News

Target opens Lily Pulitzer pop-up; line to drop Sunday in stores
New York - Target Corp. on Thursday opened a pop-up shop at Bryant Park in mid-t0wn Manhattan selling what many experts say will be one of its most popular designer collaborations to date: A 250-piece Lilly Pulitzer for Target collection. According to reports, 500 to 600 people were waiting in line at 8 a.m. when the temporary store opened.
Can international expansion really be this easy?
Physical expansion remains the primary growth driver of many a U.S. retailer, but the likes of Alibaba and rival JD.com are allowing U.S. retailers and brands to tap the Chinese market without the aggravation and financial uncertainty associated with establishing a physical presence.

Sherwin-Williams boosts profit in Q1

Cleveland – Increased gross profit resulting from a slowing pace in the cost of goods sold helped boost net income at The Sherwin-Williams Co. during the first quarter of fiscal 2015. Net income totaled $131.4 million, up 14% from $115.46 million the same quarter a year earlier.

Net sales grew 3% to $2.45 billion from $2.37 billion, due primarily to higher paint sales volume in the retailer’s Paint Stores and Consumer groups.
Meijer pilots curbside pickup of groceries

Grand Rapids, Mich. - Meijer is the latest retailer to test out curbside pickup of online orders. The regional mass merchandise chain is piloting a new shopping service called Meijer Curbside that lets customers pick up grocery orders curbside without leaving the car.
Carlyle Group eyes retail and CPG world with Walmart exec on team

Former Walmart CEO and current board member Mike Duke is the newest operating executive at the Carlyle Group, which suggests the pace of deal-making activity in the retail and consumer packaged goods world could be about to heat up.
Etsy completes IPO; valued close to $4 billion

Brooklyn, N.Y. – Etsy Inc., the online marketplace for handmade arts, crafts and clothing, has gone public with a bang. Shares opened on Thursday at $31 a share, almost twice their initial public offering price. As of April 16, Etsy is trading on the NASDAQ stock exchange under the ticker symbol “ETSY.”

After the offering, the total number of shares outstanding will be 110.9 million. Based on the opening price, Etsy is valued at over $3.7 billion.
99 Cents Only caps record year of expansion

A record number of openings in 2014 pushed 99 Cents Only close to the 400 unit mark, but the rapid pace of expansion did not translate to profitability during what the company called a transformative year.
Saks names new head merchant

Tracy Margolies has returned to Saks Fifth Avenue to leading the department store retailer’s merchandising efforts.

Margolies is no stranger to the Saks organization or upscale department store retailing. She spent the past two and a half years as a senior vice president and general merchandise manager at Bergdorf Goodman.
99 Cents Only Stores shrinks Q4 net loss

City of Commerce, Calif. – 99 Cents Only Stores Inc. shrank its net loss to $2.3 million in the fourth quarter of fiscal 2015, compared to net loss of $14.7 million for the fourth quarter of fiscal 2014. Net loss decreased primarily due to a previously disclosed workers' compensation charge in the previous fourth quarter.
Net sales slightly rose 1% to $512.6 million from $505.7 million. Same-store sales climbed 2.8%.
Lowe’s ready to paint this spring

An inventory build at Lowe’s in preparation for the launch of a new HGTV Home brand of paint was cited as the source of strong sales growth by paint supplier Sherwin Williams.

Spring is a popular time for painting and home improvement retailers typically promote the category extensively. Lowe’s looks to be ready for the season with a new brand launching called HGTV Home by Sherwin Williams.