News

Coffee giant to open massive location in Chicago
Starbucks Coffee Company is going big in the Windy City — in a space that is currently to home to one of the city’s iconic retail flagships. The coffee retailer will open a four-level, 43,000-sq.-ft. Starbucks Reserve Roastery on Michigan Avenue in Chicago in 2019, in the building currently occupied by Crate & Barrel. The home goods chain, which has operated a store on the site for 27 years, is expected to close its door in early 2018.
Walmart reduces prices on money transfers
Walmart is making its cheaper and faster for its customers to send money. The retailer is adding new “rollback” fees to its Walmart2Walmart money transfer program. The new fees, beginning Wednesday, April 24, save customers between 20% and 90% on cash transfers versus the leading competitor, according to Walmart. For example, shoppers sending $250 will pay $8 through the new program, compared to fees that could range between $12.50 and $24 on Western Union, the retailer reported.

Costco to give rare payout

In an action that reflects its strong performance, Costco Wholesale Corp. is about to return some $3.1 billion to investors. The retailer announced a special cash dividend on Costco common stock of $7.00 per share, payable May 26, 2017, to shareholders. The dividend is in addition to a 5 cent increase of the company’s quarterly cash dividend to 50 cents a share.
Office supplies giant sells another international unit

Office Depot continues to make good on its promise to focus on its North American business. The retailer said it has closed on the sale of its business in South Korea to Excelsior Capital Asia, a Hong Kong- and Korea-based direct investment firm. Excelsior invests throughout Asia on behalf of major Korean institutions, pension funds and private family offices.
Fresh Market to anchor South Carolina Center

Fresh Market will open its second location in South Carolina’s capital region in the growing upscale suburb of Lexington.
Fashion retailer moves data out of the ‘lake’ and into the cloud

Harnessing customer-specific data is paramount for RueLaLa to engage shoppers and foster long-term customer relationships.
Big center going up near Disney World

Williams Company Southeast has announced plans to break ground on what it claims will be the biggest to be built in Central Florida for years. Vineland Point, a 447,500-sq.-ft. project developed by O’Connor Capital Partners on I-4 and Daryl Carter Parkway in Orlando exceeds the size of The Crosslands, another O’Connor project constructed by Williams that opened in Kissimmee in 2015.
Albertsons makes exec appointment

Albertsons Cos. on Monday appointed the president of its Jewel-Osco division, Mike Withers as executive VP, retail operations, Albertsons. Withers will lead the company's East Region operations, while current executive VP, retail operations Susan Morris will lead the West Region. Jim Perkins, executive VP, retail operations Special Projects, is focused on targeted initiatives to accelerate growth. All three executives will continue to report to Wayne Denningham, president and COO, ALbertsons.
Consumer confidence slips in April

April's consumer confidence metric didn't live up to the new benchmark established in March, when consumer confidence reached a 16-year high. This month, the Index declined to 120.3 from 124.9 in March.
Parent of Ugg brand considers sale

Deckers Brands announced on Tuesday is it reviewing strategic alternatives, including a possible sale. The decision comes as the company said it has made “significant progress” in streamlining its cost structure, optimizing its retail store fleet, and realigning its brands to improve profitability. Deckers portfolio includes the popular footwear brands Ugg and Teva.
Gander Mountain to get reprieve?

Bankrupt sporting goods retailer Gander Mountain may live to see another day. Sportsman’s Warehouse Holdings Inc. is planning to bid for as many as 80% of Gander Mountain’s stores, Bloomberg reported. Gander Mountain filed for bankruptcy on March 10.
J. Crew cutting jobs as part of restructuring

J.Crew Group is in a reorganization mode as it look to better position itself for growth. The apparel retailer announced several strategic changes across its organization, including reducing headcount. Approximately 150 full-time and 100 open positions are being cut, mostly from corporate headquarters.