News

SEC to allow Wal-Mart vote on independent chairman shareholder proposal
New York -- The Securities and Exchange Commission (SEC) rejected a request by Wal-Mart Stores to prevent shareholders from voting on a proposal to elect an independent board chairman at the retailer’s annual meeting in June.

Wal-Mart had argued that the proposal, which was submitted by the International Brotherhood of Teamsters General Fund, should be omitted because it was vague in its standard of independence, according to Reuters. But the SEC rejected the argument.
NRF puts Easter spending at $16.4 billion
Washington, D.C. -- The average person celebrating Easter this year will spend $140.62, slightly more than last year’s $137.46, according to the National Retail Federation’s Easter Spending Survey conducted by Prosper Insights & Analytics. Total spending for Easter is expected to reach $16.4 billion.

Lowe’s approves $5 billion stock repurchase program

New York -- A surging housing market is giving Lowe’s Cos. a feeling optimistic, to the tune of $5 billion.

The company’s board of directors announced that it has authorized a new repurchase program of $5 billion of the company's common stock. This new repurchase program has no expiration date and adds to the previous program's balance, which was $2.4 billion as of Jan. 30.
Lowe's board approves new $5 billion share buyback program

The resurgence of the housing market has Lowe’s feeling optimistic, to the tune of $5 billion.

The company’s board of directors announced that it has authorized a new repurchase program of $5 billion of the company's common stock. This new repurchase program has no expiration date and adds to the previous program's balance, which was $2.4 billion as of Jan. 30.
Sportsman's Warehouse celebrates the ladies

Sportsman's Warehouse is trying to increase its appeal among women with a promotion aimed at outdoorsy ladies.

The retailer plans to host its 5th annual Ladies' Night on March 26. The company says the event will celebrate the growing number of women who regularly participate, or are just becoming involved in, outdoor sports such as hunting, fishing, camping and shooting.
Sears, Craftsman tool up for 2015 giveaway

Sears and Craftsman have kicked off their second annual “MAKEcation” promotion with a sweepstakes that sends the winner to an event this fall in Brooklyn.

From now through July 31, Craftsman Club and Shop Your Way members can enter for a chance to win a trip to this experience by visiting www.craftsman.com/makecation.
Kirkland’s makes assortment planning change

The 330-unit specialty retailer Kirkland’s is looking to grow sales following a dramatic upgrade to its assortment planning process.

The company switched from a manual system running on Microsoft Excel to Oracle’s portfolio of assortment, financial, location and item planning solutions. Kirkland’s work with Veltio, the leading consultancy in the design, implementation and tuning of Oracle planning and optimization solutions for the retail industry.
Survey: Americans will hop to spend $16.4B this Easter

Most Americans plan to stock up on food and clothing for the Easter holiday, according to the National Retail Federation.

NRF’s Easter Spending Survey conducted by Prosper Insights & Analytics reports that the average person celebrating Easter will spend $140.62, slightly more than last year’s $137.46. Total spending for Easter, which includes purchases of apparel, decorations, gifts, candy, food, flowers and more, is expected to reach $16.4 billion.
REI's ascent continues, membership surges

Outdoor retailer REI reached new heights in 2014 thanks to unprecedented membership growth which fueled a 4.2% same store sales increase and a record financial performance.

The same store sales increased and addition of seven new stores helped the company increase total sales 9.9% to $2.2 billion. The company ended the year with 5.5 million active members, 945,000 of whom joined the retail cooperative in 2014.
Omnichannel inversion: When clicks meet bricks

Digital-first doesn’t mean digital-only. At least not anymore. Some brands have already embraced that lesson in a bold way, and many others are taking notice.
4 things every retailer needs to know about mobile

The rapid changes in the digital and mobile world are radically affecting consumer behavior, disrupting traditional means of retailer/consumer interaction and influencing buying behavior and payment options in an unprecendented way.

Capitalizing on these technological innovations means keeping a close eye on the ways in which innovations in technology are turning the retail world upside down. There is no better way to do this than attend Mobile World Congress.
Report: Wal-Mart in $10 million settlement with family of comedian killed in highway crash

New York -- Wal-Mart Stores has reached a settlement with the two children of James McNair, the comedian who was killed in the highway accident that also seriously injured comic and former “Saturday Night Live” performer Tracy Morgan, the Associated Press reported.

Citing documents filed in New York's Westchester County, the AP reported the children were awarded a total of $10 million. The deadly crash occurred on June 7, 2014, on the New Jersey Turnpike.