News

Belk still expanding despite sale rumors
At a time when the future of the company is unclear, Belk Inc. is reportedly building another flagship store.

Rouse Properties Inc. announced it has signed a lease with Belk Inc. to open a new 237,000 square foot flagship store at The Shoppes at Bel Air in Mobile, Ala. Belk will be taking the place of an existing Sears, and expanding on its already integral presence at The Shoppes at Bel Air.
PayPal up in first trading day, has big plans
San Jose, Calif. – PayPal Inc.’s first day of trading as an independent public company on the Nasdaq stock exchange was a good one. The digital payment platform closed at a price of $40.47 on Monday, July 20, up 5% from the opening price of $38.39.

In 2014, when it operated as a division of eBay Inc., PayPal processed $235 billion in total payment volume and generated more than $8 billion in revenues. The company serves more than 169 million active customer accounts in 203 markets around the world.

Publix offers biometric screenings

Publix Pharmacy has announced that it is offering biometric screenings at the company’s more than 970 pharmacy locations.
BucketFeet seeks better store understanding with RetailNext

Chicago – Specialty footwear retailer BucketFeet, which launched online in 2011 and entered the world of brick-and-mortar retailing with its first stores (called “studios” in 2013), is seeking to better understand studio shoppers. BucketFeet is partnering with store analytics provider RetailNext to help extend its brick-and-mortar service and shopper experience capabilities.
Dunkin’ Donuts creates summer soundtrack

Canton, Mass. - Dunkin' Donuts is partnering with Spotify to celebrate summer musically. The campaign kicks off July 21 with a summer concert series that will span five cities, featuring five different emerging artists at pop-up concerts in high-traffic public areas.

The first show, today in Philadelphia, features Marian Hill. Additional artists to be determined will perform in Miami, Chicago, New York and Boston throughout the coming weeks.
Jet rolling on $20 billion runway

Boasting a proprietary dynamic pricing algorithm, the new online shopping club Jet.com officially launched on July 21 with plans to reach a lofty sales milestone faster than other retailer.
Simon says yes to light-based data collection

New York – Simon Venture Group, the corporate investment arm of Simon Property Group, is among the companies saying yes to light-based data collection. Simon participated in a private funding round of $36 million led by Cisco Investments and including Acuity Brands and GE Ventures, for Sunnyvale, California-based Sensity Systems Inc.
Wolverine Worldwide to close 120 stores as profit dips 8.7%

Wolverine Worldwide reported profit declines for the second quarter as the retailer shaved the number of stores it plans to close to 120.
Alibaba offers new assurance on supplier reliability

Hangzhou, China - Alibaba.com is moving to put concerns about the reliability of its suppliers to rest. The global e-commerce platform is upgrading its trade assurance program to give small-to-mid-sized businesses peace of mind when buying from overseas suppliers.
Bankrupt A&P receives financing, bids; will close 25 stores

Montvale, N.J. – So far, chapter 11 bankruptcy appears to be going as planned for The Great Atlantic & Pacific Tea Company (A&P). A&P has received approval for financing from the U.S. Bankruptcy Court of the Southern District of New York, bids for some stores, and will close 25 stores in the near term due to “lack of interest” and ongoing losses.