News

Hudson’s Bay reportedly approaches Macy’s about a takeover
A blockbuster deal in retail could be on the horizon. Or not. Canada’s Hudson's Bay Company has approached Macy’s about a takeover, reported The Wall Street Journal, citing people familiar with the matter. The talks between the companies are in the early stages and could lead to something other than an acquisition, according to the Journal, such as a deal for Macy’s real estate, which could be valued at roughly $14 billion. The talks could also go nowhere.
Dillard’s to replace Macy’s at Utah Mall
Dillard’s has signed an agreement to move into a shuttered Macy’s store at the Layton Hills Mall in Layton, Utah, north of Salt Lake City. Construction on the 160,000-sq.-ft. site is set to begin in April, looking toward a fall 2017 opening.

Warehouse club retailer to open new location and DC

PriceSmart is ready to break ground on its newest locations. The warehouse club retailer has acquired approximately 242,000 sq. ft. of land in Santa Ana, Costa Rica — the home of its newest warehouse club set to open in the fall. This will be the chain’s seventh club operating in Costa Rica.
CBL acquires five Sears stores in sale-leaseback deal

CBL has worked out sales-leaseback deals with Sears Holdings to take ownership of five Sears department stores and two Auto Centers located at company malls in the Southeast. The deal was consummated for $72.5 million.
Tractor Supply packs a double-digit wallop in Q4

Tractor Supply Company shot up by the double-digits in the fourth quarter, with net sales jumping 16.4% over the year-ago quarter. "While it was obviously a challenging retail environment, our Tractor Supply team managed the business well and drove strong comparable store sales and earnings per share growth," said CEO Greg Sandfort. "Throughout the quarter, the team worked hard to take advantage of weather trends, localize assortments, manage inventory and shorten the supply chain."
InvenTrust buys adjoining centers in Pembroke Pines

Acquisition-minded Inventrust Properties has announced the purchase of two adjoining centers in Pembroke Pines, Florida, for a total of $163 million. Following completion of an expansion project later this year, the two will total 389,000 sq. ft. The dominant Westfork Plaza is anchored by Costco and Regal Cinemas and includes Ross Dress for Less, T.J. Maxx, and Petco. The adjoining Paraiso Parc is a Publix- anchored center with restaurants including Firehouse Subs and necessity-based retail.
Amazon Q4 profit surges, but sales fall short

Amazon had a very good holiday, but wasn’t quite as stellar as the Street predicted. The retail giant’s net sales increased 22% to $43.74 billion in the fourth quarter, lower than analysts had expected. The company’s outlook for the fourth quarter also fell short of expectations. Net income, however, surpassed analysts’ estimates, and jumped to $749 million, compared to $482 million in fourth quarter 2015.
Report: Shoppers increase online grocery orders, but want more value

More shoppers are buying groceries online, but a majority are ready to switch grocers in favor of a better online experience. This is according to the “2017 Grocery eCommerce Forecast,” a report from Unata, which surveyed over 500 U.S. shoppers about online grocery shopping habits, intent and barriers. Details revealed that 31% of U.S. shoppers are likely to order groceries online in 2017, up from 19% of shoppers that bought groceries online in 2016.
Nordstrom Rack headed to downtown LA

Nordstrom Rack is going to set up shop in a rapidly expanding area of Los Angles. The retailer will open an approximately 27,000-sq.-st. store in fall 2017 at FIGat7th, an open-air center in the heart of downtown Los Angeles (DTLA) owned and operated by Brookfield Property Partners L.P. The new Nordstrom Rack will join Target, H&M, Victoria's Secret, MAC and other retailers and restaurants at the center, which located at 7th & Figueroa Street.
Pet specialty retailer empowers associates with mobile-delivered data

PetSmart has a new strategy to keep its 55,000 employees informed and abreast of key insights. When the 1,500-store retailer wanted to improving data accessibility across its enterprise, it turned to mobility. The chain began its mobility effort by developing one mobile app in 2010. By leveraging the MicroStrategy 10 mobility platform from long-time partner MicroStrategy, the company now has nearly 20 internal apps that deliver key insights to senior leaders and associates across the enterprise, the company said.