News

Saving for retirement is like exercising or eating right. We know we’ll feel better when we do it, but many of us fail to make it a priority. It’s all too easy to put off such matters until tomorrow. But after a string of tomorrows, we’ve lost valuable opportunities that would have benefitted us in the long run.

An organization that has taken the retail world by storm in the past several years just earned another accolade.
 
According to the 2016 BrandZ Top 100 Most Valuable Global Brands ranking released by WPP and Millward Brown, Amazon.com has become the World's Most Valuable Global Retail Brand
 

Dollarama Inc. got fiscal 2017 off to a strong start.

Dollarama Inc. reported sharp increases in profit and revenue during the first quarter of fiscal 2017, and intends to open a net of 60-70 new stores by end of the year.
 
Net earnings soared 28% to $83.2 million from $64.8 million the same quarter a year earlier. Improvement of the gross margin and lower selling, general and administrative (SG&A) expenses as a percentage of sales helped drive net earnings growth.

Shoe shoppers know how individual fit can be, and footwear chain DSW Inc. is trying to be as accommodating as possible.
 
DSW is partnering with 3D footwear printing specialist Feetz to create custom fit, sustainably made shoes. Feetz uses a combination of 3D printer technology and human craftspeople to make new pairs of shoes in hours and designed software to custom fit shoe designs to consumers’ feet.
 

Target is reportedly requesting that many of its suppliers assume up to 3% to 5% more of the cost of promotions and price reductions on some items.

According to Reuters, at least 12 Target suppliers have confirmed they were asked to pay for more of the promotional cost for a variety of slow-moving products. Target reported declining sales in its most recent fiscal quarter and publicly said it would likely enter an extended promotional period.

Another day, another finance chief at a well-known retailer is leaving.

Jane Hamilton Nielsen, CFO at Coach Inc., will be departing the company to pursue another opportunity. In order to facilitate a smooth transition, Nielsen is expected to stay into August 2016. The company is commencing a search for her permanent successor with Crist Kolder Associates. Andrea Shaw Resnick, global head of investor relations and corporate communications, will be appointed interim CFO until a permanent appointment is made.

Jo-Ann Fabric and Craft Stores is promoting Chris DiTullio to senior VP, marketing and omnichannel.

While at Jo-Ann, DiTullio has served as interim senior VP, marketing; VP, e-commerce and omnichannel; VP, marketing and advertising; VP, inventory management; and director, merchandise planning.

Fairway Group Holdings Corp., the parent company of Fairway Market, has received a verdict on its May 2016 bankruptcy filing.

The iconic New York food retailer had its Chapter 11 bankruptcy reorganization plan unanimously accepted by 100% of voting secured lenders and confirmed by Bankruptcy Judge Michael E. Wiles. Fairway is expected to emerge from bankruptcy during the week of June 20, 2016 with approximately $50 million in cash, a $140 million reduction of its debt and a reduction of annual debt service obligations by up to $8 million.