News

Simon launches ‘concierge bot’
Simon is debuting a new type of concierge — one that never calls in sick. The mall owner launched a chatbot designed to deliver customers at its 208 North American centers useful information as they shop. Described as the industry’s first enterprise-wide bot, the artificial intelligence-based technology is available through Facebook Messenger, and provides store and restaurant information, hours of operation, special events, daily promotions and a list of available amenities.
Abercrombie & Fitch continues rollout of new store prototype
Abercrombie & Fitch Co. has brought its updated store environment to Tysons Corner Center, Tysons, Va. The location is one of seven new concept stores the retailer will open by yearend. Abercrombie debuted the new look in February, at Polaris Fashion Mall in Columbus, Ohio. It has also opened at Lenox Square, Atlanta, Georgia, and at Somerset North, Troy, Michigan (Somerset North).

CVS Health tops Q2 forecasts

The nation's second largest drugstore chain by store count posted a higher-than-expected quarterly profit amid stronger demand for its pharmacy benefits management business. CVS’ net income rose 18.8% to $1.1 billion in the second quarter, ended June 30. Net revenues rose 4.5% to $45.7 billion, with a 9.5% increase in revenue in it pharmacy services segment, which includes its pharmacy benefits manager (PBM) business and specialty pharmacy services.
Commentary: ‘Fresh start’ for Ralph Lauren

Ralph Lauren starts its new fiscal year in much the same way as it ended the last one: with sales lines splashed with red ink to indicate the severe declines across most divisions of the company. Some of this would be excusable if the iconic brand were at the start of a journey of reinvention, but this comes after multiple attempts to get the firm back on track - most of which have proved to be fruitless.
Walmart deploying tech that lets in-store shoppers check out — on their own

A discount giant is helping more shoppers skip the checkout line. Walmart is expanding the deployment of its Scan & Go mobile app, which is being tested in approximately 12 stores across Northwest Arkansas, Florida, Texas and Georgia. The chain is now rolling out the app for use in at least 10 additional locations in the Dallas-Fort Worth and Nashville markets. The stores will offer the solution by the end of the month, according to Justin Rushing, spokesman for Walmart.
Pier 1 on hunt for new finance chief

Pier I Imports' loss is Fossil Group's gain. Pier 1 Imports announced that Jeffrey N. Boyer, executive VP and CFO, is leaving the company effective October 3, 2017 to become CFO of Fossil Group, where he has been a member of the board of directors since 2007. Pier 1 is appointing an executive search firm to conduct a search for a new CFO.
Report: Online giant operates 19 private-label brands

Amazon has a stronger foothold in the private-label market than some may realize. Besides its AmazonBasics house line, which includes small items from iPhone chargers, to batteries, power strips, the online giant is selling products across a wide array of categories. Specifically, Amazon features approximately 19 company-owned brands that are exclusively available on Amazon, reported Quartz.
British online fashion giant doubling down on the U.S.

As if American apparel retailers didn't have enough homegrown competition, ASOS, the largest online fashion retailer in the U.K., is making a major push into the American market.
These two retailers played key role to defeat controversial proposal

Target Corp. and Best Buy didn't just talk the talk when it came to killing a border adjustment tax on imports that was the centerpiece of House Republicans tax reform plan. In the first six months of 2017, Best Buy spent $1.71 million in lobbying efforts, twice as much as it spent the entire year in 2016, the Star Tribune reported. Target Corp. spent $1.48 million lobbying from January through June 2017, which was slightly less than it spent all of last year.
Chinese e-commerce giant in joint venture with Marriott

Alibaba Group Holding is expanding its online travel footprint.