News

Walmart expands payment partnership
As the battle between Walmart Canada and Visa over interchange rates rages on, Walmart Stores is making more strategic moves with Chase. Walmart will now process credit and debit payments on ChaseNet, the bank's closed-loop network, across its 5,000-plus Walmart and Sam’s Club locations in the U.S., and on the Sam’s Club e-commerce site. Chase already processes payments for Walmart’s e-commerce channel.
Off-price retailer launches credit card program
Century 21 Department Store is getting into the private label credit card game. The off-price retailer is collaborating with Alliance Data Systems to launch the brand’s first private label credit card. By connecting customized rewards and benefits to the payment card, the retailer expects to drive engagement and brand loyalty.

Canada’s largest Saks Fifth Avenue to open in Montreal — in co-branded location

Hudson’s Bay Company plans to open Canada’s largest Saks Fifth Avenue store, in downtown Montreal. Scheduled to open in fall 2018, the store will be co-located in the same building as Hudson’s Bay, which will undergo a multi-million dollar renovation. The new Saks will take up approximately 200,000 sq. ft. of the existing 650,000-sq.-ft. space.
Yahoo confirms massive data breach rumors

After keeping mum about a potential far-reaching data breach, Yahoo has finally come clean. The search engine company confirmed today that account information for approximately 500 million users was stolen from the company’s network in late 2014.
Dunkin’ Donuts nabs McDonald’s veteran for executive role

A longtime McDonald’s veteran has joined the fast-growing Dunkin’ Donuts. Dunkin' Brands Group, parent company of Dunkin' Donuts and Baskin-Robbins, announced that David Hoffmann has been appointed president of Dunkin' Donuts U.S. and Canada, effective Oc. 3.
Study: Online growth remains modest this holiday season

E-commerce may lose some appeal among shoppers this holiday season. While some industry analysts are predicting more than 15% increases in e-commerce growth during the 2016 shopping season, NetElixir’s “2016 Holiday Outlook” report predicts that e-commerce growth may only hit 11%. This conservative gain is being blamed on earlier-than-usual promotions and purchasing of holiday gifts; retailers’ use of online marketplaces rather than exclusively selling directly on their sites, and the uncertain political environment.
Shakeup at American Apparel: CEO to step down

Photo: Paula Schneider The saga continues at American Apparel. Paula Schneider plans to step down as CEO of the apparel retailer on Oct. 3, according to yahoo.com, which cited a report by Women’s Wear Daily. Schneider will be replaced by the company’s general counsel and chief administrative officer, Chelsea Grayson.
Ikea names contractors and other key players for new Texas location

Ikea has moved closer to breaking ground on its second location in the Dallas-Fort Worth-area store. The home furnishings retailer announced it has hired the contractors to build its store in Grand Prairie, Texas. Groundbreaking for the planned 290,000-sq.-ft. store is expected next month. It’s expected to open in fall 2017. Ikea has chosen Mycon General Contractors, Dallas, to serve as construction manager for the Grand Prairie site work and store development project.
Bed Bath & Beyond misses in Q2

Bed Bath & Beyond Inc. reported second quarter earnings below expectations amid lower sales. But it reaffirmed its profit forecast for the year. The chain earned $167.3 million, or $1.11 a share, in the quarter, compared with $201.7 million, or $1.21 a share, in the year-ago period. Sales inched down 0.2% $2.98 billion, down from $2.99 billion a year ago. Same-store sales fell 1.2%.
Study: Halloween spending breaks glass ceiling

It’s no trick: Halloween spending is at an all-time high. As Americans continue to splurge on their favorite candy and costumes in preparation for the upcoming Halloween season, the National Retail Federation’s annual survey reported that spending is expected to reach $8.4 billion — the highest level in the study’s history.