO Devin Wenig recently outlined plans for eBay to approach the marketplace more like a retailer and less like a technology platform. [Fortune]
Jet puts customer engagement into high gear

Online retail platform Jet is getting a better idea of how well its customer service efforts are working with a new tool from service measurement/optimization company StellaService.
Amazon.com reassures investors with big buyback

With its share price in free fall after badly missing analysts’ fourth quarter profit estimate, Amazon.com has decided to spend billions buying back its own shares.

Amazon.com disclosed in a filing with the Securities and Exchange Commission that it named a new board member and its board authorized the company to repurchase up to $5 billion worth of the company’s common stock. The new authorization replaces an existing $2 billion authorization that was approved in 2010, of which only $1.237 had been expended.
Shoppers see beam of hope for mobile loyalty

A number of major retail chains are leveraging a mobile app that allows scanners to read barcodes on smartphones.

Shoppers at retailers including CVS, Walgreens, Kroger, Nectar, Rite Aid, Toys “R” Us, Best Buy, PetSmart, Staples, Safeway, and Giant Eagle are using the Mobeam 4.0 Beep’nGo app for Samsung Android mobile devices. The app, which can integrate with existing payment apps, allows customers to use barcode-based loyalty cards, gift cards and coupons on their smartphone at checkout scanners.