News

Home furnishings chain adds new hotel location
West Elm is expanding its hotel portfolio — even before it opens its first location. The retailer, a division of Williams-Sonoma, announced Portland, Maine as the newest location for its West Elm Hotels collection. Expected to open in 2020, the 150 room, full-service boutique hotel will be developed on Portland’s waterfront by Portland Foreside Development Company LLC, and operated by hotel development and management company DDK, which is West Elm Hotels’ exclusive operator.
One of the world's fastest-growing character brands opens Times Square flagship
An Asian brand whose characters were originally created for use as emoticons on a mobile messenger app has opened its first store in North America. Line Friends, whose characters include whimsical-looking bears, ducks, bunnies and more, has opened a 4,628-sq.-ft. flagship in Manhattan's Times Square as part of the company's global expansion efforts. It currently operates 84 locations in 11 countries around the globe.

Study: Majority of retailers feel 'vulnerable' to a data breach

While the number of cyber-attacks have declined in the last year, a majority of companies still feel susceptible to data threats. This was according to the “2017 Thales Data Threat Report, Retail Edition,” from Thales e-Security and analyst firm 451 Research. The study is based on responses from more than 1100 senior security executives, including in the retail segment, from across the globe.
Visa program streamlines global QR code payment adoption

A new service is helping retailers adhere to newly introduced interoperability standards related to QR code-based payments. In a move to standardize emerging cashless payments, EMVCo, the global technical body that manages the EMV Specifications, released new global QR Code Payment standards — a move that will allow retailers to process mobile payments made through the two-dimensional machine-readable barcodes. Visa and the other EMVCo members worked to develop these new globally interoperable EMV specifications.
Sporting goods giant cuts full-year outlook and jobs amid Q2 loss

After several years of explosive growth, Under Armour is hunkering down amid increased competition and weaker demand. And the brand, best known for its performance edge, is putting a new emphasis on lifestyle.
Mattress start-up doubles down on Amazon relationship for store success

Amazon is extending its brick-and-mortar brand exposure, once again — albeit in an unconventional way. Mattress retailer Tuft & Needle will open its newest store in October, in Seattle. And the self-funded specialty retailer is relying on Amazon’s technology and services to drive its success, according to ReCode.
Publix Q2 sales, earnings rise; cuts stock price

Florida's largest supermarket chain on Tuesday reported higher sales and revenues for its second quarter. Prior to releasing its results, the company cut the price of its stock. Publix’s sales in the second quarter rose 3.6% to $8.4 billion, from last year’s $8.1 billion. Same-store sales increased 1.6%. Net earnings increased 3.5% to $495.1 million, compared to $478.2 million in the year-ago period.
Gen Z big on brick-and-mortar

The most digitally savvy generation to date has a soft side for physical stores. Despite being digital natives, 57% of Generation Z say they prefer to shop in-store rather than online, according to a report from CrowdTwist, a provider of multichannel loyalty and engagement solutions.
GameStop does an about-face on Thanksgiving

It's only July, but GameStop has jumped into the ongoing debate about whether stores should be open on Thanksgiving Day. After keeping its stores closed on Thanksgiving for the past three years, the retailer has told its employees that stores will be open for this year's holiday. The change was first reported by gaming website Kotaku.
Westlake Ace Hardware promotes two execs

Westlake Ace Hardware has announced two executive promotions. The company promoted current COO Joe Jeffries to president and COO, continuing to support CEO Tom Knox. In addition, Andrew Schmitt will be promoted to the position of VP of operations for Westlake Ace Hardware. Schmitt currently holds the position of director of retail operations – Western Division, for Ace Hardware Corporation.
Discounter adds new hiring academy

Walmart is making good on its promise to open 200 learning centers by year’s end. The discounter is planning to open another employee training academy. The new location, which will be in Sioux Falls, South Dakota, is expected to open by end of 2017, according to the Argus Leader, a division of USA Today.
Women's apparel powerhouse creates new executive position

The owner of Ann Taylor, Loft, DressBarn, Lane Bryant and other brands is consolidating its executive leadership structure as part of its efforts to reinvigorate top-line growth.