News

Retailers increase spending on lobbying efforts
Retailers concerned over the pending border-adjusted tax have boosted their lobbying efforts in Washington. Target Corp., Gap Inc., and Best Buy Co. Inc. spent nearly $3.2 million combined on lobbying during the quarter – as opposed to just $830,000 in the same period a year ago – according to federal lobbying disclosures filed Thursday, Bloomberg reported, while Wal-Mart spent almost $2.2 million in the first quarter, an increase of $140,000 over the same time last year.
Change in ownership at Edible Arrangements
The founder and CEO of Edible Arrangements has bought back equity ownership of the company. Tariq Farid announced Monday that he has completed a buyback of equity of the company, which had been held by private equity firm L Catterton, Greenwich, Connecticut. Terms of the transaction were not disclosed.

Report: Rent the Runway co-founder joins Walmart tech incubator

Walmart’s tech start-up has added a new leader. The retail giant’s newly launched startup investment arm, called Store No. 8, has named Jenny Fleiss as one of its chief executives, according to Reuters. Fleiss is the co-founder and former head of business development for Rent the Runway.
NRF: Mother’s Day spending to reach record-high

Whether treating mom to jewelry or a special outing at her favorite restaurant, consumers plan to spend more than ever on Mother’s Day. Specifically, Mother’s Day shoppers are expected to spend an average of $186.39 for the holiday, up from last year’s $172.22, according to the National Retail Federation’s annual survey, which tapped 7,406 consumers about their Mother’s Day plans. The study was conducted by Prosper Insights & Analytics.
Report: Online beauty consumers not very loyal to retailers

Digital shoppers enthusiasm for buying beauty products online doesn’t translate into retailer loyalty. While online sellers of beauty and personal care products continue to capture more market share, online shopper loyalty seems to be elusive, according to report by A.T. Kearney.
Report: 7-Eleven Japan and competitors launch next-gen POS

A convenience store giant has a solution that it hopes will solve a labor shortage — and simultaneously speed up checkout. 7-Eleven Japan is teaming up with four other major convenience store operators in the country to introduce radio frequency identification (RFID)-based point-of-sale solutions — a move that will automate the checkout experience and fight an employee shortage, according to Bloomberg.
Macy’s expands off-price concept

Macy’s is getting more serious about its off-price format, Macy’s Backstage. The department store giant plans to add 30 Backstage shops to existing Macy’s stores this year, reported CNBC. The format debuted in 2015, originally as a freestanding store.
Turnover in Sears’ CFO suite continues

Sears Holdings has a new finance chief — again. The struggling retailer announced that Rob Riecker, currently controller and head of capital market activities, has been appointed CFO, effective immediately. He replaces Jason Hollar, who resigned “to pursue another career opportunity,” the retailer said. Hollar was appointed to the role in October 2016.
Study: Mobile coupon usage on the rise

Not only is coupon app usage increasing, but discounts received via mobile devices are influencing where consumers decide to shop. Mobile coupon usage has increased 42% from 2016, while in-store shopping rewards app usage has increased 34% during the same time period. More importantly, the discounts received via smartphone or other mobile devices are influencing where 67% of consumers decide to shop.
Online giant expands its supply network in New Jersey

Amazon’s distribution fleet is once again bolstering its breadth. The online giant plans to open three additional fulfillment centers in New Jersey. The new sites in Cranbury Township, Edison and Logan Township, a move that will create more than 2,500 new, full-time jobs.