News

Fresh Market eyes fresh future under Apollo ownership
The Fresh Market has agreed to be acquired by a private equity firm several months after the retailer said it would initiate a review of strategic alternatives and a possible sale.

The struggling grocery chain said it has entered into an agreement with Apollo Global Management, LLC whereby it will acquire The Fresh Market for approximately $1.36 billion. The Fresh Market has been struggling with declining sales through several quarters, and customers have complained about high prices. Recently it had launched an effort to promote "lower prices."
Report: Nordstrom IT staff cuts go deeper
The technology department at Nordstrom continues getting smaller.

According to Geekwire, Nordstrom has laid off 120 IT employees. The cuts follow 10 technology staff reductions the retailer made at the beginning of March. All the layoffs have been part of an organizational restructuring and leveling of IT spending.

Retailers eye Outback for digital inspiration

Some of the best ideas regarding customer service in the digital age are coming out of the food service world with a recent example involving a new app and loyalty program from Outback Steakhouse.
Rite Aid kicks off annual Children's Miracle Network fundraiser

Rite Aid's 22nd annual Miracle Balloon campaign for Children's Miracle Network Hospitals is now underway, the company announced Monday. From now through April 30, Rite Aid customers can support their local children's hospital by purchasing $1 paper Miracle Balloons at any Rite Aid store.
How retailers can win with omnichannel returns

Customers’ heightened expectations for a seamless experience are creating new profit pressures for retailers, including coping with increased return volumes. Shedding light on the new supply chain challenges associated with executing an omnichannel strategy is a new series of whitepapers from reverse logistics leader Genco. Learn more.
Apollo Global to buy The Fresh Market for $1.4 billion

The Fresh Market has agreed to be acquired by a private equity firm several months after the retailer said it would initiate a review of strategic alternatives and a possible sale.
The Finish Line is mad (and social) about hoops

The “March Madness” college basketball tournament will no doubt a major trending topic on social media for the next few weeks, and sporting goods retailer The Finish Line Inc. is joining the craziness.

The Finish Line is offering customers two opportunities to digitally celebrate March Madness games this year. The retailer is offering a Finish Line Bracket Challenge for its Winner’s Circle loyalty program members with a top prize of $5,000, as well as the #CallYourShot social campaign that will last the duration of the tournament.
Weis Markets posts annual sales increase of 3.6% to $2.9 billion

Weis Markets last week announced that its fourth quarter sales increased 2.8% to $734.1 million while its comparable store sales increased 2.8%, compared to the same period a year ago.
Saks Off 5th comes to Canada too

Less than a month after Hudson’s Bay Company brought Saks Fifth Avenue to Canadian shoppers, the company this month is opening the first of 25 planned Saks Off 5th stores.

Three new Saks Off 5th stores are scheduled to open on March 17 in Vaughan Mills, Halton Hills and Niagara-on-the-Lake, Ontario. The openings will allow Canadians to experience the ultimate "thrill of the hunt" shopping that Saks Off 5th is renowned for, with access to the some of the best brands and fantastic finds, in a fun to shop store format,” according to the company.
Benefits Abound When Brick-and-Mortar Retailers Acquire E-tailers

Earlier this month, DSW announced plans to acquire Ebuys Inc. an off-price footwear and accessories e-tailer. This news follows last month’s reports that Hudson’s Bay (the owner of Saks Fifth Avenue and other department store chains) was acquiring Gilt Group.