News

Sears Holdings continues to lose money –- lots of it –- and same store sales declined again during the holidays, but the severity of the company’s losses have diminished, which has Chairman and CEO Edward Lampert believing further improvement is coming as the company transforms to what he calls “a leading integrated membership-focused company.”  

Ann Inc. may be in talks with at least two potential buyers, according to a report this month from Bloomberg.

The $1.6 billion owner of the Ann Taylor and Loft women’s clothing stores said in an October regulatory filing it planned to review strategic options and that it is working with JPMorgan Chase & Co.

Foothill Ranch, Calif. – The Wet Seal Inc. wants customers to have a social online shopping experience. Wet Seal will utilize 3 Tier Logic's Platform3 consumer-to-consumer content marketing and data mining platform to increase the quantity and duration of website visits and the conversion of those visits to generate more e-commerce transactions.

Best Buy is following the lead of Target and other retailers by partnering with a new app called Curbside at some of its stores.

Best Buy has signed a deal with Curbside, which allows shoppers to pick out what they want online. Curbside employees then buy the items and are there to meet shoppers outside the store an hour later. The app was launched by two former Apple engineers who raised $9.5 million to expand the service, which is free to shoppers.

Amazon is expanding its same-day delivery service not just to all of Manhattan, but to other New York City boroughs as well, with unknown implications for the retail industry.

The e-commerce giant won't say, but it will say it has expanded its Prime Now same-day delivery service out of Manhattan for the first time and into select neighborhoods in Brooklyn.

The service allows Amazon Prime subscribers in neighborhoods such as Brooklyn Heights, Fort Greene and Prospect Heights to get free delivery on a limited selection of goods within two hours of ordering.

Seattle -- Nordstrom Inc.’s fourth-quarter net income fell a lower-than-expected 4.9% to $255 million, down from $268 million a year earlier, even as its same-store sales topped expectations. The profit decline came amid higher costs, including those related to tech upgrades and its acquisition of Trunk Club, and increased promotions at Nordstrom Rack.  

In a move that could alter political debate and improve the image of the world's largest retailer, Walmart announced that it will raise the minimum wage of its employees to as much as $10 per hour by 2016. The decision has received mixed reaction.

Here's a sampling of the analysis of Walmart's big announcement.

Washington, D.C. – Regional pizza chain &pizza may not have the recognition or reach of its larger competitors, bur the company is taking a step in that direction with a $10 million investment for growth and expansion. The company plans to leverage the investment, along with the investors' experience in branded consumer retail, for expansion of its stores in key markets.  

Currently, &pizza operates nine locations in the Washington, D.C., metropolitan area, with six more slated to open in the first half of 2015.