News

New York grocer gets Chapter 11 ruling
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.
Study: What grocers satisfy customers the most (and least)?
When it comes to customer experience, not all grocery chains are created equal.

According to the new Customer Quotient (CQ) survey from global customer intelligence agency C Space, Trader Joe’s is the most customer-centric grocer. Conversely, Shaw’s scored the lowest of 27 options.

Specialty chocolate retailer gives customers tasty seamless treat

Purdys Chocolatier, a 74-unit Canadian chain based in Vancouver, British Columbia, has launched a new digital shopping experience.

The company is leveraging the Aptos Digital Commerce platform with integrated Aptos Enterprise Order Management. Purdys operates stores in several Canadian provinces and also operates an e-commerce business throughout North America. The retailer’s new fully responsive website replaces two legacy e-commerce systems, enabling it to support singular commerce and seamless experiences.
CVS Pharmacy opens for business within Washington Target locations

CVS Health on Tuesday announced that the first CVS Pharmacy locations in Target stores are now open in Washington.
Under Armour dives deep into personalization

Under Armour is looking to elevate the shopping experience with unique fitness data.

The retailer has launched UA Shop, a mobile shopping app built on the Under Armour Connected Fitness platform. Integrating data from the company’s proprietary digital fitness community allows UA Shop to provide a deeply personalized experience based on athlete inspiration, workout history and previous purchase history.
NRF: Consumers will remember Dad this year

Anyone who is a dad, or sells products dads like, may be in for a happy Father’s Day.

According to a new survey from the National Retail Federation (NRF) and Prosper Insight and Analytics, consumers say they will spend more than ever on Father’s Day in 2016 (Sunday, June 19). Shoppers are expected to spend an average $125.92 for the holiday, up 9% from the prior year’s $115.57. Total spending is expected to reach $14.3 billion, the highest in the survey’s 13-year history but still below the 2016 Mother’s Day total of $21.4 billion.
Megatrends for retail and commerce

Today’s retailers face significant challenges as online increases its share of wallet, mall-based stores stumble, technology requirements mount, and customer engagement remains elusive for many. The business environment is clearly marked by the need to rationalize store counts, headcount, and product count.

As management faces up to these challenges, they seek purposeful justification of expenditures, higher shareholder returns, and greater customer engagement.
NRF: Keep swipe fee limits in place

The National Retail Federation (NRF) has strong feelings about credit card swipe-fee regulations.

On Tuesday, June 7, the NRF released the following statement after Rep. Jeb Hensarling, chairman of the House Financial Services Committee, announced plans to repeal swipe-fee reform and the Dodd-Frank Wall Street Reform Act.
Michaels beats Street in Q1; shifts CFO

Specialty arts and crafts retailer The Michaels Companies Inc. exceeded Wall Street expectations for profit and sales in a generally strong first quarter of fiscal 2016.

Michaels reported net income of $70.76 million, a 6% increase from $66.74 million the same quarter a year earlier. Improvements in gross profit helped boost net income.
Ralph Lauren restructuring to include shuttering 50 stores

Ralph Lauren Corp. is seeking to rectify what it acknowledges have been operational mistakes with a program of cuts and organizational streamlining it calls “The Way Forward Plan.”