News

Sportsman’s Warehouse breaking private equity bond

A planned secondary stock offering by Sportsman’s Warehouse Holdings means the rapidly expanding outdoor retailer no longer meets the definition of a “controlled company” but the private equity firm that brought the company public last year will still own a huge stake.

Steinmart moves on after SEC investigation

Steinmart didn’t admit wrongdoing and the Securities and Exchange Commission didn’t bring any charges, but concluding a nearly five year old accounting investigation still cost the company $800,000.

An $800,000 fine may not sound like much to retailers with annual sales in the billions, but Steinmart is relatively small, generating sales of $311 million from 269 stores in the second quarter. An $800,000 fine represents 20% of the company’s net income for the period.

Nordstrom expanding its give back brand

An innovative cause marketing initiative involving Nordstrom’s Treasure&Bond brand is being expanded to more merchandise categories, and non-profit beneficiaries couldn’t be happier.

Google unveils new mobile payment service, Android Pay

New York -- Apple Pay will soon have a rival. Google Inc. is launching a successor to Google Wallet called Android Pay, for Android phones running KitKat and above, PC World reported. It will be available in over 700,000 stores, including Macy’s, Bloomingdale’s, and McDonald’s locations.

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Kohl’s kicks up omnichannel efforts; piloting same-day delivery

Kohl’s has been busy on the omnichannel front during 2015, and the retailer is now taking its efforts into high gear.

On Tuesday, the retailer announced several new omnichannel shopping tools, and said it will also pilot same-day delivery in select markets.

RILA urges chip and PIN

The upcoming Oct. 1 deadline for retailers to accept EMV-compliant, chip-based payment cards or face increased fraud liability mandates that retailers read card information stored in chips. However, the mandate does not specify whether the card be further verified by a PIN number or customer signature, and the Retail Industry Leaders Association (RILA) has a clear preference.

Report: Etsy faces major new competitor

Consumers looking for arts and crafts online may soon have a new destination. According to The Street, Amazon.com is readying the launch of Handmade at Amazon, an online marketplace of handcrafted goods that should serve as a major new competitor for Etsy Inc.

Reports of Amazon’s plans for Handmade at Amazon initially surfaced in May, but Amazon is now displaying product and seller pages, although there is no e-commerce functionality yet. An Amazon spokesperson only said “Stay tuned” when asked about a launch date for Handmade at Amazon.

Survey: Customers notify retailers – leave us alone

Marketing experts routinely advise retailers to send customers notifications, such as emails and texts, informing them of discounts or following up on purchases and site visits. But such notifications may be doing more harm than good.

Starbucks mobilizes customers nationwide

DIY chain leads online home appliance retailers