News

Office supplies giant names marketing chief
Staples has added a new marketing leader to its executive team. Michelle Bottomley has been appointed chief marketing officer. In this role, she will be responsible for marketing across Staples, and helping to promote the company’s focus on its North American Delivery business. She will report to Staples’ CEO and president Shira Goodman.
Consumer electronics giant starts the year strong; to roll out home service
Demand for gaming and mobile products boosted Best Buy’s first-quarter comparable sales, as the retailer beat the Street on profit and sales. Best Buy revenues rose 1% to $8.53 billion for the period ended April 29, 2017, beating analysts’ estimates of $8.28 billion, from $8.44 billion in the year-ago period. Net income fell to $188 million, or 60 cents a share, easily beating the Street and down from $229 million, or 70 cents per share a year earlier when it benefitted from some settlement proceeds.

Report: Walmart gaining big share in grocery

Walmart is on fire in grocery and capturing a bigger share from traditional supermarkets. That's according to Loop Capital analyst Andrew Wolf, who estimates Walmart currently has a 21.5% market share in the U.S. traditional grocery market, reported CNBC. "Wal-Mart is taking back share from the traditional supermarket at an accelerating rate," Wolf said.
Motor-themed restaurant/retail concept revs up for U.S. debut

Start your engines: Ace Café, a motorcycle and car-themed chain, has parked itself in downtown Orlando. The 35,000-sq-ft. entertainment, dining and retail destination is the first North American location of the London-based brand and the sixth Ace Cafe in the world. Ace Cafe Orlando spans two floors and features a full-service restaurant, four bars, a coffee bar, a stage, a mezzanine that overlooks the main floor dining area and stage, and private and semi-private spaces for groups.
Retail CEOs make voice heard in DC

Twenty retail executives traveled to the nation's capitol on Wednesday to voice their opposition to the proposed border adjustment tax (BAT).
New Nordstrom board member could bolster innovation

A luxury retail giant just made a move that could step up its digital efforts. Nordstrom appointed Stacy Brown-Philpot to its board of directors, and she will also serve as a member of the board’s finance and technology committees. She replaces Enrique 'Rick' Hernandez, Jr., who announced earlier this year that he would not be seeking re-election.
Chico's profit, sales and outlook disappoint

Chico's FAS gave a downbeat outlook amid first quarter earnings and sales that missed Wall Street estimates. The women's apparel retailer reported net income of $33.6 million, or $0.26 per diluted share, in the period ended April 30, compared to net income of $31.1 million, or $0.23 per diluted share, in the year-ago period. Analysts had estimated earnings per share of 29 cents for the quarter.
Online giant on the hunt for 'innovative' store designer

Amazon is beefing up the team responsible for its grocery store concept. According to a job description on LinkedIn, the company is looking for an "innovative" store designer to join its Amazon Go ACE (Architecture, Construction & Engineering) team. The ideal candidate, according to the posting, is a "self-starter who thrives in a fast-paced, ambiguous environment and has a deep passion for innovative retail design."
Auto parts/accessories retailer in slow gear in Q1

Advance Auto Parks turned in a disappointing performance in its first quarter. The chain reported earnings of $1.46 per share, down from $2.16 per share in the year-ago period. Adjusted EPS was $1.60, far short of the $2.16 per share FactSet consensus.
Twitter features fun — not transactional — bot program

A social media giant is getting in on the chatbot wave. Twitter launched a new, customizable Direct Message Card that brands can use to promote and share bots and other customer experiences built in its Direct Messages tool. Direct Messages helps companies create personalized ads and interactions — ranging from customer acquisition programs to engaging bots.