News

Retail jobs dip slightly in July
The retail industry lost jobs in July. Retail industry employment declined slightly in July, decreasing 1,700 jobs from June, according to the National Retail Federation. On a three-month average, retail jobs have decreased by 4,200 jobs as calculated by NRF. (The numbers exclude automobile dealers, gasoline stations and restaurants.) On a positive note, the economy overall saw gains of 209,000 jobs in July, exceeding growth expectations for the month.
Specialty retailer sets sights on new market
The Tile Shop is entering the most populous metropolitan market in Texas The specialty retailer of manufactured and natural stone tiles has opened its first store in the Houston market, in the suburb of Webster. Throughout 2017, The Tile Shop will open several other stores in the greater Houston area, including a second location in mid-August, in Sugar Land. With the two Houston openings, the retailer will have a total of 132 stores in 31 states and the District of Columbia,

FedEx pivots in holiday shipping charges — except in some instances

FedEx is giving its customers an early holiday gift — while taking a stab at its rival UPS. The delivery service announced that it will forego additional surcharges on deliveries this holiday season — unless packages require additional handling, are oversized or unauthorized. FedEx made the decision based on the growing volume of large packages moving through the FedEx Ground network during the holidays.
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Unsettled retail environment taking toll on senior executives pay

Volatility in the retail industry is now hitting senior retail executives in the pocketbook. Seventy-three percent of retail companies paid little to no bonuses to senior executives in 2017 for 2016 performance, with 35% paying no bonus and 38% paying only small bonuses to their executives, according to new research by Korn Ferry. The company conducted an analysis of 40 North American retailers with annual sales between $1 billion and $50 billion
CEO Corner: Q&A with At Home's Lee Bird

Someone forgot to tell At Home that big-box stores are passé. Since Lee Bird took the reins as chief executive at the beginning of 2013, the Plano, Texas-based home decor superstore retailer has been on a steep upward trajectory — and it shows no signs of losing momentum anytime soon.
Dick's Sporting Goods in store openings

Dick's Sporting Goods will be busy in August, opening five stores in three different states. The nation's largest sporting goods retailer will open two namesake stores and three Field & Stream stores in the first half of August. In Prosper, Texas, Dick's and Field & Stream will open under one roof at the Gates of Prosper. And in Houston, Dick's will open at Post Oak Shopping Center.
Sugarfina gets backing to expand

Sugarfina is looking to expand its luxury candy offerings, online and in stores. The company announced it has closed a $35 million growth equity financing from Great Hill Partners, bringing Sugarfina's total funding to over $50 million. The new funding will be used to continue scaling the brand across retail, digital, wholesale, and corporate gifting, and to expand internationally to the Middle East, Europe, and Asia. Sugarfina will begin its overseas expansion in early 2018.
Costco strong in July

Costco Wholesale Corp. turned in a winning performance in July, fueled by strong traffic trends. The company reported that its net sales in July rose 8.8% to $9.41 billion, compared to $8.65 billion during the similar period last year. Total company same-store sales rose 6.2%, with a 6.0% increase in the U.S. Excluding the impacts from changes in gasoline prices and foreign exchange, total same-store sales rose 5.3%, and 5.5% in the U.S.
Amazon’s shoe business outpacing brick-and-mortar competitors

Amazon’s investments in the shoe business are paying off. While 2017 is not even close to over, it is shaping up to being a strong year for shoes on Amazon. The company has already experienced 18% growth year-over-year during the first two quarters, alone. For 2016, Amazon had a total of 35% year-over-year growth, according to a study by One Click Retail.