News

Barnes & Noble surprises in Q4
Ongoing cost reductions helped the nation's largest bookstore retailer narrow its loss in its fourth quarter even as its sales continued to slide. Barnes & Noble posted a net loss of $13.4 million, or $0.19 per share, for the quarter, compared to a loss of $30.6 million, or $0.42 per share, in the prior year. For the quarter, the company's retail division generated an operating loss of $15.9 million, while Nook incurred an operating loss of $7.9 million, for a total operating loss of $23.8 million.
Sears debuts new store concept
Sears has opened a freestanding store concept dedicated to two of its strongest categories. Sears debuted its first store under the Sears Appliances & Mattresses banner, in Pharr, Texas. The format expands the concept of the Sears Appliance store, which opened in Ft. Collins, Colo. in 2016. The location has surpassed projections since its opening, Sears said.

Dollar General taps Vitamin Shoppe exec for key role

Dollar General has added a Vitamin Shoppe veteran to its ranks as executive VP and chief merchandising officer. Jason Reiser, most recently executive VP and COO of Vitamin Shoppe, will join the discounter, effective July 12. He replaces the recently retired Jim Thorpe. Reiser brings with him to Dollar General more than 30 years’ experience in retail management, private brand sourcing and regulatory affairs. He also is a trained pharmacist.
CSA Q&A: Walgreens talks about frictionless retailing

In an era when shoppers want a seamless shopping experience, Walgreens is pulling out the stops to deliver on their expectation.
Social network giant improves visual search engine

Pinterest is giving its image-based search engine an upgrade. Pinterest introduced Lens in February. Since then, users have been pointing their mobile cameras at objects they see out in the real world, from apparel and accessories to decor, and Lens serves up similar styles or related information on their mobile device’s screen.
J.Crew clinched lenders’ consent to amend loan

J. Crew just bought itself some more time with its lenders. Lenders holding approximately 88% of the outstanding principal amount of loans under J. Crew’s term loan agreement have approved a term amendment. The amendment, initially proposed in mid-June, was offering to exchange its $566.6 million of outstanding pay-in-kind notes due 2019. The notes were issued by Chinos Intermediate Holdings, an indirect parent to J.Crew.
Canadian retailer prepares for bankruptcy

Sears Canada could file for Chapter 11 sooner than expected. The struggling offshoot of Sears Holdings Corp., is preparing to seek court protection against its creditors. The filing — which could happen within weeks — will likely lead to a liquidation, with the business sold off in pieces, sources told Bloomberg.
Online merchant ups the ante in online price war

eBay is stepping up its game in the online price war competition, and taking aim at low-cost rivals Walmart and Amazon, among others. Starting Tuesday, eBay launched its Price Match Guarantee on more than 50,000 deals in the United States. As the name suggests, the program promises that an eligible deal will be the best price available online, or eBay will match the lower price found on a competitor’s website.
AmazonGo technology exec jumps ship

As Amazon continues to ready its cashierless convenience store concept for the public, the company has lost one of the project’s technology leaders.
Walmart to suppliers: Get off Amazon cloud

Walmart is asking its technology suppliers to pick sides in its retailing war with Amazon. The retailing giant reportedly warned some tech companies that if they want its business, they can't run applications on Amazon’s cloud platform, Amazon Web Services. Walmart currently partners with tech suppliers that already leverage cloud apps running on AWS, although the retailer didn’t reveal which applications or how many they use, sources told the Wall Street Journal.