News

High-definition merchandising: Sharper focus, clearer decisions
While technology and innovation flourish on the consumer side of fashion, inside retail headquarters, merchants and planners still rely on reports and tools that have barely evolved from the three-ring binders and green screens of the 1970s. Merchants and planners, many of whom grew up as digital natives, navigate an awkward time warp: They commute from the consumer world to offices that stifle their skills in interpreting and acting on visual, interactive data and tools.
37.7% of Target shareholders want independent chairman
Target’s annual meeting was pretty much a non-event on June 10, aside from the fact that a corporate structure in which Brian Cornell serves as both chairman and CEO doesn’t sit well with many shareholders.

Study: Retailers want mobile POS, challenges exist

Franklin, Tenn. — Retailers are interested in mobile POS (mPOS) technology, but a number of challenges exist to its widespread adoption. According to a new study from IHL Group, “mPOS: Houston, Do We Have A Problem,” 78% of retailers planning to make a new mobile POS decision by mid-2016.

In addition, 66% of enterprise retailers say they want their existing POS software vendor to provide their mPOS solution. However, it takes chain retailers an average of 9.7 months to deploy a mobile POS solution.
Pepsi pops open summer marketing campaign

Retailers with Pepsi on their shelves will be happy to know that the brand is putting out all the stops to entice shoppers to make Pepsi products part of their summer.

The beverage company is embarking on a summer marketing campaign that promises to deliver one-of-a-kind fan experiences to some of the hottest music and sporting events, restaurants and travel destinations.
Pep Boys names Hertz veteran as CEO

Philadelphia — The Pep Boys: Manny, Moe & Jack named Hertz Corp. veteran Scott P. Sider, 54, as its new CEO, effective June 15. He most recently served as group president of Hertz Corporation’s largest division, Rent A Car Americas, with over 3,200 locations.

The announcement comes more than eight months after Pep Boys CEO Michael Odell resigned on the heels of disappointing second quarter earnings.
Target CEO talks about new partnernship with CVS

Target chairman and CEO Brian Cornell commented on the chain’s new partnership with CVS Health in a Q&A on Target’s blog, A Bullseye View. Here are some excerpts:
Extreme-value retailer Ollie's files for IPO; sees potential for 950 stores

HARRISBURG, Pa. — Extreme-value retailer Ollie’s Bargain Outlet Holdings on Monday filed for an initial public offering. With a tagline of "good stuff cheap,” Ollie’s operates 181 stores in the Eastern United States, expects to open 25 to 30 stores in fiscal 2015 and sees the potential for more than 950 locations across the country. (For more on Ollie’s, click here.)
Gap to close 175 stores, lay off 250 employees

Gap Inc. is planning to close 175 of its Gap stores and streamline its workforce by as many as 250 positions as the struggling retailer moves to re-ignite productivity and growth at its namesake brand.

The company says the series of strategic actions are part of a comprehensive effort to deliver more consistent and compelling product collections and engage customers across all channels.
Target to sell pharmacy business to CVS

Woonsocket, R.I., and Minneapolis —Target plans to sell its pharmacy business to CVS Health for $1.9 billion and rebrand its nearly 1,700 prescription departments as CVS/pharmacy in a blockbuster deal that stunned the healthcare world.
German grocer seeks a Lidl slice of Aldi's market

U.S. consumers have more options for grocery shopping than ever before. But German discount grocer Lidl, aiming to emulate the U.S. success of the growing Aldi chain, says it will “create a unique experience for American consumers that will be unlike anything else in the market.”