News

Fred Segal ups the ante on Hollywood flagship
Fred Segal is designing its new flagship to be more than a just “a store.” Instead, it’s creating “a style and design laboratory.”
Drug store giant enters Colorado
CVS Pharmacy opened its first store in the Centennial State. CVS Pharmacy’s newest location resides in Parker, Colorado. It is the first of three stores slated to open in the greater Denver market this year.

It’s official: Pet supplies giant acquires fast-growing online rival

PetSmart has been setting the stage to accelerate its digital offerings. Now it can.
Michael Kors plans store closures as loss widens

In effort to dig out of its sales funk and rebuild its brand, Michael Kors plans to shutter more than 100 full-price stores.
Gifting retailer sells luxury sweets line, but keeps brand connection

1-800-Flowers.com has officially sold its premium chocolates business. The gifting retailer closed on the sale of Fannie May Confections Brands — including its subsidiaries Fannie May Confections and Harry London Candies — to Ferrero International on Tuesday, May 30. The deal, which is valued at $115.0 million, entitles Ferrero to all operations of Fannie May, the confectioner’s manufacturing facility in Ohio, and two warehouse and distribution facilities, located in Ohio and Illinois.
Luxury retailer loses interim key executive

The interim CFO of Neiman Marcus has resigned after seven months on the job. Michael Fung will step down from his position as the luxury retailer’s interim CFO and COO, effective June 30. Fung temporarily left his retirement to join the company on an interim basis in November 2016.
Study: Innovative tools turn online customers into repeat shoppers

Attracting — and sustaining — loyal online customers is no easy task. However, retailers that offer innovative customer service tools, a variety of fulfillment options, and engagement solutions will successfully turn frequent browsers into loyal shoppers. These details were revealed in a new retail report from Radial and CFI Group.
J.Jill’s comp sales soar in Q1

Despite a challenging retail landscape, J.Jill’s same-store sales growth and profits not only climbed, but topped analyst expectations. For the first quarter ended April 29, the mall-based women’s specialty chain’s overall revenue increased 12.5% to $166.1 million — a jump from $147.7 million in the first quarter of fiscal 2016. This also beat analyst estimates at $162 million.
Study: E-commerce fraud is declining — but the battle continues

E-commerce fraud as a percent of sales dollars may be on the decline, however losses still account for billions of dollars. This was according to the “Q1 2017 Global Fraud Index,” a report from Pymnts.com and Signifyd. The study measures and benchmarks innovations and trends that are reshaping the payments and commerce ecosystem.
Accenture launches new customer innovation center

Accenture is taking on its next innovation initiative. The company announced on Wednesday, May 31, that it opened an innovation hub dedicated to the retail, fashion and consumer goods industries. The Accenture Customer Innovation Network (ACIN), which resides in Milan, Italy, bolsters the company’s existing fleet of innovation facilities in Bangalore, Chicago, Manila and Singapore.