News

Hubert Joly, chairman and CEO of Best Buy, denied a report that has him taking the helm of a European retailing giant.    A report by Reuters, which cited Brazilian newspaper Valor Economico, said that Carrefour, the world’s second largest retailer, had identified Joly as a replacement for its current CEO, Georges Plassat, whose term ends in May 2018.     

More North American shoppers will have access to Alipay.   Through a partnership with leading luxury travel retailer DFS Group, Alipay’s in-store mobile payment service will be available in DFS’ Honolulu International Airport store, and its downtown T Galleria by DFS, Hawaii store in advance of the Chinese New Year. DFS Group launched Alipay in its airport stores in SFO, LAX, and JFK in 2016.  

Did Walmart's $3.3 billion acquisition of e-tail startup Jet — the largest buyout in American e-commerce history — help it this holiday season?     A new report from Ugam finds Walmart's first holiday season following its acquisition of Jet.com last summer saw fewer out-of-stocks, but that the chain still has room for improvement on pricing and assortment.  

Trion Properties, which is in the business of acquiring and turning around distressed properties, has sold its Valencia Town Center Plaza outside of Los Angeles for $9.8 million.   The 21,186-sq.-ft. Santa Clarita center was less than 50% leased when Trion acquired it for $6.8 million in 2013, according to Managing Partner Max Sharkansky, and now is near full occupancy. He said the center “presented an opportunity for us to increase net operating income through aggressive leasing and cosmetic upgrades.  

What better place is there for global exposure than the Olympic Games?   At least, that is what Alibaba is counting on now that it struck a deal to become a top sponsor of the Olympic Games through 2028. The sponsorship, which is worth $800 million, pits the brand among giants like Coca Cola Co. and Samsung Electronics Co., according to Bloomberg.  

While the path-to-purchase often starts online, a majority of interactions with a brand's website do not end in conversion.   In fact, 92% of consumers’ initial visit to a brand's website doesn’t lead to a sale, according to “Reimaging Commerce,” a study from Episerver. The study tapped more than 1,100 consumers to learn the importance of relevant and engaging content throughout the purchase journey.  

Retailers’ mobile engagement initiatives are headed in the right direction, but shoppers are still dissatisfied.   According to DMI’s second annual “Mobile In-Store Experience Rankings” report, which assessed mobile experiences among 120 retailers, in-store mobility influences where 74% of the general population and 88% of “mobile reliants” shop.   

Nine West Holdings has entered into an agreement to purchase a 30-years plus women’s apparel company.     Nine West said it has used the net proceeds from the December 2016 sale of its Easy Spirit wholesale business to purchase the Kasper Group. The terms of the transaction were not disclosed.        The Kasper Group's apparel is sold under its flagship Kasper and other well-known brand names.