News

Discounter names new food and beverage VPs
Target is bringing on talent from Walmart and General Mills to accelerate its food and beverage strategy. Mark Kenny will join Target as VP divisional, meat and fresh prepared food where he will oversee the meat, seafood, deli, bakery and prepared food categories. Kenny joins Target from Walmart, where he most recently was the senior director of private brands, deli and bakery.
Target revs up efforts to transform supply chain with acquisition
Target Corp. has acquired a transportation technology company and, in the process, gotten itself a VP of technology. Target Corp. announced it has agreed to acquire Grand Junction to improve and expand Target’s delivery capabilities and accelerate its investments and ongoing efforts to transform its supply chain. Upon the close of the deal, Rob Howard, Grand Junction’s founder and CEO, will become a VP of technology at Target.

Amazon making inroads in home and kitchen categories

Amazon is making great strides in the home and kitchen space with its Amazon Home store, which curates home and kitchen wares, furniture and appliances. Housewares account for 15% of Amazon's growth in 2016, according to a report from One Click Retail. During the first two quarters of 2017, the growth of the home & kitchen product group has continued on an upward trajectory.
Nike Kicks Lounge, Tokyo

The next generation of Nike's sneaker-focused boutique concept has opened in Tokyo.
Analyst: Penney turnaround is a long-term endeavor

Although J.C. Penney's numbers are not a disaster and represent a significant sequential improvement over the prior quarter, they are nevertheless underwhelming. While we maintain the company is moving in the right direction, the lack of progress on profit and same-store sales both highlight that the turnaround program is a long-term endeavor that will take some time to deliver.
Amazon exploring new ways for food delivery — no refrigeration needed

Amazon is looking at food-prep technology first developed for the U.S. military that would allow the online giant to deliver meals that do not require any refrigeration. The technology, known as microwave assisted thermal sterilization, or MATS, was developed by researchers at Washington State University, CNBC reported, and is being brought to market by a Denver-based startup called 915 Labs.
J.C. Penney loss widens on store closing efforts; to boost apparel

Liquidation efforts took a toll on J.C. Penney in its second quarter, which reported earnings and same-store sales below estimates. Penney's net loss widened to $62 million in the quarter ended July 29, or 20 cents per share, from $56 million, or 18 cents per share, in the year-ago period.
Costco appoints new chairman

Costco Wholesale Club has tapped its longtime director as its new chairman. The company announced the election of Hamilton “Tony” James to the position of chairman. He replaces Jeff Brotman, who co-founded Costco with James Sinegal in 1982. Brotman passed away unexpectedly on Aug. 2.
PetSmart CEO resigns

The chief executive of the nation's largest specialty pet retailer of services and solutions has left the building. PetSmart announced that Michael J. Massey has stepped down from his position as CEO, president and board member. Raymond Svider, managing partner at BC Partners, will serve as executive chairman and oversee the company’s operations with the senior leadership team while the board searches for a new chief executive.
Canadian outerwear brand in brick-and-mortar expansion

A premium outerwear best known for its signature goose-down jacket with fur-trimmed hood is expanding its fledgling store footprint. Canada Goose Holdings Inc. announced plans to open three additional retail stores this fall, with locations in Boston, Calgary (Canada), and Tokyo, Japan. Also opening this fall are two previously announced stores in Chicago and London.