News

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.

House votes to delay overtime pay rule

The House of Representatives has passed a bill that would delay by six months the effective start date of the Department of Labor's (DOL's) new overtime regulations. The new rule will require employers to pay overtime to salaried workers earning less than $47,500 a year, double the current threshold of $23,660. Five House Democrats joined 241 Republicans to support moving the rule's effective date from Dec. 1 to June 1.
Target hopes to boost innovation through start-up pitches

Creating an innovative customer experience is top of mind for Target. Now it needs the right solutions. As a result, Target launched a new website that invites start-up companies to pitch ideas for new technology platforms that will help the big-box retailer enhance the customer experience in its stores and through its digital channels, according to an article in the Minneapolis Star Tribune.
Hiring for the Holidays: What Retailers Need to Succeed

With the holidays right around the corner, retailers are already setting up for the biggest shopping season of the year. This year, retail revenue for the holidays is expected to surpass $1 trillion, compared to last year’s total of $626.1 billion. One of the many holiday preparations brands are making to deal with this influx is bulking up in-store resources. At least 700,000 short-term retail jobs are assumed to be added across the U.S. this holiday season, helping brands fill gaps in-stores and on the back-end.
Home improvement giant honored by EPA

The U.S. Environmental Protection Agency recognized The Home Depot for its eco-friendly freight transportation efforts. The chain received a 2016 SmartWay Excellence Award for the fourth consecutive year for its contributions to cleaner, healthier air and reducing carbon emissions by hauling all freight with environmentally and energy efficient carriers.
Costco Q4 profit tops Street

Costco Wholesale Corp. reported a higher-than-expected profit for the fourth quarter. In related news, shoppers opened 730,000 new credit card accounts since the Visa cards went live in June, Costco executives said on a conference call with analysts. (In June, Costco ended its longstanding relationship with American Express and switched to Visa.) Net income rose to $779 million, or $1.77 per share, in the fourth quarter ended Aug. 28, from $767 million, or $1.73 per share, a year earlier.
Tech Bytes: Three steps to creating a ‘mobile’ pop-up

The signs of fall are definitely upon us. The weather is finally dropping into the 70s on the east coast. Summer’s green leaves are slowly transitioning to rich autumn hues. You can’t escape “Pumpkin Spice.” And of course, the biggest sign of fall: Halloween pop-up stores.
Gap veteran fills top marketing spot at Old Navy

Who says you can’t go home again? Certainly not Gap Inc., which appointed Jamie Gersch as the senior VP, chief marketing officer of its Old Navy banner, reported adage.com. She replaces Ivan Wicksteed, who left the company in March. She will come aboard at the end of October.
Pier 1 sales drop for Q2

Despite strong digital gains, Pier 1 is feeling the effect of soft store sales during the summer. Net sales for the second quarter for fiscal 2017, ended Aug. 27, 2016, decreased 6.7% to $405.8 million, compared to $435.0 million for the same period last year. Comparable store sales for the quarter decreased 4.3%. Gross profit also fell during the second quarter, hitting $145.0 million, compared to $154.6 million in the second quarter of fiscal 2016.