News

How to Attract More In-Store Sales
Online shopping is great. It saves time, provides tons of options in one place, and the customer doesn’t have to navigate swarms of people to checkout. Younger generations value this, and are moving the majority of their shopping online. But that doesn’t mean retailers can’t pull customers back to their brick-and-mortar stores. Here are four recommendations to entice customers back into your stores: 1. Attentive Customer Service
Bass Pro Shops to acquire rival in $5.5 billion deal
Bass Pro Shops has agreed to acquire Cabela’s in a deal that will allow the privately held Bass Pro to nearly double its store count. Bass Pro plans to purchase Cabela’s for about $65.50 a share in cash, which represents a 19% premium over Friday’s closing price. The agreement will create an outdoor retail powerhouse that specializes in fishing, hunting and boating merchandise. Both companies are known for their elaborate, wilderness-themed store interiors.

Bonobos takes Madison Avenue space

Bonobos opened its fifth Manhattan store this week on Madison Avenue, surrounded by neighbors that include Porsche Design, Tourneau, Dino Baldini, and Lladro. Called the Bonobos Guideshop NYC, the store inhabits a 1,725-sq.-ft. ground floor space with all-glass frontage on the southwest corner of 52nd Street in the shadow of St. Patrick’s Cathedral. The deal was brokered by RKF.
Teen apparel retailer ousts longtime CEO; taps Target exec as head merchant

Rue 21 announced a series of leadership changes as it looks to reinvigorate its brand. In a surprise announcement on Saturday, the retailer said it had appointed CFO Keith McDonough as interim CEO, succeeding Bob Fisch, who has served as president and chief executive of Rue 21 since 2001.
Starbucks, South Side of Chicago
Sporting goods retailer makes executive moves

Big 5 Sporting Goods Corp. is losing a 46-year company veteran. The retailer announced the retirement of Richard A. Johnson as executive VP. As part of the transition following Johnson’s retirement, Michael P. Marrone is being promoted to senior VP of store operations. Marrone began his career with Big 5 in 1973 as a store sales associate. He held numerous leadership roles of increasing responsibility at the company, and was named VP of store operations in 2002.
Fitch: Sears, Claire’s among chains at risk for bankruptcy

In its new study of retail bankruptcies, Fitch Ratings identified seven retailers as being “at risk” for filing bankruptcy in the next year to 24 months.
Pier 1 prepares for new fulfillment options

Eyeing a strong holiday season, Pier 1 is working on a new fulfillment strategy to meet omnichannel shopper demand. As the home decor retailer continues to focus on how to enhance its digi-tal channel, Pier 1 is turning its attention to drop-ship capabilities. By working with third-party suppliers, the chain will be able to augment its assortment, and “test new categories with much less risk using vendor-owned inventory,” Alexander Smith said during the company’s earnings call on Wednesday.
RILA, ICSC in partnership to improve energy efficiency in leased spaces

Three groups have joined together to empower commercial building landlords and tenants to improve energy efficiency in leased space and reap up to $5 billion in annual energy savings. The Retail Industry Leaders Association (RILA), the International Council of Shopping Centers (ICSC), and the Institute for Market Transformation (IMT) are launching a coordinated national effort, called the Landlord-Tenant Energy Partnership, to reduce energy use across billions of square feet of leased space.
.shopping domain is open for business

There is a new identity option for retailers eager to stand out in a competitive digital landscape. The introduction of the 'dot-shopping' (.shopping) domain provides retailers with another way to brand themselves online. Launched by domain name provider Donuts Inc., the new digital names, also called "not-com" domains, can be used as a brand’s main e-commerce name. It can also point shoppers to a company’s existing online shopping web site, or a marketing or promotional site.