News

First Look: Indochino, King of Prussia, Pa.
Online made-to-measure retailer Indochino expands its brick-and-mortar footprint with its largest location to date, a 4,100-sq.-ft. space at King of Prussia mall, King of Prussia, Pa. The new outpost caps off a busy summer for the Canadian retailer, during which it also opened a second location in New York City, and flagships in Chicago and Washington, D.C. Earlier this year, the company opened two storefronts in Canada, in Edmonton and Vancouver. It currently has a total of 17 stores in North America.
Vitamin Shoppe launches online subscription service — with a hook
Taking a page out of Birchbox's play book, The Vitamin Shoppe is going to be sending out personalized sample boxes of new products.

Analyst: Penney turnaround is a long-term endeavor

Although J.C. Penney's numbers are not a disaster and represent a significant sequential improvement over the prior quarter, they are nevertheless underwhelming. While we maintain the company is moving in the right direction, the lack of progress on profit and same-store sales both highlight that the turnaround program is a long-term endeavor that will take some time to deliver.
J.C. Penney loss widens on store closing efforts; to boost apparel

Liquidation efforts took a toll on J.C. Penney in its second quarter, which reported earnings and same-store sales below estimates. Penney's net loss widened to $62 million in the quarter ended July 29, or 20 cents per share, from $56 million, or 18 cents per share, in the year-ago period.
PetSmart CEO resigns

The chief executive of the nation's largest specialty pet retailer of services and solutions has left the building. PetSmart announced that Michael J. Massey has stepped down from his position as CEO, president and board member. Raymond Svider, managing partner at BC Partners, will serve as executive chairman and oversee the company’s operations with the senior leadership team while the board searches for a new chief executive.
Nike Kicks Lounge, Tokyo

The next generation of Nike's sneaker-focused boutique concept has opened in Tokyo.
Amazon exploring new ways for food delivery — no refrigeration needed

Amazon is looking at food-prep technology first developed for the U.S. military that would allow the online giant to deliver meals that do not require any refrigeration. The technology, known as microwave assisted thermal sterilization, or MATS, was developed by researchers at Washington State University, CNBC reported, and is being brought to market by a Denver-based startup called 915 Labs.
Costco appoints new chairman

Costco Wholesale Club has tapped its longtime director as its new chairman. The company announced the election of Hamilton “Tony” James to the position of chairman. He replaces Jeff Brotman, who co-founded Costco with James Sinegal in 1982. Brotman passed away unexpectedly on Aug. 2.
Amazon making inroads in home and kitchen categories

Amazon is making great strides in the home and kitchen space with its Amazon Home store, which curates home and kitchen wares, furniture and appliances. Housewares account for 15% of Amazon's growth in 2016, according to a report from One Click Retail. During the first two quarters of 2017, the growth of the home & kitchen product group has continued on an upward trajectory.
Commentary: Real chance of a turnaround at Macy's, but...

After a torrid opening quarter, Macy's second quarter numbers come as a relief. Certainly, a same-store sales decline of 2.8% is far from good, but it is one of the better performances Macy's has turned in over recent periods. Of course, the question is whether this gentler decline represents a genuine turning point for Macy's, or whether it is simply a bottoming out after years of sharp deterioration.
Macy's makes progress in Q2

Macy's appears to be making some headway in its turnaround efforts, reporting second quarter sales and profit that topped estimates. But the retailer still reaffirmed its downbeat guidance for the year. Net income increased to $116.0 million, or 38 cents per share, up from $11.0 million, or 3 cents per share, in the year-ago period. Adjusted earnings per share was 48 cents.
Kohl's looking better in Q2

Increased traffic gave a boost to Kohl's, which reported sales and earnings that topped analysts’ estimates in the second quarter. The company's net income rose to $208 million, or $1.24 per share, in the quarter ended July 29, from $140 million, or 77 cents per share, in the year-ago period.