News

This is what grocery shoppers value the most
Fresh produce comes out on top as the most important feature to customers in their grocery store experience. That’s according to a new report by Acosta, a full-service sales and marketing agency in the CPG Industry, in which fresh produce (89%) ranked as a more important feature than competitive pricing (86%) and product selection (84%).
King of Prussia Mall opens 155,000-sq.-ft. wing
Simon has opened the doors on a new 155,000-sq.-ft. wing at its King of Prussia Mall that connects the five-anchor Plaza and two-anchor Court. The Pennsylvania mega-mall’s footprint now encompasses 2.9 million sq. ft. Longtime tenants Burberry, Hermes, Louis Vuitton, and Tiffany relocated to the new addition. Some 50 new stores will populate the space, led by high-fashion and luxury brands such as Calligaris, David Yurman, Jimmy Choo, CH Caroline Herrera, and Diane von Furstenberg.

Survey: Hispanics rely on phones to make back-to-school choices

Three-quarters of Hispanic shoppers in the U.S. will make back-to-school purchase in stores, but which ones will be strongly influenced by their mobile marketing offers. A survey of 500 Hispanic consumers conducted by mobile ad platform Retale found nine out of 10 saying they’d be using their smartphones to shop and that their dollars would be put toward the best deals.
Apple makes it 10 in New York City

Apple has opened its 10th store in New York City, inside the shopping area at the new World Trade Center Transportation hub in lower Manhattan. The store draws inspiration from the surrounding structure, which was designed by Santiago Calatrava, to create a seamless space. The interior design is fairly standard for Apple, with the exception of a huge video wall and seating area.
CVS Pharmacy commits $100,000 to Baton Rouge relief efforts

CVS Health and the CVS Health Foundation on Thursday announced a $100,000 donation in cash and in-kind support to organizations providing relief efforts to flood victims in central Louisiana, including the Salvation Army USA Southern Territory and the American Red Cross.
American Apparel saga continues with reports that it’s looking for buyer

It appears that American Apparel may be looking to start a new chapter. The retailer, which emerged from Chapter 11 bankruptcy protection some six months ago, is now said to be looking for a buyer, Women’s Wear Daily reported. Click here to read more.
Report: Macy’s upcoming store closures turns up heat on debt

Macy’s recently announced plans to close some 100 stores could do more than leave developers looking for a new anchor. Nearly $30 billion of bonds backed by commercial mortgages are exposed to the retailer, reported Bloomberg, citing a note by Morningstar Credit Ratings. And more than $3.6 billion in loans would be affected by the closing of 28 stores that Morningstar identified as being most at risk, the report said.
Post-online jobs report: 1.2 million fewer retail workers

If online retail didn’t exist, 1.2 million more people would be working in the retail industry. Online productivity is that much higher, according to J.P. Morgan Chief U.S. Economist Michael Feroli. He told MarketWatch that revenue per online employee is four times greater than the brick-and-mortar variety: $1,267,000 to $279,000.
Department store retailer narrows loss

The Bon-Ton Stores reduced its loss in the second quarter amid fewer markdowns and inventory controls, but sales fell as mall traffic remained soft. The retailer posted a loss of $38.7 million in the quarter ended July 30, compared with a net loss of $39.6 million in the year-ago period. Total sales fell 2.4% to $542.4 million, compared with $555.4 million last year. Same-store sales were down 2.0%.
Cole Haan, One World Trade Center, Manhattan

Cole Haan has opened a global flagship at the just-opened Westfield World Trade Center in lower Manhattan. And the retailer is making it easy for shoppers to get there by linking up with Uber.