News

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.
PetSmart debuts new store concept heavy on service
PetSmart is looking to get a bigger share of the more than $60 billion Americans spent on their pets last year. The retailer has opened its first-ever PetSmart Pet Spa, in Oceanside, New York. The new store is aimed at offering an enhanced experience and is intended to test out various ideas for consideration within PetSmart’s network of 1,460 plus stores.

Fred’s names new executive VP, chief merchandising and marketing officer

Fred’s on Tuesday announced its new executive VP and chief merchandising and marketing officer, Mary Lou Gardner. Gardner will be replacing Bryan Pugh, who has resigned from the company, effective immediately.
Tech Guest Viewpoint: Flexible, Agile Networks: The Backbone of Retail Operations

Customer experience remains at the hub of all retail strategies, including technical strategy. Whether it’s global inventory availability, mobile payment or loyalty apps, e-commerce and call center integration, or ubiquitous points-of-sale, infrastructure that uses all assets while integrating suppliers and consumers continues to define a retailer’s network design. Further, in highly competitive retail segments, managing the costs of digital fluidity is not only vital to capturing profitable share; it can also distinguish competitive advantage.
More stores, more sales for Ace Hardware

Boosted by store growth and crisp sales of outdoor living, paint and lawn and garden, Ace Hardware Corporation Tuesday reported second quarter 2016 revenues of $1.4 billion, an i
J.C. Penney announces major initiatives; sees half a billion in profit by 2017

J.C. Penney keeps getting more bullish. The retailer on Thursday outlined an array of new initiatives as part of a three-plan to drive profit and accelerate growth. The company also detailed financial goals, and said it expects to reach nearly half a billion dollars in profit by 2019.
Rite Aid Foundation makes significant contribution to American Red Cross Louisiana Capital Area

The Rite Aid Foundation announced Monday a $50,000 donation to the American Red Cross Louisiana Capital Area to help the victims, families and communities across the greater Baton Rouge area that were affected by the historic rainfall and flooding over the weekend.
Target Q2 earnings fall but top Street; plants red flag for full year

Target Corp. on Wednesday reported second quarter earnings that exceeded Wall Street expectations, but the discounter lowered its guidance for the full year amid declining sales and what it called a “difficult retail environment.” Net income for the quarter was $680 million, or $1.16 cents per share, versus $753 million, or $1.18 per share in the year-ago quarter. Adjusted per-share earnings were $1.23, easily outdistancing analysts’ projections of $1.12.
Teen retailer back in favor

Urban Outfitter Inc. turned in a better-than-expected performance in the second quarter amid increased sales and fewer promotions and markdowns. “Urban has now regained its position as the brand leader for young people,” said Urban Outfitters CEO Richard A. Haynes during the chain’s quarterly conference call.
Hastings Entertainment center in Tennessee is acquired

The Northfield Crossing Shopping Center in Murfreesboro, Tennessee, that featured a Hastings Entertainment store has been purchased by Baker Storey McDonald Properties on behalf of an unnamed client. Terms of the sale were not disclosed. Meanwhile, RCS Real Estate Advisors announced it would be auctioning off 120-plus store leases for the bankrupted music, movie, and video game retailer. The chain’s inventory was purchased by Hilco Merchant Resourses and Gordon Bros. Retail Partners in a Chapter 11 filing.