News

Houston-based developer Levcor Inc. has asked a North Carolina town to rezone an 11-acre parcel to accommodate a shopping center of up to 100,000 sq. ft.   The site resides just south of CBL’s Hanes Mall and a power strip consisting of Home Depot, Lowe’s, Costco, and Sam’s Club in Winston-Salem. Levcor is asking that the property, assembled from multiple lots, be rezoned from residential, single family use to general business special use.  

Charitable giving exceeded $971 million, partially fueled by the convenience of mobile commerce.    That’s according to data aggregated in PayPal’s interactive tracker, the company’s online “giving” platform. In addition to contributions made during the holidays, PayPal reported it processed $7.3 billion in contributions in 2016 — an 11% increase in charitable giving for the year.  

With so many new beauty products hitting the marketplace, Sephora needs to ensure it is offering the right product mix to its loyal shoppers.   Sephora offers 14,000 products from 200 carefully curated brands. Yet, new cosmetic innovations continue to be introduced on a seemingly daily basis. By adopting a new online platform, Sephora can streamline product discovery and its buying efforts.  

Wal-Mart Stores has appointed John Furner to succeed Rosalind Brewer, who is retiring as chief executive of Sams’ Club next month. Furner will assume the role of executive VP, president and CEO of the warehouse club chain on Feb. 1.  

Nordstrom has added the title of chief innovation officer to its executive team.   The department store retailer named company veteran Geevy Thomas to the new position. Thomas, who most recently served as president of Nordstrom Rack, brings 34 years of experience in all areas of Nordstrom to this role, beginning as a salesperson and then moving into store, regional and buying management roles.   

Apparel retailers might be in for tough going if proposed tax reforms pass.  

BJ’s Wholesale Club is knee-deep in a company-wide initiative to add processes that allow it to operate more efficiently.   It has taken a major step by partnering with Glory Global Solutions to roll out cash automation solutions across its 200-plus-club chain. As cash still accounts for around 30% of consumer transactions in the U.S., it remains extremely important to retailer margins. However, the process of moving money is complex.   

Amazon is bolstering end-user cyber-security.   The online giant’s cloud services group quietly acquired cyber security firm harvest.ai, a San Diego-based startup that uses machine learning and artificial intelligence to analyze online user behavior, according to TechCrunch.  

O’Connor Capital Partners has acquired The Shops at Stonefield in Charlottesville, Virginia, from Edens for $121 million.   The 231,761-sq.-ft. Town Center portion of the property, which is two miles from the campus of the University of Virginia, opened in 2013. A 33,422-sq.-ft. Northside portion was completed in 2016. Key Tenants include Trader Joe’s, Regal Cinema, Pottery Barn, Brooks Brothers, and Bluemercury.  

As the new year gets underway, it’s time to look forward to the changes and trends 2017 will bring. For retailers, that includes some new consumer behaviors in addition to the always-expected technological advances.   While change might seem overwhelming, it can also provide fresh opportunities for sales. And with a little planning, retailers can stay ahead of competition to meet the demands of their customers.    To help guide you into the new year, here are a few of our 2017 retail predictions.