News

Target lays off 550; Canada chief returns to U.S.
The president of Target Canada will return to the fold in the United States as the company shuts down its Canadian operations.

According to the Minneapolis-St. Paul Business Journal, Target Canada president Mark Schindele will return to the company’s U.S. operation and assume a new position of senior VP of retail properties.

The newspaper also reported that about 550 employees in Minnesota were laid off, the biggest reduction at its headquarters since 2009.
Sales outlook keeps getting better for retailers
Retail sales will accelerate in 2015 and grow at the fastest pace since 2011, according to a recent forecast from the National Retail Federation.

The trade group said Retail sales (excluding automobiles, gas stations, and restaurants) will increase 4.1% in 2015, up from 3.5% in 2014. The increase would mark the biggest annual growth since 2011 when retail sales for the year increased 5.1%. Non-store sales in 2015 are expected to grow between 7% and 10%.

Obama makes strong appeal for public-private cooperation for cybersecurity

Palo Alto, Calif. -- Describing cyberspace as the new "wild, wild West," President Barack Obama on Friday said that while everyone expects the government to be the sheriff, the private sector must do more to stop cyberattacks. He also called for the passage of a single national standard requiring consumers to be notified within 30 days if their financial or personal data is stolen.
Upscale retailers make landfall in Puerto Rico

Puerto Rico is home to many retailers’ most productive units and now Saks and Nordstrom are looking to get in on the action when they open their first locations next month in the island’s new Mall of San Juan.

The mall is set to open March 26, two and a half years after breaking ground, and will contain a 138,000-sq.-ft. Nordstrom and a 100,000-sq.-ft. Saks. The property also includes a hotel and a casino.
Planalytics: Cold temperatures to drive winter clearance sales, limit demand for spring categories

New York -- On Valentine’s Day weekend and continuing into the following week, cold temperatures will hold a grip on virtually all markets from the Rockies to the East Coast of North America, with most markets trending much below normal, according to business weather intelligence firm Planalytics. The cold will drive winter clearance sales while limiting demand for spring seasonal categories.
Cybersecurity Summit: Apple CEO defends consumer privacy

Palo Alto, Calif. -- Tim Cook, CEO of Apple, defended the consumer’s right to privacy and security on Friday in remarks at the White House Summit on Cybersecurity and Consumer Protection.
The Customer Service Advantage: Innovative Learning Solutions

How do you mold a large workforce with a significant part-time segment into experts in home improvement so customers get the answers they need every time they walk in the doors of The Home Depot?

It requires committed associates, strong leaders, and innovative learning solutions.
Going direct: VF shows retailers how to grow

After opening 75 stores in the fourth quarter and with expectations for 150 units this year brand powerhouse VF Corporation has emerged as one of the nation’s fastest growing retailers.

VF is best known for brands such as The North Face, Vans, Timberland, Wrangler, Lee and Nautica that are sold through other retailers. However, rapid store expansion in recent years has seen the direct-to-consumer business steadily account for a larger percentage of sales.
Williams-Sonoma toasts culinary Team USA

Williams-Sonoma is leveraging the brand equity of a renowned culinary competition, not to mention famed celebrity chef Thomas Keller, to attract more foodies to its stores.

The retailer has been hosting events at stores across the country celebrating Team USA after its medal win at the prestigious Bocuse d’Or International Culinary Competition in January.
Tech Guest Viewpoint: Three Things That Could Stall Apple Pay in 2015

By Jim Maholic, Hitachi Consulting

Apple’s new mobile wallet solution, Apple Pay, was introduced to great fanfare as shoppers headed into the 2014 holiday shopping season armed with the new iPhone 6 and iPhone 6 plus. Apple was quick to proclaim its success with one million activations in the first 72 hours – instantly vaulting it to the top, according to Tim Cook.