News

Amazon inches closer to the top in another category
Watch out Best Buy, the nation’s largest ecommerce retailer is on your tail. According to a report by barrons.com, Amazon has moved ahead of Walmart to take the number two spot, behind Best Buy, as the nation’s largest electronics retailer.
No end in sight for The Finish Line
Sports apparel retailer The Finish Line topped Street estimates for its first quarter, turning in a solid performance in a challenging retail environment. The company reported net income of $9.63 million for the period ended May 28, down 29.9% from $13.73 million in the year-ago quarter, amid higher costs. Net sales rose 2.28% to $453.52 million, higher than expected, from $443.39 million in the same quarter last year. Same-store sales increased 1.5%.

Study: Back-to-school forecast looks sunny

Many kids are just starting their summer vacations, but back-to-school shopping is well underway.
Cool technologies at Wayfair Next innovation lab

I recently had the opportunity to visit the Wayfair Next innovation lab at Wayfair’s downtown Boston headquarters. My genial hosts, Wayfair co-founder Steven Conine and Wayfair Next director Mike Festa, explained the lab’s mission and let me demo some very cool technologies.
TechBytes: Cool technologies at Wayfair Next innovation lab

I recently had the opportunity to visit the Wayfair Next innovation lab at Wayfair’s downtown Boston headquarters. My genial hosts, Wayfair co-founder Steven Conine and Wayfair Next director Mike Festa, explained the lab’s mission and let me demo some very cool technologies.
Home goods retailer falls short in Q1

Bed Bath & Beyond Inc.’s first quarter profit declined amid flat sales and increased expenses that cut into its bottom-line. The company’s profit fell to $122.6 million from $158.5 million in the year-ago period, less than analysts had expected. Sales remained flat year-over-year at $2.74 billion, also below estimates. Same-store sales decreased 0.5%.
Decision to close stores becomes more complicated for retailers

Some things are easier said than done. And increasingly, that notion applies to closing stores. Although analysts and investors say that retail companies need to continue to shrink their store portfolios, the decision to do has become increasingly complex for merchants, many of whom have already shed their most unprofitable locations, according to a CNBC report.
Survey: So far, so good for 2016

Retail tenants are not only reporting a strong performance for the year so far, but are also optimistic about the next six months.
Macy’s CEO Terry Lundgren to step down

Macy’s longtime CEO, Terry Lundgren, will step down in the first quarter of 2017, to be succeeded by a company veteran. Lundgren, who has been CEO of the department store giant since 2003, is stepping down as the retailer finds itself challenged with a transformed retail landscape and changing consumer demands. He will be succeeded by Jeff Gennette, 55, who was named president of Macy’s in 2014 after serving as chief merchandising office since 2009.
Bookseller names exec to head up new restaurant group

Barnes & Noble is getting serious about restaurants. The bookseller announced it has promoted Jaime Carey, currently COO, to president of development & restaurant group, effective immediately. Carey will be responsible for overseeing the chain’s real estate development and its newly created restaurant group.