News

Free People to cap off re-made Princeton center
Madison Marquette’s transformation of the MarketFair center in West Windsor, New Jersey, will be complete with next week’s opening of the first Free People store in the Princeton area. Free People has become a sought-after retail brand known for bringing new creative flair to women’s apparel retailing.
Tractor Supply is weather-challenged in Q1
Tractor Supply Company reported declines in first quarter comp-store sales and net income as mild weather reduced sales of winter products. "Due to the challenging weather conditions, we were unable to offset the strong seasonal performance from last year's first quarter," said CEO Greg Sandfort. "As the weather has normalized over the past few weeks, we are encouraged with how the customer has responded and believe there is significant spring business ahead of us."

Target extends solar commitment with two innovations

Target Corp. is extending its progress to renewable energy and making progress on its goal to have 500 buildings with rooftop solar panels by 2020.
Study: Data must ‘deliver’ in the age of personalization

Companies are adopting more solutions to gain a 360-degree view of each customer. While 88% of companies believe their investments help their organization understand customer needs, only 61% of consumers agree — a gap that is costing retailers $62 billion a year, according to research from Talend. The provider of cloud and big data integration software surveyed 361 IT leaders and 1,094 consumers in the United States, the U.K., France, and Germany.
Iconic footwear brand in deal to expand worldwide

Authentic Brands Group has taken a 51% stake in Frye, one of the nation’s oldest footwear brands, with an eye to expanding its footprint. ABG will co-own the brand in partnership with Global Brands Group Holding Limited, from whom it acquired the stake. This is the first time ABG and Global Brands, who have had a long history of collaboration, co-own a brand.
Coffee giant meets profit expectations but sales miss

Starbucks Corp. met profit expectations for its second quarter even as its sales disappointed. The retailer’s net earnings increased 13.5%, to $652.8 million, or 45 cents a share, in line with expectations. Revenue totaled $5.28 billion, less than expected. Same-store sales rose 3%, also below forecasts, as average tickets rose 4%. Customer transactions were down 2%, which the company attributed to a change in its rewards program.
Bonobos continues offline expansion

E-commerce driven Bonobos continues to expand its physical presence. The upscale menswear retailer added three new stores (which it calls “guideshops”), with locations at Westfield Century City in Los Angeles; the Summit in Lexington, Ky.; and Chicago’s Southport neighborhood, reported wwd.com. Another outpost is due to in Denver next week.
Under Armour reports first-ever loss

Bankruptcies in the sporting goods sector is taking a toll on Under Armour, but the brand still managed to beat expectations in its first quarter.
Apparel retailer launches first mobile app in Europe

Tommy Hilfiger is giving European customers a new way to connect with its brand. The specialty apparel retailer joined forces with PredictSpring to launch a mobile app targeting the European market. The app will enable consumers in 17 countries to log into their Hilfiger Club loyalty accounts, and receive personalized messages, promotions and event invitations.
Study: Most retail associates will use mobile solutions within three years

More retailers are putting mobile devices into their associates’ hands. Momentum is so strong that within three years, 89% of retailers will give their associates access to mobile solutions, according to “The Mobile World of Retail,” a report from Boston Retail Partners. BRP surveyed the top North American retailers to explore the current state of how mobile technology is shaping retail capabilities, priorities and processes.