News

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.
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.

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.
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.”
MinuteClinic comes to Target stores in new state

The CVS/Health-Target partnership continues to grow.

MinuteClinic, the retail medical clinic of CVS Health, has opened eight new locations inside Target stores in Maryland, including six in the Baltimore metropolitan area. The clinics have been rebranded and converted to MinuteClinic. There are now 43 MinuteClinic locations in Maryland, including clinics in select CVS Pharmacy stores.
Massive 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.”
JLL acquires construction-related consulting firm

JLL has broadened its project and development services (PDS) with the acquisition of Merritt & Harris (M&H), a leading provider of construction-related consulting services for real estate lenders and investors during new construction, renovations and workouts.
Hudson’s Bay names new directors

Hudson’s Bay Co. (HBC) shareholders have spoken.

In good news for the Canada-based department store operator, all of the nominees listed in its management information circular dated April 28, 2016 were elected as directors of HBC at the annual meeting of shareholders held Monday, June 6 in Toronto.

The newly-elected directors are:

· Richard A. Baker
· Robert C. Baker
· David G. Leith
· William L. Mack
· Lee Neibart
· Denise Pickett
Walmart shareholders decide on directors, compensation

Senior management of Walmart Stores Inc. should be happy with the results of its 46th annual shareholders meeting held June 3.