News

Manny, Moe and Jack finally find a buyer
Japanese tire manufacturer Bridgestone is accelerating its growth plans in the United States by acquiring the Pep Boys auto parts chain, just as Americans are keeping their cars longer.

The Pep Boys – Manny, Moe & Jack Co. has entered into a definitive merger agreement with Bridgestone under which BSRO will acquire Pep Boys in an all-cash transaction for $15 per share, or approximately $835 million in aggregate equity value.
Tech Bytes: Three Thoughts on Social Retailing: SAP Retail Forum
At the recent SAP Retail Forum held in Miami, I was part of a panel discussion titled, “Creating One Experience for the Digital Consumer.” Providing a consistent, integrated online and offline experience for digital shoppers is a multifaceted task that involves many platforms.

A lot of my commentary focused on how social media in particular can prove a crucial asset in creating a unified digital customer experience. Here are three specific thoughts on social retailing pulled from the panel discussion.

2015 holiday retail storecast

With (believe it or not) the holiday season almost upon us, it is time once again to take part in the annual ritual of crystal ball gazing and seasonal sales forecasts.
Microsoft targets (Big) Apple with new flagship

Microsoft is opening its first Manhattan flagship store, with a major competitor conveniently nearby.
Webinar: What retailers need to know about omnichannel integration

Many retailers are still on a quest to offer customers a seamless experience.
J.C. Penney letting go of 300 at HQ

Headquarters layoffs are spreading throughout the retail industry with J.C. Penney joining Walmart and Dollar General in making deep cuts to its non-store workforce.

The department store retailer on Thursday said it planned to cut 300 of its 3,400 home office positions to reduce expenses and achieve financial targets.
Report: Three Biggest Takeaways from Amazon’s impressive third quarter

Amazon surpassed analysts’ expectations on Thursday, posting a 23% increase in revenue and its second consecutive quarterly profit. But according to a report by The Street, Amazon’s fast-growing cloud services business was the biggest story, bringing in $2.1 billion in revenue for the quarter. [The Street]
Former Bon-Ton, Lord & Taylor CEO takes top spot at luxury brand

A veteran retailer has taken the reins at Vince, a leading-edge contemporary fashion label and retailer.

The company named Brendan L. Hoffman as CEO, effective immediately, replacing interim chief. He is the former chief executive and president of The Bon-Ton Stores Inc, a position he held from February 2012 to August 2014. Prior to that, Hoffman was CEO and president of Lord & Taylor.
Nike, East Los Angeles

Nike has brought its “community store” concept to California, opening a 19,000-sq.-ft.-plus location in East Los Angeles.
Hay Creek Shops open first phase of development

Bismarck, N.D. -- The Woodmont Company and Northwest Contracting announce the completion and opening of the first phase of development of Hay Creek Shops in Bismarck, North Dakota. Hay Creek Shops is a regional power center on 33 acres that once complete will total more than 300,000 sq. ft. of retail and restaurants.
Staples founder Tom Stemberg has died

One of the retail industry’s true innovators, Staples co-founder Tom Stemberg, passed away on Friday at the age of 66. 
Report: Struggling grocer turning out the lights

Fresh & Easy, which opened its first store in 2007 and was U.K. giant Tesco’s first U.S. venture, is closing its stores, the Los Angeles Times reported. The chain, which was never able to gain a foothold in the competitive U.S. grocery market, filed Chapter 11 in 2013, and was acquired by grocery billionaire Ron Burkle's Yucaipa Cos. with a loan from Tesco. [Los Angeles Times]