News

Unusual demographic flocking to J.C. Penney
J.C. Penney is often associated with an older shopper demographic. But its comeback is being fueled, at least partially, by a surprising group. Millennial moms now account for 45% of Penney's revenue, CNBC reported, and the group is also driving much of the growth in the company's sales and customer count.
Kroger misses in Q3 as net income falls
Kroger Co. lowered the higher end of its full-year adjusted profit forecast amid a “difficult” operating environment, marked by falling food prices and increased competition. The nation’s largest grocery store operator reported net earnings of $391 million, or $0.41 per diluted share, and identical supermarket sales growth, without fuel, of 0.1% in the third quarter, which ended on Nov. 5. Net earnings in the same period last year were $428 million, or $0.43 per diluted share.

Nation’s largest mall debuts customized wayfinding technology

Mall of America is debuting new wayfinding kiosks that expand the concept of the typical mall directory. The mall recently installed six interactive wayfinding kiosks, from Express Image, that provide shoppers with customized assistance in as little as 10-20 seconds.
RetailMeNot: Early promotions spur Cyber Week spending

Both Black Friday and Cyber Monday broke sales records this year, and early promotions could be a key contributor to this success. Out of more than 400 major retailers that offered promotions via RetailMeNot, 70% started promoting Black Friday deals before Thanksgiving, the savings destination reported in the “RetailMeNot Promotions Index.” The study, which was conducted between Nov. 24 and Nov. 28, is based on responses from 1,500 Americans aged 18 and over.
Gainesville center sold for $2.8 million

University Towne Center in Gainesville, Florida, has been sold at auction to Pacific West Land for $2.8 million. Crossman & Company negotiated the deal on behalf of the seller, a south Florida special servicer. The 18,496-sq.-ft. center is close to the University of Florida campus and to Butler’s sprawling retail complex, which is itself expanding with a town center called The Neighborhoods at Butler.
Food-stamp cuts contribute to Dollar General’s woes in Q3

Reductions in food-stamp benefits and falling grocery prices took a toll on Dollar General Corp.’s third-quarter performance which came in below expectations and included an unexpected drop in same-store sales. The company reported a profit of $235 million, or $0.84 per diluted share, in the quarter, compared to net income of $253 million, or $0.86 per diluted share, in the year ago period. Its profit included a charge of about 5 cents per share for store relocation costs and disaster-related expenses.
Another apparel retailer sounds cautious note on holiday

Express reported a drop in third-quarter profit and slashed its full-year adjusted earnings outlook, warning that the holiday season will "remain challenging." In recent days, an array of apparel retailers have expressed caution about the holiday selling season, including Gap, Abercrombie & Fitch and American Eagle Outfitters. Express earned $11.6 million, 15 cents per share, for the quarter ended Oct. 29, down from $26.3 million, or 31 cents per share, a year earlier.
Fast-growing convenience store operator implementing salary increase despite judge’s injunction

Sheetz is moving forward as planned to implement the changes outlined in the new overtime rule.
Quick-serve giant joins Energy Star

The Wendy’s Company has extended its commitment to reducing energy. The restaurant chain has joined the Environmental Protection Agency's Energy Star Program and will work to improve energy efficiency through a strategic, corporate energy management program that will enhance the company's energy strategy.
Tech Guest Viewpoint: Is Technology Creating a Better Customer Experience?

This holiday season shoppers will see many new high-tech and digital advancements in stores, from self-service kiosks and free Wi-Fi to mobile pay and retail apps. In the coming years, shoppers may even find robots helping them face-to-face.
Hudson Yards retail component is 60% leased

After Neiman Marcus announced it would open its first New York store at Hudson Yards — the biggest development in that town in recent history — retail leases are being signed at a torrid pace. According to developer Related Urban, The Shops & Restaurants at Hudson Yards are 60% leased more than two years before their scheduled opening in fall 2018.
Furniture retailer to bolster shopping experience with virtual reality

Ashley Furniture is jumping into virtual and augmented reality to help shoppers visualize how furnishings can fit into a space more accurately. The retailer is launching a company-wide virtual reality (VR) and augmented reality (AR) initiative that is designed to enable consumers to create interior layouts and experience living spaces in 3D. Ashley Furniture will create and scale its product catalogue for AR and VR, and publish new 3D product experiences, with a platform from augmented reality and virtual reality provider Marxent.