News

It may only be the first week of November, but American shoppers are steadily crossing items off of their holiday shopping lists.   As of the end of September, one-third (33%) of consumers had already started their holiday shopping, up significantly from 25% in 2015. Further, they expect to spend an average of $908, an 8% increase from last year ($839 in 2015). Among affluent consumers, this threshold increases to an average of $1,513.  

Walmart is expanding its mobile payment options.   Walmart will accept Chase Pay on Walmart.com, through the Walmart mobile app, and in its stores through the app’s Walmart Pay feature. The digital payment solution allows shoppers to make secure digital payments in-store and online while earning rewards and receiving offers. Chase Pay also protects the customer through token technology, which utilizes one-time complex codes to process transactions and keep credit and debit card information secure.  

That was fast.   Anne Dament, senior VP of grocery merchandising for Target Corp., is leaving the chain, after less than 18 months on the job. Her last day will be Nov. 18.   Damen’s exit will mark the third high-level executive departure at Target in less than three months. In August, the chain’s chief marketing officer, Jeff Jones, resigned to join Uber. And in September, chief digital officer Jason Goldberger left.    

Holiday spending is expected to spike by a solid 4%.   That’s according to the “2016 Holiday Season Forecast,” an annual report from investment firm JLL that is based on responses from 2,800 shoppers across 31 shopping centers.  

The CFO of Gap Inc. is leaving the company after serving in the role for nearly a decade.   The retailer announced that executive VP and CFO Sabrina Simmons is leaving. She will remain through the end of the company’s 2016 fiscal year, "ensuring a seamless transition over the coming months."  

Black Friday may be considered one of the biggest shopping events of the year, but interest among consumers continues to dwindle.   Specifically, 31% of respondents in the United States said they have always disliked shopping on Black Friday, and 29% believe it is simply a marketing trick with retailers manipulating pricing to convince consumers they are getting a good deal.   

Architectural firm P+R Architects (Perkowitz + Ruth Architects), based in Long Beach, California, has changed its name to Retail Design Collaborative.   

Under Armour has brought its “brand house” interactive store format to Boston, opening a location at the Prudential Center.   With nearly 19,000-sq.-ft. of retail space across two floors, the store delivers an immersive, engaging brand experience enhanced by state-of-the-art digital displays designed to both inform and inspire.   

Party City has nabbed a 22-year retail veteran to head up its retail operations.   Party City Holdco Inc. announced that Ryan Vero has joined the company as executive VP of PCHI and president of Party City retail group. Vero, who will have full responsibility for all of Party City’s North American retail operations, including some 900 brick-and-mortar stores and e-commerce, recently served as president, grocery and drugstore at Sears Holdings.     

Finish Line Inc. is searching for a buyer for its JackRabbit chain of running-shoe stores, Bloomberg reported.