News

Walmart issues $157 million in bonuses to employees
The bonuses, along with annual pay raises, were included in employees’ March 9 paycheck. Over the past two years, Walmart has invested billions of dollars in training, education and higher wages. These programs offer associates skills, knowledge and tools to help them grow with the company and provide great customer service during a time of rapid change in shopping habits.
Neiman Marcus exploring options — including sale
Neiman Marcus posted another quarter of declines for its second quarter. For the period ended January 28, 2017, the chain reported total revenues of $1.40 billion, a decrease of 6.1% compared to $1.49 billion for the second quarter of fiscal year 2016. Comparable revenues decreased 6.8%.

Beauty retailer expands augmented reality experience

A new app enhancement is helping Sephora shoppers complete their look. By adding new augmented reality-based features to the Sephora Virtual Artist app, the chain enables shoppers users to virtually try on thousands of shades of single and palette eyeshadows directly through their mobile device. This service augments the app’s existing functionality that allows users to try on an assortment of lip colors and false eye lash styles.
Former Gymboree CEO to head up Banana Republic

It’s a homecoming of sorts for Mark Breitbard. Gap Inc. on Tuesday named Breitbard as president and CEO of its struggling Banana Republic division. Breitbard served as CEO at The Gymboree Corporation from 2013 until he stepped down in early 2017. From 2010 to 2013, he held leadership positions across Gap North America, where he was instrumental in delivering the product-led resurgence of Gap’s North America business.
Albertsons names Mayes senior VP external affairs, chief diversity officer

Albertsons on Friday appointed Jonathan Mayes to the post of senior VP external affairs and chief diversity officer. In his new role, he will head up the company’s diversity and inclusion efforts, as well as its government relationships, philanthropy and sustainability departments.
Sporting goods retailer officially files for Chapter 11

Gander Mountain has filed for bankruptcy, but it is proactively seeking a buyer. The sporting goods retailer, which announced Friday, March 10 that it has filed for Chapter 11 protection, said it will pursue a “going concerns sale,” enabling it to function without the threat of liquidation for the foreseeable future.
New partnership expands e-retailer’s dress rental assortment

Vow To Be Chic is giving shoppers access to a new line of designer bridesmaids' dresses. The two-year-old start-up, which allows women to shop for bridesmaids’ gowns via their desktop, laptop or smartphone, will add six of the best-selling gowns from Amsale's Nouvelle Amsale line. The partnership marks the designer’s debut in the gown rental segment.
Teen apparel retailer beats Q4 forecasts

An increase in revenue and comparable store sales helped Tilly’s beat analyst expectations for the fourth quarter. For the period ended January 28, 2017, Tilly’s revenue was $160.2 million, an increase from $159.1 million last year. Net sales also topped Wall Street forecasts of $159.9 million. The chain also beat analyst predictions of earnings hitting 21 cents per share. Tilly’s posted a profit of 22 cents per share.
Century-old value department store calls it quits

Gordmans Stores is the latest chain to file for bankruptcy. The 100-year-old chain announced on Monday, March 13, that it filed Chapter 11 in the United States Bankruptcy Court for the District of Nebraska.
Discounter bolsters tech team through ‘acquihiring’

Data and analytics is more than a business foundation — it is a key differentiator in an increasingly competitive marketplace, according to Target’s senior VP Paritosh Desai. As a result, Target is making a big push to add top tech talent, from software engineers to data scientists — a move that pushed the chain to “acquihire” tech companies. In this practice, larger companies acquire smaller ones to obtain their technology and, essentially, hire their leadership and teams.