News

Joss & Main and cable series team up, just in time for summer
A home furnishings retailer is making it easier for their shoppers to make their homes “summer-ready.” Through its partnership with the HGTV series, “Beachfront Bargain Hunt: Renovation,” Joss & Main is enabling viewers to purchase the budget-friendly, stylish looks presented on the show directly through their e-commerce site. The retailer will feature merchandise throughout the show’s six-week season, starting on June 10.
Mickey Drexler out as CEO of J.Crew Group
It is the end of an era in retail. One of the most prominent — and legendary — chief executives in retail is stepping down. Millard “Mickey” Drexler will step down after almost 15 years as J. Crew’s CEO as of July. He will continue in his role as chairman. Drexler is the former CEO of Gap Inc., which he built into a retail powerhouse. He was abruptly fired in 2002 by Gap founder Donald Fisher amid slumping sales and the chain's falling stock. (Prior to Gap, Drexler oversaw a turnaround of Ann Taylor.)

Walmart leverages ‘employees’ for last-mile delivery initiative
Casual clothing and workwear retailer on the hunt for a new CFO

Duluth Holdings is losing its finance chief. Mark DeOrio, the company’s CFO, will retire at the end of 2017. DeOrio will remain in his role until the next finance chief is appointed, and he will then assist with his successor’s transition until his retirement. DeOrio has held the role since August 2010. He also served as senior VP of operations from 2010 to January 2015.
Amazon expands distribution fleet in California

Amazon is bolstering fulfillment efforts in the Golden State. The online giant will open an 855,000-sq.-ft. fulfillment center in Fresno, California. The new facility will specialize in handling smaller-sized items such as books, electronic devices and children’s toys. The Fresno facility will be the fifth warehouse in the state’s Central Valley. Amazon currently operates three fulfillment centers in Tracy and Patterson, and a fourth facility under construction in Sacramento.
Online retailer prepares for Mall of America debut

An online clothing brand best known for its signature shirts that are designed to be worn untucked is going to open at Mall of America, in Bloomington, Minnesota. Untuckit will open a 1,300-sq.-ft. outpost at the giant mall this fall. It will be the company's first store in Minnesota, and carry shirts for both men and women.
Office supplies giant sells operations in China

Office Depot is selling off another international unit. The office supplies giant announced it will sell its stores in China to Shanghai M&G Colipu Office Supplies Co., Ltd. The public, China-based public company manufactures and sells writing instruments, as well as stationery products for offices and students.
Macy’s shakes up digital team

Macy’s named two key leaders in a move to bolster the company’s digital initiatives. The department store chain named Yasir Anwar as its executive VP and CTO, effective immediately. In this new role, Anwar will oversee all technology functions for Macy’s, including expanding the company’s technological capabilities and further driving mobile and digital growth.
Boot Barn sales rise in fiscal Q4, still misses Street

Even with a jump in sales, unanticipated operating expenses and e-commerce snafus took a toll on Boot Barn’s fourth quarter for fiscal 2017.
7-Eleven opening futuristic store in South Korea

Convenience-store giant 7-Eleven is opening a store that allows customers to pay simply with a wave of their hand.
Five Below hits it out of the park in Q1

Teens’ demand for slime to fidget spinners helped boost Five Below’s first quarter sales, comps and earnings well above expectations. For the first quarter ended April 29, the teen value retailer reported a net income of $8.4 million compared to $6.8 million in the first quarter of fiscal 2016. Meanwhile, the chain’s sales increased almost 21% to $232.9 million, from $192.7 million in the first quarter of fiscal 2016.
Unemployment drops to lowest level post-recession

The unemployment rate has hit a new, but welcomed milestone. The U.S. unemployment rate is now 4.3%. This is the lowest it's been since 2001. However, job gains missed the mark by a wide margin. The economy only added 138,000 jobs last month, missing the 185,000 mark expected by analysts. Job gains have occurred with an average monthly gain of 181,000 over the past 12 months.