News

Study: The price may not be right for retailers
Retailers are not feeling confident that their pricing strategies are satisfying consumers.

A new report on pricing conducted by RSR Research and sponsored by retail consulting and analytics firm Precima, “Pricing 2016: Life Becomes Unmanageable,” reveals retailers are worrying that consumers do not believe they are priced competitively enough.
Lululemon founder slams company management, board
Chip Wilson, the founder of Lululemon Athletica Inc., is not one to mince words.

Wilson, the company’s largest shareholder with a 14.2% stake, on Wednesday issued an open letter to investors in which he sharply criticized the apparel retailer’s management, calling its competence “uninspiring at best.” He called for annual election of the board to hold members accountable for Lululemon’s performance.

Focus on New York market boosts Ahold USA Q1 sales

Ahold USA first quarter sales were up 4% to $8.2 billion. Excluding gas, sales increased 4.1% at constant exchange rates. The addition of 25 A&P stores in the New York Metro market in fourth quarter 2015 was the main contributor to the overall sales growth and resulted in an overall market share improvement in both dollars and volume, Ahold reported.
Ascena Retail sales disappoint; cuts guidance

A cold spring helped dampen sales and earnings at one of the nation’s leading apparel companies.

Ascena Retail, whose brands include Ann Taylor, Loft, Lane Bryant, Catherines, Justice and Dressbarn, reported profit of $15 million in the third quarter, ended April 23, down from $24 million in the year-ago period.
Las Vegas shopping center adds digital glitz

Miracle Mile Shops, at Planet Hollywood Resort & Casino in Las Vegas, is targeting customers online in a big way.

The 1.2-mile shopping center has relaunched its site to offer a comprehensive snapshot of its offerings while encouraging visitors to engage on its social media channels. Now optimized for mobile technology, the site lets users search stores, promotions and offerings.
Rite Aid expands supply chain infrastructure in South Carolina

It’s been a long time, but Rite Aid Corp. is opening a new distribution center.

Located in Spartanburg, South Carolina, the facility is the company’s first new distribution center in 16 years. Rite Aid is currently awaiting regulatory approval for a proposed $17.2 billion merger with Walgreens Boots Alliance.
Veteran supermarket retailer dies

The 95-year old co-founder of the North Carolina-based supermarket chain that became Food Lion has died at the age of 95.

Ralph Ketner and two others in 1957 founded Food Town, which changed its name to Food Lion in 1982.
JLL: Retail driving construction growth

First, the good news: A strong retail sector is helping to drive 2016 U.S. construction activity, with retail construction projects up 24.4% year-over-year.

That’s according to JLL’s latest report on non-residential U.S. construction activity. On the less positive side, the report noted there is a cloud of economic uncertainty, which has companies laser-focused on lean budgeting and smart spending decisions.
J.C. Penney refinancing real estate loan

J.C. Penney Co. said Wednesday it is proposing to refinance a $2.25 billion senior secured term loan, and to extend the maturity of the loan, which is currently set at May 2018. The transaction is expected to be complete in June.

Penney also reported positive same-store sales for its quarter-to-date through Memorial Day.
Penney refinancing real estate loan

J.C. Penney Co. said Wednesday it is proposing to refinance a $2.25 billion senior secured term loan, and to extend the maturity of the loan, which is currently set at May 2018. The transaction is expected to be complete in June.

Penney also reported positive same-store sales for its quarter-to-date through Memorial Day.