News

Retail marketers take heed: Facebook's appeal is fading among teens even as two other platforms continue to pick up momentum.  

Target has given its two-level store at Nicollet Mall in downtown Minneapolis a $10 million top-to-bottom overhaul that combines the best of the retailer's digital and technology upgrades, elevated merchandise presentations and fulfillment services, with a goal to making the shopping experience  fast, efficient and fun.  

In a move that reflects the increased prominence of digital in traditional retail operations, Macy's has hired a senior eBay executive as president of its namesake brand.    Hal Lawton has been named president of Macy’s, effective Sept. 8, 2017. He will be responsible for all aspects of the Macy’s brand, including merchandising, marketing, stores, operations, technology, and consumer insights and analytics. Lawton will report to CEO Jeff Gennette, who previously held the role before becoming chief executive in March. 

Macy's is streamlining its merchandising operations, expanding its exclusive products and putting increased emphasis on customer insights and data analytics as new CEO Jeff Gennette begins to make his mark on the ailing department store giant.       

There are some major changes going on at Kohl's stores.   The department store retailer announced plans to make nearly half its locations "operationally smaller through balancing inventory and adjusting fixtures" by the end of 2017. To date, the new interior layouts have been rolled out in 300 Kohl's locations.   

Retailers still have time to capitalize on their second biggest selling season of the year.   Only 45% of households with children in grades K-12 had completed of their shopping as of early August, according to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics. That’s down from 52% at the same time in 2013 and 48% last year.     

Build-A-Bear Workshop is holding steady.   The specialty retailer's board of directors has completed its review of strategic alternatives and authorized a share repurchase program of up to $20 million. Build-A-Bear initiated the review in May 2016 after a sharp decline in net income in its first quarter, saying at the time that it would consider "all" options to boost shareholder equity, including a sale.     

Discount footwear retailer DSW topped analysts’ predictions for the second quarter fueled by an unexpected increase in same-store sales.   Net income was $28.6 million, or 35 cents a share, in the quarter that ended July 29, compared with $25 million, or 30 cents a share, in second quarter 2016.   Sales rose 3.3% to $680.4 million. Same-store sales edged up 0.6%, the first positive comp quarter since 2015. Analysts had expected same-store sales to fall 2%.   

Overall, this is a solid set of results from DSW which shows the company is moving in the right direction. The 0.6% rise in comparable sales may not be spectacular, but given it is the first time in over two years that the measure has been positive, we see it as an encouraging sign.  

Sears Holdings is expanding the distribution of two of its iconic brands.   Cleva North America will manufacture vacuum cleaners and floor cleaning accessories under the Kenmore and Kenmore Elite brands. The company will be able to sell the products to retailers around the world.