News

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.
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.
Q&A: Wayfair travels ahead of the IT curve

Chain Store Age recently visited Wayfair Next, the in-house innovation lab in the Boston headquarters of online home furnishings retailer Wayfair Inc.

Steven Conine, co-founder of Wayfair and Mike Festa, director of Wayfair Next, discussed the lab’s mission and the importance of innovation in retail.
Ross nears 200 dd’s Discounts locations

Ross Stores will open eight new dd’s Discounts stores in the coming week, bringing the coverage of its moderately priced apparel chain to near 190 units. Ribbons will be cut at stores in Delano, Fairfield, and Stockton, California; Margate and Palm Springs, Florida; Marrero, Louisiana; and Pasadena, Texas.
Simon Completes Philadelphia Mills Renovation

The renovation of Philadelphia Mills, that city’s largest outlet shopping center, is now complete according to owner Simon. New entrances, lighting, flooring, and dining pavilion highlight the project, which was begun in 2014. The renovation attracted several new retailers to the location, among them Express Factory, Rack Room Shoes, Steve Madden, and Starbucks. Longtime tenants such as Saks Off 5th, HomeGoods, and Marshalls followed Simon’s lead with store re-dos of their own.
Nimble small- to mid-level retailers steal share from larger, traditional chains

Think online is the biggest challenge traditional retailers face? Think again.
PetSmart revs up store expansion

The nation’s largest specialty pet supplies retailer is upping its store growth this year. PetSmart said it expects to open approximately 80 net new stores in fiscal 2016, up from 50 locations in fiscal 2015. PetSmart is on its way to meeting its goal, having opened 12 net new stores in the United States and Canada during the quarter ended May 1, 2016. The new locations average over 12,000 sq. ft., and include service offerings such as grooming and pet training.
Israeli start-up targets Amazon Dash

The IoT-based home shopping landscape is getting a little more crowded.