News

Analysis: Dick’s Sporting Goods Shake-Up
On March 7, Edward Stack, CEO and chairman of Dick’s Sporting Goods, announced the company is dropping 20% of its brand offerings. This news is part of a larger redirection for the sporting goods retailer, one designed to optimize its inventory for increased sales.
FICO: Debit card compromises skyrocketed in 2016
Payment card theft continue to wreak havoc on retailers and shoppers, alike. In fact, the number of debit cards compromised at United States-based ATMs and merchants rose 70% in 2016, while the number of hacked card readers at U.S. ATMs, restaurants and merchants rose 30% — the highest level in the history of the FICO Card Alert Service, which monitors hundreds of thousands of ATMs and other readers in the U.S.

Survey: Unclean restrooms can have negative impact on business

Retailers looking for a competitive advantage in these competitive times should consider their restrooms.
Extreme value retailer continues to expand

Ollie’s Bargain Outlet Holdings Inc. is on track for store growth in 2017. The retailer, which beat the Street in the fourth quarter, ended the year with a total of 234 stores in 19 states, an increase of 15.3% year over year. It expects to open 33 to 35 stores in 2017, with no planned closures. Ollie’s reported fiscal fourth-quarter net income increased 52% to $24.4 million, surpassing Wall Street expectations.
Luxe home furnishings retailer Q4 tops Street

Things are looking up at RH (formerly known as Restoration Hardware) which capped a busy year with better-than-expected results for its fourth quarter. RH reported that revenue fell 9% to $586.7 million in the fourth quarter, beating analysts’ estimates.
Study: Personalization is top digital priority

Personalization is no longer just about marketing to demographic groups, customer segments or even personas. Rather, the concept has evolved into a critical way for retailers to differentiate their brand to compete against companies like Amazon, according to “BRP Special Report: Personalizing the Customer Experience,” a study from Boston Retail Partners.
Amazon prepares to expand distribution network in Virginia

The online giant is about to break ground on another fulfillment center. The new facility, which will be more than 1 million sq. ft., will be located in Clear Brook, Virginia. The fulfillment center will employ more than 1,000 full-time associates who will be responsible for picking, packing and shipping larger customer items, such as big-screen televisions, kayaks and patio furniture.
Consumer confidence bumps up to a 16-year high

Having reached a 15-year peak on February, consumer confidence reached a new peak in March, now standing at its highest level in 16 years. The index's current reading is 125.6, up from 116.1 in February. “Consumer confidence increased sharply in March to its highest level since December 2000 (Index, 128.6),” said Lynn Franco, director of economic indicators at The Conference Board.
Value home décor retailer sees potential for major store expansion

When it comes to expanding its store portfolio, At Home has barely gotten started. Reporting strong results for the fourth quarter and full year, the home décor retailer also said it plans to open 25 new stores this year, with the potential for almost 500 more locations over the long term.
Report: Baby Spice jumps into online retailing game

A former Spice Girl has a new career. Emma Bunton, a.k.a. Baby Spice, is the co-founder of a new environmentally-friendly diaper and skincare online store, according to Retail Gazette.
Amazon debuts grocery pick-up concept
No more tax-free shopping on Amazon

The party is over for shoppers that enjoyed tax-free online shopping — on Amazon, anyway. Starting on April 1, Amazon will collect sales tax from all states that have a tax levy. Only the five states that do not have a state sales tax — Alaska, Delaware, Oregon, Montana and New Hampshire — will remain exempt.