News

CommerceHub, a distributed commerce network for retailers and brands, is expanding its existing partnership with Walmart, integrating directly with Walmart’s online third-party marketplace.   Under the new agreement, CommerceHub’s network of approximately 9,500 customers, including many of the largest retailers, marketplaces and brands in North America, will be able to team up with Walmart.com.    

Sears Holdings Corp. swung to a loss amid declining sales in the second quarter, and chairman and CEO Eddie Lampert stepped in with more financing for his embattled company.   Sears said it had accepted a $300 million debt-financing offer from Lampert’s hedge fund, ESL Investments Inc. The loan is secured by a junior lien against Sears's inventory, receivables and other working capital.  

Update on retail’s most important time of the year

It’s no secret that online shopping and changing consumer preferences continue to impact physical retail traffic. Despite the shifting landscape, retail sales remain largely intact and, more importantly, are expected to increase year-over-year this holiday season.

November and December are prime time for physical retailers.

The Michaels Companies, named Denise Paulonis as executive VP – CFO, effective Aug. 29. The appointment is part of the retailer’s previously announced CFO succession plan.   Paulonis, currently senior VP – finance, succeeds Chuck Sonsteby, vice chairman and CFO. He will continue to serve as vice chairman and will retain executive responsibility for the growth and integration of Lamrite West and the management of Aaron Brothers stores.    

Chain Store Age recently sat down with Stefan Weitz, chief product and strategy officer of omnichannel commerce and service provider Radial (formerly eBay Enterprise), to discuss how retailers can offer a seamless experience and have a successful holiday.
    
What is the biggest challenge retailers face when trying to enable omnichannel?

In many cases, it’s thinking they can do omnichannel by themselves.

Neiman Marcus is making it easier for customers to select their sunglasses.      The luxury department store retailer is launching a new technology, called the Sunglass Memory Mirror, in partnership with MemoMi and Luxottica Wholesale NA. The mirror, which is really a digital screen, allows sunglass shoppers to better engage with the product and create shareable shopping experiences.     

Ikea is expanding its renewable energy commitment with state-of-the-art fuel cell technology.

Based on the success of a pilot installation, the Swedish home furnishings retailer plans to install biogas-powered fuel cell systems at four stores in California.

A year ago, Ikea completed installation of a similar project at its location in Emeryville, Calif., one of the company’s two San Francisco-area stores.

Various forms of online sales tax legislation have been introduced in Congress over the past 15 years but none have won passage. And now there is a new proposal.