News

Historic Hudson’s Bay store opens event venue
Hudson’s Bay Co.’s is taking advantage of the views and design of its iconic Calgary building in a new way. Through a partnership with restaurant group Oliver & Bonacini, the retailer is transforming the entire sixth floor of its 104-year-old building into an event venue. The 18,000-sq.-ft. space, called The Hudson, features meeting rooms on either side of a large common area, and two large event spaces that can accommodate up to 700 people, according to The Calgary Herald.
7-Eleven opening futuristic store in South Korea
Convenience-store giant 7-Eleven is opening a store that allows customers to pay simply with a wave of their hand.

Office supplies giant sells operations in China

Office Depot is selling off another international unit. The office supplies giant announced it will sell its stores in China to Shanghai M&G Colipu Office Supplies Co., Ltd. The public, China-based public company manufactures and sells writing instruments, as well as stationery products for offices and students.
Casual clothing and workwear retailer on the hunt for a new CFO

Duluth Holdings is losing its finance chief. Mark DeOrio, the company’s CFO, will retire at the end of 2017. DeOrio will remain in his role until the next finance chief is appointed, and he will then assist with his successor’s transition until his retirement. DeOrio has held the role since August 2010. He also served as senior VP of operations from 2010 to January 2015.
H&M firms up plans for Arket brand

As H&M braces for the opening of its first Arket store, it is already putting a plan in motion for its second location. The fast-fashion chain announced in March that is plans to launch its new brand, Arket, in early fall. Arket, H&M’s first new brand in three years, will feature merchandise men, women and children, and a smaller, curated assortment of home goods.
Walmart CEO: ‘Associates are the secret to our success’

Walmart is no stranger to innovation. However, when defining the secret to the company’s success, Walmart’s chief executive Doug McMillon said he just has to look within the company’s proverbial four walls.
Five Below hits it out of the park in Q1

Teens’ demand for slime to fidget spinners helped boost Five Below’s first quarter sales, comps and earnings well above expectations. For the first quarter ended April 29, the teen value retailer reported a net income of $8.4 million compared to $6.8 million in the first quarter of fiscal 2016. Meanwhile, the chain’s sales increased almost 21% to $232.9 million, from $192.7 million in the first quarter of fiscal 2016.
Macy’s shakes up digital team

Macy’s named two key leaders in a move to bolster the company’s digital initiatives. The department store chain named Yasir Anwar as its executive VP and CTO, effective immediately. In this new role, Anwar will oversee all technology functions for Macy’s, including expanding the company’s technological capabilities and further driving mobile and digital growth.
Amazon expands distribution fleet in California

Amazon is bolstering fulfillment efforts in the Golden State. The online giant will open an 855,000-sq.-ft. fulfillment center in Fresno, California. The new facility will specialize in handling smaller-sized items such as books, electronic devices and children’s toys. The Fresno facility will be the fifth warehouse in the state’s Central Valley. Amazon currently operates three fulfillment centers in Tracy and Patterson, and a fourth facility under construction in Sacramento.
Online giant granted patent for parachute-dropping drone

Amazon’s newest win aims to further improve how it delivers packages. The online giant won a patent from the U.S. Patent and Trademark Office on May 30, for an “aerial package delivery system.” While Amazon is no stranger to using drones, the company’s newest air-based endeavor raises the bar another notch.