News

FirstData: Strong holiday — but some retailers left in the cold
Despite disappointing results from some retailers, overall holiday sales are shaping up to be in line with industry projections.
Discounter has better-than-expected holiday sales
Ollie's Bargain Outlet Holdings raised its full-year outlook after shoppers flocked to its stores in search of its signature “good stuff cheap” during the holiday season. For the nine-week period ended December 31, 2016, Ollie’s total sales increased 16.3%, with a same-store sales increase of 1.9%. The discounter said it now expects full-year net sales to total about $888 million, ahead of the FactSet consensus of $874 million. It expects same-store sales growth of about 3% and per-share earnings of about 93 cents.

Party City acquires 18 locations

Party City Holdco Inc. continues to acquire its franchised locations. The company has entered into an agreement to acquire a master franchise group representing 18 franchise stores in Louisiana, Alabama, Mississippi and Florida, and with estimated 2016 sales of approximately $34 million. The purchase price is estimated to be $14.5 million to $15.0 million.
Hughes buys Macy’s; will convert mall to open-air center

The Howard Hughes Corporation announced it has purchased the 11.4-acre Macy’s store and parking lot at its Landmark Mall in Alexandria, Virginia, and will set about transforming the enclosed property into an open-air center.
WH Smith in POS investment

A go-to brand for shoppers on-the-go, WH Smith Travel is improving the in-store experience. The chain will add the Aptos Store point-of-sale solution at WH Smith’s Travel locations. The platform, which features modernized, flexible POS technology, is designed to maximize associate productivity and improve the customer experience across the chain’s more than 900 locations in Europe.
Neiman Marcus scraps IPO

Neiman Marcus Group is not going public anytime soon. In a filing on Friday, the luxury department store retailer said it would withdraw its initial public offering, having determined "that it is not in its best interests" to proceed with the initial public offering at the current time.
Holiday 2016: Shoppers more generous — and more last minute

Online spending, and the amount of purchases made after the standard shipping deadline, were on the rise this holiday season.
Build-A-Bear CEO Goes ‘Undercover’

Going undercover isn’t easy. But it can definitely be worth the effort. Just ask Sharon Price John, president and CEO of Build-A-Bear Workshop.
The newest shopping channel: automobiles?

The annual consumer electronics trade show (CES) is considered a launch pad for new innovations and technology. One concept garnering attention at this year’s show: in-vehicle digital shopping. Honda and Visa presented the first proof-of-concept demonstration of in-vehicle payments at this year’s show, held in Las Vegas, Jan. 5-8.
Grocer bullish on expansion in 2017

Sprouts Family Market is expanding its footprint. The Phoenix-based grocer plans to open 35 stores in 2017, with 11 of the locations opening in the second quarter of the year. The 11 stores opening in the second quarter include three in California, two in Georgia, two in Florida locations, two in Texas locations and two in Colorado, the Phoenix Business Journal reported.
Amazon opening more bookstores

New Yorkers will have a new way to browse Amazon’s best-selling book titles — in a physical store. Later this year, the retail giant will open a bookstore at the Time Warner Center in Manhattan. Also on the slate for 2017 is a location in Chicago, and the Boston suburb of Dedham, Mass. Stores are also planned for Lynnfield, Mass., and Paramus, N.J.
A less-than-merry holiday for department store retailers — including Penney

Poor holiday sales results from Macy’s, Sears, and Kohl’s do not bode well for the already embattled department store sector. And now J.C. Penney has reported its own disappointing results.