News

H&M’s expansion plan calls for new stores and added emphasis on digital
In addition to reporting a strong quarter of earnings and store openings, H&M is slowing down its store growth and instead, bolstering its digital operations. The company, which aimed to open 10% to 15% more physical stores each year, reported Tuesday, Jan. 31, is shifting its focus to increasing its omnichannel sales — including both stores and online sales — by 10% to 15% per year, according to H&M.
Shoes.com shuts down operations
In an abrupt move, Shoes.com pulled the plug on its operations on Friday, Jan. 27. The company, which said in September it was preparing for its next phase of growth, took its three e-commerce businesses, Shoes.com, ShoeMe.ca and OnlineShoes.com, offline, and closed the doors to two brick-and-mortar locations in Vancouver and Toronto.

Office supply giant names tech exec as new CEO

Office Depot has named a successor to CEO Roland Smith, who previously announced his intention to retire from the company. The company also named a new chairman. The retailer has appointed Gerry P. Smith as CEO, effective Feb. 27. Smith currently serves as executive VP and COO of Lenovo Group, a $45 billion global technology company.
Planet Hollywood puts a new, immersive spin on theme dining

Planet Hollywood has taken the wraps off its Orlando, Florida flagship, which has been totally transformed with a dazzling, multi-million dollar renovation.
Lamps Plus purchases $7 million warehouse to speed up fulfillment

Lamps Plus is taking steps to meet its shoppers’ increasing demand. The lighting retailer is expanding its warehouse presence in Redlands, Calif., with the acquisition of a 57,000-sq.-ft. building. The building is located next to Lamps Plus’ existing 800,000-sq.-ft. facility, which opened in 2007.
Starbucks to hire 10,000 refugees

Starbucks Corp. is living up to its reputation as one of the nation’s most socially progressive retailers. On the heels of President Donald Trump's indefinite suspension of Syrian refugees and temporary travel bans that apply to seven predominantly Muslim countries, the coffee giant pledged to hire 10,000 refugees to work at its stores around the world during the next five years.
Macy’s sells chocolate brand

Macy’s is exiting the chocolate business. The department store retailer is selling its Frango chocolate brand to Garrett Brands, owner of Garrett Popcorn Shops, for an undisclosed amount. Macy’s had inherited Frango, whose roots date back to 1918, from Marshall Field & Co., which was acquired by Macy’s in 2005.
Amazon wins new robot patent

Amazon’s packing processes are about to get even faster. The retail giant has been issued a patent for a robot that can pack orders, potentially speeding up the fulfillment process, according to NBC News.
Walgreens, Rite Aid extend end date for merger

Walgreens Boots Alliance and Rite Aid on Monday morning extended their previously announced definitive merger agreement under which Walgreens Boots Alliance will acquire all outstanding shares of Rite Aid. The retail pharmacy operations also restructured a new deal that would value Rite Aid at between about $6.8 billion and $7.4 billion, depending on required store divestitures, down from an initial acquisition cost of $9.4 billion.
Brooks Brothers exec to head up tech at DXL

A retail veteran is leaving Brooks Brothers to join Destination XL Group. The men’s specialty apparel retailer has named Sahal Laher as its senior VP, chief digital and information officer, effective Monday, Jan. 30. Laher, Brooks Brothers’ former executive VP of digital innovation and technology and global CIO, will be the principal architect and leader of DXL’s digital commerce strategies and IT/MIS operations. Laher will also be a member of the company’s executive committee.