News

Urban influx, urban infill, and urban migration
Across the United States, cities have been experiencing a development resurgence. Legions of Americans are departing suburbia and returning to urban environments, with millennials leading the migration. Young adults are abandoning the suburban subdivisions they grew up in for denser, more vibrant urban settings. Consequently, once-empty lots, city blocks, and otherwise underutilized properties are being replaced with multi-use buildings that can accommodate new residences, office space, and retail.
Finish Line goes off course in Q3
Finish Line missed analyst estimates for third quarter earnings, an issue the company blames on declines in its apparel and accessories categories. The athletic specialty retailer reported revenue of $371.1 million for the 13 weeks ended Nov. 26, 2016. While this is an increase of 3.0% over the prior year period, it falls short of the consensus estimate of $411.61 million.

Retailers and their customers benefit from a robust enterprise network

Holiday shopping is no longer what it used to be. The rise of online shopping and mobile has transformed the way in which consumers purchase gifts. It is no longer black and white for retailers either, as cutting-edge platform and technology adoption is a pre-requisite in order to remain competitive. And all factors are causing new challenges related to managing and supporting back-office and customer-facing systems, as well as meeting evolving customer expectations.
Luxury brands grab online holiday shoppers through digital disruptors

Upscale brands are grabbing the attention of holiday procrastinators. Three in 10 shoppers are still scrambling to finish holiday shopping, according to the National Retail Federation, and many are jumping online in search of their perfect, albeit “last minute” holiday gifts.
comScore: Online desktop sales climb one week before Christmas

With only days to go in the 2016 holiday shopping season, online desktop spending continues to rise. For the holiday season-to-date, $55.2 billion has been spent online, marking a 13% increase versus the corresponding days last year. The most recent week, Dec. 12-18, posted a strong 15% growth in online sales, marking $7.6 billion in desktop spending during the last full week before Christmas.
American Apparel gets nod to shutter nine stores

American Apparel’s financial saga is winding down.
Survey: Online spend per gift rises; outerwear most popular gift

Consumers are spending more money per gift online this holiday season than last — 49% more to be exact. That’s according to e-gifting platform and service Look Commerce, which announced insights into consumer gifting behavior and top gifts purchased between Dec. 10 and Dec. 16, 2016.
Two more Amazon DCs on the way

Amazon is continuing to build out its already expansive fulfillment network. The online giant plans to open two new facilities in Aurora, Ill, generating more than 1,000 additional full-time jobs with benefits to the state. Amazon currently operates warehouses in Edwardsville, Joliet and three facilities in Romeoville. Another depot is currently under construction in Monee.
Study: Luxury brands excel in holiday shipping

Luxury brands seems to be going the extra mile this holiday season. This is according to “2016 Holiday Shipping,” a report from Kurt Salmon, part of Accenture Strategy, that analyzed orders with 84 retailers across a broad range of categories on Black Friday and Cyber Monday 2016. The study analyzed online orders that were shipped to consumers, as well as those collected in-store, to measure shipping speed, accuracy and cost.
More retailers eliminate on-call scheduling

Aeropostale, Disney Store, Pacific Sun, and Zumiez joined the growing list of retailers that have stopped using the controversial practice of on-call scheduling for store employees.
Michigan town seeks developer for $350 million mixed-use project

Officials from the city of Troy, Michigan, made the rounds of the New York Deal Making show looking for a partner to help them erect a proposed $350 million town center.
Destination Maternity to be acquired by French company

French children’s clothing company Orchestra-Premaman SA has won its battle to acquire to acquire Destination Maternity Corp. The deal calls for Orchestra to acquire Destination Maternity for about $7.05 a share, valuing the U.S. retailer at about $100 million according to its share count.