News

Consumer confidence slips in May
Wary about business conditions and jobs, consumer confidence dipped a bit further in May. But consumer still remain optimistic on the whole about the economy. The Conference Board said Tuesday that its Consumer Confidence Index fell to 117.9 in May, from a revised 119.4 in April. The index hit 124.9 in March, its highest mark in 16 years.
Kitchenware retailer cooks up delivery service
A new partnership is helping Sur La Table take the term “farm to table” to a new level. Sur La Table is the go-to source for all things culinary — from cooking tools and kitchen gadgets to tableware. All it was missing was a way to be at their shoppers’ beck and call — and at a moment’s notice — as they prepared a stellar meal.

South African merchant improves in-store omnichannel fulfillment

Woolworths is taking steps to bolster its online shopping experience. Woolworths South Africa, a division of Woolworths Proprietary Limited, is known for its vast assortment ranging from groceries, fresh produce and prepared food to clothing, beauty products, home goods and general merchandise. As the company entered into the world of omnichannel, it knew it had to deliver easy access to its merchandise, and provide a painless experience for online customers.
Children's apparel retailer taps former Sears exec as CEO

Hanna Andersson named a former top executive of Sears Holdings Corp. as the specialty retailer's next chief executive.
Coach launches offer to acquire

Coach has made it official. The upscale handbag and accessories retailer launched a formal tender offer to acquire Kate Spade & Company for $18.50 per share in cash. Coach announced its plans to acquire the brand at the beginning of May, in a deal that has a total value of $2.4 billion.
Big Lots has big quarter

Big Lots provided an upbeat outlook and posted a strong first quarter, beating profit expectations. The chain reported income of $51.5 million, or $1.15 per diluted share, for the quarter ended April 29, 2017, which easily beat Wall Street expectations. This compares to $38.7 million, or 79 cents a share, in the year-ago period.
Blowout quarter for Costco

Costco Wholesale Corp. came roaring back in its third quarter as it topped analysts' earnings and sales expectations amid strong U.S. sales.
Amazon’s grocery pickup concept finally opens — for Prime members only

Amazon’s latest grocery initiative is now up and running for customers. AmazonFresh Pickup, the online grocer’s drive-by grocery delivery service, allows Amazon Prime members to order groceries online and pick them up in as little as 15 minutes. The concept launched in March, with two locations in Seattle. Initially in a beta mode, the service was available only to Amazon employees. But as of May 25, it is now open also to Amazon prime members in the general public.
Starbucks looks to boost minority businesses, train youth in two new locations

Starbucks is keeping good on its latest national initiative. The coffee giant said it will open a store in Dallas, in spring 2018, and Trenton, New Jersey, later this year, as part of its program to invest in at least 15 underserved communities across the U.S. by 2018. To date, Starbucks has opened six similar stores, including in Ferguson, Missouri, central Phoenix, and East Baltimore.
Office supplies giant still weighing takeover offer

Staples Inc. has rejected a buyout offer. The company turned down a takeover offer from Cerberus Capital Management, saying it was too low, Bloomberg reported. However, another private equity firm, Sycamore Partners, is still in the running to acquire Staples. The bid from Cerberus valued the retailer at more than its current market value of about $5.8 billion, according to Bloomberg.
Fast-casual chain reveals culprit of recent data breach

Chipotle Mexican Grill is coming clean about a cyber-attack that targeted the chain last month. An extensive investigation lead by leading cyber security firms, law enforcement and the payment card networks revealed that malware accessed payment card data used at point-of-sale (POS) devices at certain Chipotle and Pizzeria Locale restaurants between March 24 and April 18. Not all locations were involved, and the specific timeframes vary by location, according to the chain.
Sears Q1 sales fall 20% but posts first quarterly profit in two years amid cuts

There was a glimmer of good news in Sears Holdings Corp.'s first quarter earnings report.