News

April marked the six-month anniversary of the EMV liability shift. After years of discussion and anticipation, that changeover has technically “happened,” but unfortunately, not much good has happened as a result. Even with all the preparation and hype, the payments industry is still playing catch up. Why? Well, it’s a complex picture that requires a bit of history.

One of my favorite times of the year is teaching at the ICSC University of Shopping Centers. I co-teach “Marketing & Social Media: Shopping Centers in the Digital Age” with Tim O’Connell, assistant VP, director of digital marketing and communications, at RPAI. While we present stats, trends and case studies, what energizes me most are the collaborative class discussions on how other shopping centers owners are progressing with their social media efforts.

With the retail environment changing so rapidly today, and technology impacting everything a store does, the role of the chief financial officer has become more important than ever.

When I started recruiting in 1990, the business was much simpler — we hired retail executives based on a linear skillset, and departments operated in individual silos. Today, it is much more complex, as the C-suite works in collaboration to keep up with an increasingly savvy consumer.

So, what then do you look for in a CFO today?

ADA lawsuits against retailers are on the rise — and even though many suits may be without merit, a retailer still has to defend/answer the allegations.

That was the message Joan Stein, one of the nation’s leading authorities on ADA, brought to the SPECS session, “ADA Non-Compliance: Can You Afford It?” at SPECS.

James Rhee is a tech-savvy numbers and operations guy, but the private equity investor-turned retailer relied on more than business smarts and technology to help revive Ashley Stewart. Realizing that the plus-size brand inspired a deep love among its customers, he developed a core strategy of kindness and loyalty, a strategy that recognized Ashley Stewart represented respect, community and joy to its shoppers.

Haverty Furniture Company has been around since the late 19th century, but the specialty furniture retailer has a decidedly 21st-century approach to energy management.

“We want Havertys to be the company everyone wants to come work for,” said Rawson Haverty Jr., senior VP real estate and development, Havertys, during a session at Chain Store Age’s SPECS 2016 Conference, March 13-15, in Dallas.

Environmental stewardship, and thus energy conservation, is on the Atlanta-based furniture retailer’s list of 10 core values, Haverty explained.

At first glance, hardware cooperative Ace Hardware Corp. and video game chain GameStop Corp. are two retailers with little in common. However, both are leveraging their physical stores as fulfillment points for omnichannel purchases.

Ace is the place with in-store pickup

Oak Brook, Illinois-based Ace Hardware Corp. operates more than 4,400 stores and a distribution network of 14 retail support centers (RSCs) across the U.S. The company leverages this physical footprint to help meet the needs of online shoppers.

Rising expenses resulted in an increased net loss at Tuesday Morning Corp. during the third quarter of fiscal 2016, despite positive sales results.

Dallas-based Tuesday Morning reported a net loss of $5.24 million, close to double the $2.8 million loss it posted during the third quarter of the previous fiscal year. On the plus side, net sales rose 11% to $211.38 million from $189.73 million. Same-store sales grew 13.4%, largely driven by an increase in customer transactions.