News

Meijer investing in new stores, remodels
Privately-owned, family-operated Meijer announced plans to invest more than $375 million in new and remodeled stores in 2017 across its six-state footprint. The investment includes the construction of seven new Meijer supercenters and 22 remodel projects. While Michigan, Indiana, and Wisconsin will each welcome new Meijer supercenters later this year, dozens of other Meijer stores have begun or will soon begin remodel projects to enhance the customer shopping experience.
Another tough quarter for teen apparel retailer
Abercrombie’s efforts to revive its namesake brand still have a ways to go judging by its fourth quarter performance. But Hollister is on the upswing. Abercrombie & Fitch Co.’s total revenue in the quarter, ended Jan. 28, fell 7% to $1.04 billion, slightly below expectations.

Consumer electronics/appliance retailer to close stores

Hhgregg is cutting lose its weakest locations. The struggling chain said it plans to close three distribution facilities and 88 stores as part its effort to improve liquidity and return to profitability. The closings, expected to be completed by mid-April, will leave the retailer with 132 stores. The announcement comes just days after the New York Stock Exchange delisted Hhgregg for failing to meet the minimum listing requirement, and amid rumors the chain plans to file for bankruptcy protection.
Amazon in big solar initiative

Amazon is making a big commitment to renewable energy. The online giant announced plans to install solar panels on its fulfillment facilities around the world, including the deployment of large-scale solar systems on rooftops of more than 15 U.S. fulfillment and sortation centers this year. Amazon plans to deploy solar systems on 50 fulfillment and sortation centers globally by 2020.
Burlington Stores runs strong in Q4; sees plenty of room for expansion

Shoppers just can’t get enough of off-price stores. On the heels of strong results by TJX Cos. and Ross Stores, Burlington Stores on Thursday turned in a stellar fourth quarter performance. And it also revealed plans to expand its store base. Burlington’s net income in the quarter, ended January 28, surged 27.1% to $125.6 million, or $1.77 per share. Earnings, adjusted for one-time gains and costs, were $1.78 per share. The results easily topped Wall Street expectations.
Specialty retailer’s mobile campaign strategy delivers

While many retailers struggle to find the best mobile marketing formula, Urban Outfitters is bucking the trend — big time. Through a partnership with Appboy and PlaceIQ, the specialty retailer is using consumer behavior, location data and insights to more smartly deliver consumer messages within its brand-owned app. Armed with this data, Urban Outfitters has boosted customer conversions by 75% and increased related revenue by 146%, the chain said.
Grocery giant streamlines buying processes

Albertsons Companies is taking steps to help its buyers add new products to store shelves. By adopting an online platform from RangeMe, buyers will gain an efficient way to discover innovative new products and manage the inbound product submission process. The solution supports buyers’ and suppliers’ efforts in finding relevant and trending products for customers, who then benefit from a broader selection of items to choose from in the aisle, the chain said.
Target shares details of $7 billion capital investment plan

Target Corp. has a lot on its plate for the next three years. Among other initiatives the retailer will open 30 small format stores in 2017, doubling its presence in urban markets and on college campuses. By 2019, Target will operate more than 130 smaller stores.
How Amazon Web Services outage impacted retailers

A good number of retailers were impacted when Amazon Web Services — the company’s most profitable division — experienced a four-hour outage on Tuesday. The outage caused major headaches for millions of AWS customers, according to web monitoring and optimization firm Apica, which monitored the top 100 Internet retailer sites during the outage.
Supermarket retailer turns in solid quarter

Publix Supermarkets’ sales and profit rose in the fourth quarter amid continued expansion. Publix’s net earnings for the fourth quarter rose 4.5% to $544.5 million, from $521.1 million in the year-ago period. Sales rose 11.1% to $9.1 billion. (The additional week in the fourth quarter of 2016 increased sales by 7.4%.) Same-store sales increased 2.2%.
Consumer confidence reaches 15-year high in February

The Conference Board announced a new high for consumer confidence in February, which reached its highest level since July 2001. The index now stands at 114.8, up from 111.6 in January.
Upscale fashion retailer files for bankruptcy

The competitive apparel market and a touch retail climate overall has claimed another victim. BCBG Max Azria Group LLC on Wednesday announced that it taken “the next step in the restructuring of its brands and operations” by filing for Chapter 11 of bankruptcy protection. Earlier this month, the company revealed plans to close 120 stores as part of its restructuring efforts.