News

Amazon continues brick-and-mortar push
The nation’s capital has been added to the list of cities that will soon feature an Amazon Books store. The newest Amazon Books location will reside in a 10,000-sq.-ft. space in the Georgetown section of Washington, D.C., The Washington Post reported. The store, which was formerly occupied by Barneys New York, will be Amazon’s 13th bookstore.
Giftware retailer focuses on personalization
Lenox knows what its shoppers like — and now it has a way to digitally display luxury products that specifically meet their tastes. Inundated with a steady stream of new products, the giftware retailer needed a way to streamline its presentation of merchandise across digital channels, and still deliver an engaging customer experience. For Lenox, this included deploying the Oracle Commerce Cloud, an architecture that is modernizing the company’s omnichannel shopping experience.

Coach snags rival in $2.4 billion acquisition

Coach has acquired a brand with a strong following among millennials. The luxury handbag company on Monday announced that it will acquire Kate Spade & Company for $18.50 per share in cash, which represents a premium of 9% to Kate Spade's closing price on Friday. The deal, which has a total transaction value of $2.4 billion, is expected to close in the third quarter of 2017 and add to adjusted earnings in fiscal 2018.
Actress opening second store

Sarah Jessica Parker is expanding her brick-and-mortar retail business. The actress, producer, and designer will open her second freestanding store, in Las Vegas. The SJP by Sarah Jessica Parker store will be located at the Bellagio Resort & Casino and open this summer.
Walgreens, Rite Aid deal inches closer to resolution — one way or the other

Walgreens Boots Alliance has set in motion a mechanism that will result in the Federal Trade Commission having 60 days to either clear its $9.7 billion acquisition of Rite Aid or sue to block it, Walgreens and Rite Aid Corp. announced late Monday afternoon that they have “certified substantial compliance” with the second request from the FTC regarding their proposed merger.
Walmart debuts new financing plans

The nation’s largest retailer is introducing special financing for its credit cards that comes with an appealing hook. The new offer provides no-interest financing plans for the Walmart Credit Card and the Walmart Mastercard Credit Card, with plans extending across either six months or 12 months on purchases. Similar to most plans, customers don’t pay any interest during the promotional period. But the Walmart offer is different from most others in that the interest also does not accrue during the promotional period.
Report: Children’s clothing retailer to reorganize

Gymboree Corp. is planning a significant reduction in its store fleet. The retailer is looking to close hundreds of stores part of a restructuring under bankruptcy court protection, The Wall Street Journal reported. The final number of stores, however, has yet to be determined.
Online giant launches grocery service in Germany

AmazonFresh is expanding its breadth in one of its biggest markets outside the United States.
Coming soon: The Walmart Dash button?

Amazon’s signature Dash button may be getting some competition from a rival very soon. A patent filing by Walmart reveals that the retail giant could be developing an Internet of Things-based device that tracks how shoppers use products in their homes and then electronically reorders merchandise.
Merger talks between luxury department store companies hit a snag

Is Neiman Marcus about to be involved in a lawsuit as opposed to a merger?