News

Watch out Victoria’s Secret — Amazon is moving onto your turf.   The online retail giant plans to launch a line of inexpensive bras in the United States, reported The Wall Street Journal.   The bras will be priced around $10, according to the report, which is significantly lower than the bras sold by Victoria's Secret and other lingerie retailers.   

It’s not over yet for the embattled Sears Holdings, which is streamlining its operations on the heels of what appears to be a brutal fourth quarter.    The long-struggling retailer on Friday announced a comprehensive restructuring that will cut at least $1 billion in operating costs a year. The plan involves reducing corporate overhead (although Sears did not specify, job cuts are likely), closer integration of the Sears and Kmart operations and improving its merchandising, supply chain and inventory management.

Neiman Marcus blends a modern, luxurious design with state-of-the art technology and amenities at The Shops at Clearfork, a new open-air center in Fort Worth, Texas.   Alamo Architects took special care to ensure the exterior of store drew upon the surrounding area’s natural features and climate. The building façade, which draws inspiration from woven fabric patterns, was created with artisanal pre-cast concrete, sustainable panels.   

J.Jill Group is looking at a return to the public markets. The apparel retailer, which is owned by private-equity firm TowerBrook Capital Partners LP, announced that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed initial public offering of its common stock. TowerBrook acquired J.Jill from Arcapita and Golden Gate Capital in 2015. The chain was previously owned by The Talbots.

The National Retail Federation’s economic forecast for 2017 is a mostly positive one.   The association is projecting that retail industry sales, which exclude automobiles, gasoline stations and restaurants, will grow between 3.7% and 4.2% over 2016, roughly in line with last year’s 3.8% increase.     Online and other non-store/online sales, which are included in the overall number, are expected to increase between 8% and 12%.  

CVS Health on Thursday reported record fiscal fourth-quarter and full-year 2016 results   Net revenues for the three months ended Dec. 31 increased 11.7% to $46 billion, up from $41.1 billion in the year ago period.  

The Iowa-based Von Maur department store chain will be installing a 90,000-sq.-ft. location at PREIT’s Woodland Mall in Grand Rapids, Michigan, in a space to be vacated by Sears. A 2019 opening is planned.   A 145-year-old, family-owned chain of 31 stores in 14 states, Von Maur’s offerings aspired to the high end with brands like Eileen Fisher, Coach, and Tommy Bahama.  

As malware attacks drop, it is becoming clear that cyber-criminals’ weapons of choice are shifting — and retailers need to be ready.   That’s “2017 SonicWall Annual Threat Report,” which is compiled from data collected throughout 2016 by the SonicWall Global Response Intelligence Defense (GRID) Threat Network. This includes daily feeds from more than 1 million security sensors in nearly 200 countries and territories.