News

Aldi makes leadership claim on low prices
Watch out Walmart — discount grocer Aldi is beating you in one crucial area. Aldi’s prices are 21% lower than its lowest-priced rivals, including Walmart, CEO Jason Hart told Reuters. And he plans to maintain that gap going forward. The fast-growing Aldi, which recently entered California, operates some 1,600 stores in the United States, with 400 new locations planned by the end of 2018.
Nordstrom mixed in Q1
Nordstrom beat the Street on earnings in its first quarter amid strong sales in its off-price division. Nordstrom said it earned $63 million in the first quarter, compared with $46 million, in the year-ago period. The company earned an adjusted $0.43 a share, beating the $0.27 that analysts were expecting. Total company net sales increased 2.7% to $3.3 billion. Same-store sales fell 0.8%, worse than expected. Online sales accounted for 24% of total net sales.

Target debuts 360° shopping

Target Corp. is taking a cue from Hollywood to help shoppers create the living room of their dreams. The discounter is using the same type of computer generated imagery that figures in movie blockbusters to create a 360-degree, virtual reality-like experience on its website. And it’s shoppable.
Amazon Disrupts Again: Here’s what you need to know

Ever since the announcement of Amazon Go and its promised checkout-free shopping experience, retailers have been left wondering, “what does Amazon Go mean for the rest of retail?”
Nutritional retailer posts disappointing quarter

Vitamin Shoppe missed profit expectations for its first quarter, amid challenges with its Nutri-Force contact manufacturing division. Vitamin Shoppe posted net income of $8.0 million for the quarter ended April 1, compared to $14.8 million in the same period last year. Reported fully diluted earnings per share were $0.35 in first quarter 2017, compared to $0.59 in first quarter 2016.
Rent-A-Center veteran exec returns

The nation's largest rent-to-own operator has a new chief operating officer. Rent-A-Center appointed Joel M. Mussat as executive VP, COO, effective May 5, 2017. He brings more than 20 years of experience in operations, retail strategy and the rent-to-own industry.
Online giant tops in ‘brand intimacy’

Amazon leads the way in the retail industry when it comes to creating an emotional bond with customers, but the industry as a whole lags behind two other categories. That’s according to MBLM’s Brand Intimacy 2017 Report, in which Amazon placed first in the retail category. followed by Whole Foods Market and Target Corp. The remaining brands in the top 10 for the retail industry are: H&M, Macy’s, Nordstrom, Sephora, Ikea, The Home Depot and eBay.
Jet.com ventures into physical retail
Amazon to build homeless facility — at its new headquarters
Sears CEO: ‘The reality is a lot better than the perception’

The chairman and CEO of Sears Holdings said the use of the word bankruptcy with regards to his company is holding it back. “Every time people use the word bankruptcy, somebody who reads that doesn't get past that word, Edward Lampert told The Chicago Tribune in a rare interview. “It makes it very unfair for us, and it’s a very uneven playing field for us.”
Better Energy Savings

Retailers looking for dramatic energy savings at the lowest cost should think radical – and that means using an integrated design process right from the start.
“Radically efficient buildings are, among other things, 75% more energy efficient than typical construction” said Paul Westbrook, president of RE:source consulting, at the SPECS session, “An Improved Road to Energy Savings.”
What Happened to Manhattan’s Supermarkets?

Broker Faith Hope Consolo, who’s placed countless retail businesses in some of Manhattan’s best neighborhoods, has lately turned her attention to Harlem. She’s happy to note that restaurants and national retail brands are blossoming uptown, but that – outside of a Whole Foods opening on 125th Street – full-size supermarkets are nonexistent since the Pathmark closed there last year. And it’s not just a Harlem phenomenon.