News

Former chief of Johnny Rockets takes reins of coffee chain
Los Angeles -- The nation’s largest privately held specialty premium coffee and tea retailer has a new chief.

The Coffee Bean & Tea Leaf named John Fuller as its new president and CEO. For the past five years, he served as president and CEO of The Johnny Rockets Group, where he directed operations for the multi-million dollar global restaurant chain, which spans 28 countries with 338 locations. Fuller left Johnny Rockets earlier this year.
Another e-retailer goes from clicks to bricks
Internet retailers entering the physical space continues to be a growing trend, if the new Sole Society store in Santa Monica, Calif., is any indication.

The company opened the doors to its first brick-and-mortar retail store at Santa Monica Place this week. Launched in 2011, the Los Angeles-based online footwear brand kicked up buzz by delivering stylish $100-and-under shoes directly to consumers' doors.

Meet Target's new CFO

Target Corp. has a new finance chief and executive VP. Cathy Smith officially joined the discounter on Sept. 1, coming from Express Scripts, the nation’s largest pharmacy benefits manager, where she was also CFO.

A seasoned retail leader, Smith also held CFO positions at Walmart International, GameStop, and others. Target recently posted a Q&A with Smith on its Bullseye blog. Here are some highlights:

What made you decide to take on this role at Target?
What’s wrong with Five Below?

A rapidly expanding retailer led by a former top Walmart executive is supposed to produce strong same store sales growth, leverage expenses and increase profits. So why isn’t Five Below?

Joel Anderson’s tenure as CEO of value priced retailer Five Below (where everything cost less than $5) is off to an uneven start. The company is achieving its profitability targets, but doing so with productivity improvement in its selling space that is surprisingly weak given the newness of its store base.
RetailMeNot: Consumers work at Labor Day shopping

Austin, Texas – Labor Day is supposed to be a day of rest, but consumers are planning to work at shopping for the upcoming Labor Day holiday Sept. 7.

According to a recent RetailMeNot-Kelton survey, two in three (67%) people planning to spend money this Labor Day will spend an average of $144.

In addition, 13% anticipate their Labor Day spend will exceed $200. While 67% of consumers do actually plan to relax at home, one in three intend to visit the mall.
Founder of online luxury retailer quits as big merger pends

London – Natalie Massenet, founder and chairman of U.K.-based online luxury retailer Net-a-Porter, unexpectedly resigned from the company just as it looks to become a global powerhouse.

The former fashion journalist is leaving as Net-a-Porter, which she launched in 2000, prepares to be purchased from Swiss parent company Richemont by Italian e-commerce retailer Yoox. The merger will create the world’s largest luxury e-commerce group.
Pharmacy sales give Fred's a boost

Fueled in part by increased pharmacy sales, Fred’s reported Thursday that its August sales hit $165.6 million this year, up 12% over August 2014.
Study: The most popular retail POS system is…

Austin, Texas – A new study has identified the most popular retail POS system.

According to research by Software Advice, Lightspeed takes the top spot.

Software Advice assigned Lightspeed a combined score of 4.9 on a five-point scale for its user adoption level, search traffic and social media presence. Following Lightspeed were Microsoft Dynamics (4.7), Vend (4.4), Revel (4.4), Shopkeep (3.8), AP (3.5), NCR (3.2), Bindo (3) and CashierLive (3).
Build-A-Bear builds a new store format in Minnesota

Build-A-Bear Workshop is embarking on an effort to make its iconic in-store experience more fun than ever for kids of all ages with the opening of a new format at America's largest shopping mall.

Part of a company-wide brand refresh, the reformatted store, located on the first level in the north wing, officially re-opened its doors this morning after a multi-month renovation. The ribbon-cutting ceremony featured special guests from Parents in Community Action, Inc., a private, nonprofit that operates Head Start and Early Head Start programs in Hennepin County, Minn.
Kmart pays $1.4 million Medicare settlement

Hoffman Estates, Ill. – Kmart has paid the U.S. government $1.4 million to resolve allegations that it improperly used drug manufacturer coupons and gasoline discounts to reduce pharmacy costs for Medicare patients at Kmart pharmacies.