News

Stephen Tucker has been appointed as FTD Companies’ new executive VP.   Tucker will also serve as CFO, replacing Becky Sheehan, who is leaving the company to pursue other opportunities. He will take on the new role as of Jan. 1, 2017.   

A mixed bag of activity for the second week of December indicates that weekends — and perfectly timed promotions — will make or break the remainder of holiday e-commerce sales.  

Walmart is leveraging its mighty store network to gain a competitive advantage over Amazon for last-minute holiday shoppers.    The discount retailer announced Tuesday it will offer shoppers a Christmas Eve store pickup commitment for eligible orders placed online by 6 p.m. local time on Dec. 23.   

Neiman Marcus Group doubled its loss in its first quarter amid sliding sales.   The luxury department store retailer posted a net loss of $23.5 million in its first quarter, ended Oct. 29, compared to a loss of $10.5 million in the year-ago period.    Sales fell 7.4% to $1.08 billion, from $1.16 billion last year.   Same-store sales fell 8%. It was the fifth straight quarter of decline.  

Altar'd State, a fast-growing women's fashion brand with more than 70 stores, has added to its senior leadership team with two retail veterans.   John Buell has joined Altar'd State as senior VP, CFO. Buell is a 13-year Limited Stores veteran, having most recently served as Interim CEO. Prior to joining Limited, Buell spent 15 years at Sears, Roebuck, and Co.   

The countdown is on.    With 12 shopping days left before Christmas, holiday shoppers mean business. They have their shopping lists in hand, devices are charged, and they want their desired merchandise in their hands — fast. And with Adobe reporting that 5% of customers drive 35% of revenue, retailers would be foolish not to deliver.   

Costco Wholesale’s new co-branded Visa payment card is definitely resonating with shoppers.   Since launching its co-branded Citi Visa Anywhere credit card in June, the club retailer reports that 1 million members signed up for the payment card.    “Most of them have it in hand,” Costco’s CFO Richard Galanti said during the company’s earnings call on Dec. 7. “In terms of conversion, usage and new sign up for the card, all [is] good so far.”  

Amazon fired the first shots of a long-needed retail industry revolution recently with its announcement of Amazon Go. While most major retailers have been working on solutions to many of the point-of-sale issues that a checkout-less store solves; Amazon is simply going to eliminate these issue entirely — at least in its own stores.   

It would appear that news accounts of Amazon’s plans to opens thousands of grocery stores are greatly overblown — at least for the time being.     Amazon’s brick-and-mortar fledgling initiatives have been in the spotlight in recent weeks with the opening of its checkout-less convenience store, Amazon Go, in Seattle. Last week, some reports had the e-commerce giant planning to open 2,000 grocery stores.     

The food safety crisis that took the wind out of the sails of formerly high-flying Chipotle Mexican Grill has finally taken a toll on the chain’s executive suite.   The chain announced that Monty Moran has stepped down as co-CEO and from his board seat, effective immediately. Chipotle founder Steve Ells, currently co-CEO, will be the sole chief executive. He will also remain chairman.