News

Survey: Employee theft on the rise
In a sobering statistic, one out of every 27 employees was apprehended for theft from their employer in 2016. That's according to “The 29th Annual Retail Theft Survey,” conducted by Jack L. Hayes International, a loss prevention and inventory shrinkage control consulting firm. The survey is based on reports on over 380,000 shoplifting apprehensions that took place in 23 large retail companies, representing 16,038 stores with combined 2016 annual sales in excess of $370 billion.
Commentary: Amazon-Whole Foods deal ‘potentially terrifying’ for other grocers
The retail sector is used to change, but every so often an event occurs that shakes the industry to its core. Amazon's acquisition of Whole Foods is one of those. On the surface, the purchase -- which comes with a $13.7 billion price tag -- is surprising. However, there is an inherent logic in the move which, in our view, brings benefits to both businesses.

Amazon buying Whole Foods Market

In a blockbuster deal, online giant Amazon is acquiring Whole Foods Market in an all cash transaction valued at $13.7 billion, or $42 a share. John Mackey, co-founder and CEO of Whole Foods, will remain CEO of the grocer after the deal closes. Stores will continue to operate under the Whole Foods banner, and the company's headquarters will remain in Austin, Texas.
J. Crew clinches lender support to trim debt load

J. Crew is entering into a deal that it expects will put it one step closer to improving its business. The fashion retailer has won the support of more than 50% of its term loan holders to trim its $2 billion debt load and end intellectual property litigation. This was according to sources familiar with the situation, according to Reuters.
CBRE: E-commerce still lacks traction in some retail categories

E-commerce has generated significant volumes of sales in the electronics and clothing industries, but has yet to gain traction in other retail sectors.
West Elm to make Phoenix debut

West Elm is adding to its growing retail footprint. The home furnishings and decor brand, a division of Williams-Sonoma, will open its first location in Phoenix, in the revitalized Uptown Plaza shopping center, on June 29. The 11,000-sq.-ft. store will include a curated assortment of local products highlighting 10 Arizona-based makers and designers.
Walmart doubling down on fashion with Bonobos acquisition

Walmart is buying the hot men's clothing company Bonobos for $310 million in cash. The move is in keeping with Walmart's recent efforts to beef up its online offerings and widen its appeal by buying digitally native brands that target millennials and younger consumers. Founded online in 2007, Bonobos has expanded its assortment over the years and has also opened 35 brick-and-mortar stores ("Guideshops"). It also has a partnership with Nordstrom.
TreeHouse, Dallas

Eco-friendly home improvement retailer TreeHouse's new outpost in Dallas is billed as the nation's first energy-positive (meaning it will generate more energy than it uses) big-box store. The 35,000-sq.-ft. space offers a curated selection of products, materials and technologies — some not available elsewhere—designed to promote healthy and sustainable spaces. It also offers turn-key services and programs, including kitchen and bath design. solar energy kits, home insulation and "smart" home installation.
Experts Weigh In: Amazon to buy Whole Foods for $13.7 billion

Chuck Grom, analyst, Gordon Haskett analyst:
Amazon eyes messaging startup

Amazon may be looking to bolster its enterprise services offering with an innovative addition. Corporate chatroom startup Slack Technologies has received inquiries of late about a potential takeover from technology companies, including Amazon. The company is valued at approximately $9 billion, according to Bloomberg.