News

CIT: Electronics, furniture look strong in 2015; mixed outlook for apparel
New York -- The consumer electronics and furniture sectors of the retail industry can look forward to growth in 2015, while the apparel sector faces a more mixed outlook. That was the message sounded by CIT Commercial Services executives during a roundtable discussion, "Everyone Looks Good in the Black: Retailers in the Economic Rebound,” part of the CIT Executive Insights series.

During the discussion, each CIT executive offered their views on the top trends they see ahead in various sectors of the retail market:
Mi Pueblo Foods gets personal with mobile shoppers
San Jose, Calif. - Large format Hispanic grocery chain Mi Pueblo Foods is getting personal with customers on the go. Mi Pueblo is using the CLYP mobile marketing automation platform to establish deep consumer engagement, leading to more extensive insight into customers’ shopping behavior and buying patterns.

Icahn increases investment in EBay

New York – Billionaire activist investor Carl Icahn has increased his investment holding in EBay Inc. In his regulatory filing for fourth quarter 2014, Icahn disclosed that he purchased about 446,000 shares of EBay.
Tractor Supply plows ahead with expansion

Tractor Supply Company is marching ahead with plans for growth in 2015 by opening its 1,400th store.

The Eunice, La., location is scheduled to hold its grand opening celebration on Feb. 21, moving the retailer well past its Dec. 27 reading of 1,382 stores.
Report: Target localizes Target Express assortments

Minneapolis – Target Corp. is reportedly localizing the assortments at its smaller-footprint Target Express stores to a high degree. The Minneapolis-St. Paul Star Tribune reported that since opening its first Target Express in the Dinkytown neighborhood of Minnesota in summer 2014, the discounter has carefully considered local customer demographics when stocking shelves.
Target localizing its Express format stores

Target Corp. is reportedly localizing the assortments at its smaller-footprint Target Express stores to a high degree.

The Minneapolis-St. Paul Star Tribune reported that since opening its first Target Express in the Dinkytown neighborhood of Minnesota in summer 2014, the discounter has carefully considered local customer demographics when stocking shelves.
DirectBuy gets into the sweepstakes game

Merrillville, Ind. - Homeowners looking to upgrade their backyard in time for summer can now enter membership-based buying club DirectBuy’s “Backyard Dream-Over” sweepstakes for a chance to win outdoor furniture, appliances, and more. DirectBuy is utilizing gamification techniques by letting consumers play a game on mobile phone, PC or tablet for a chance to win up to 600 sweepstakes entries while learning about DirectBuy.
Tesco names new chairman

British supermarket giant Tesco has named John Allan as chairman, ending a four-month search after Richard Broadbent resigned amid an accounting scandal.

Allan, 66, will join the board and be appointed chairman on March 1, when Broadbent will step down from the board, Tesco said in a statement.

"I'm very pleased to be taking on this role at such a critical moment for the business and look forward to working with the new executive team and the board," Allan said.
Obama administration moves to end West Coast port dispute

Washington, D.C. – The National Retail Federation is welcoming the direct involvement of Labor Secretary Tom Perez in the ongoing dispute between the International Longshore and Warehouse Union (ILWU) and Pacific Maritime Association (PMA).

The Obama administration has dispatched Perez to participate in talks aimed at ending the standoff between West Coast port workers and management which resulted in a four-day shutdown of ports on the U.S. West Coast from Feb. 13-16.
Wolverine eyes expansion, omnichannel initiatives

Leading branded footwear company Wolverine is eyeing 2015 as a year to focus on omnichannel and expansion.

The parent company of Stride-Rite, Merrell and other brands says it is poised to realign its resources to address a fundamental shift in consumer shopping behavior and allow for greater focus on important omnichannel initiatives.