News

Manchester, Conn. -- Bob’s Discount Furniture has leased a 751,966-sq.-ft. warehouse and distribution building in Shorewood, Illinois, as it prepares to expand its growing retail furniture business into the Chicago area.

Bob’s, the 14th-largest U.S. furniture chain, has opened nearly a dozen new stores across the East Coast and Mid-Atlantic regions during the past two years. But this new facility marks its first move into the Midwest.

Chesapeake, Va. – In the latest scene from the continuingly unfolding saga of the battle for Family Dollar, two proxy investment firms have switched their recommendation for Family Dollar shareholders to accept and $8.5 billion bid from Dollar Tree, rather than a $9.1 billion bid from Dollar General. Glass Lewis & Co. and Institutional Shareholder Services (ISS) both cited Dollar Tree’s bid as offering a greater likelihood of success, despite being lower.

Talk about ripping off the Band-Aid. Target Chairman and CEO Brian Cornell moved swiftly and decisively in deciding to exit Canada, however his actions aren’t without precedent.

Big Lots took similar action after it entered Canada and last fall, a month after Cornell took the helm, the prospects of Target’s exist from the market were explored in the third quarter edition of Retailing Today’s Target Supplier News publication. This is that story:

New York -- TGI Fridays Inc., in partnership with Microsoft Corp., is upping its guests’ experience by equipping servers with eight-inch tablets on which they can process orders and payments while at the table and respond promptly to requests. The chain has completed a six-city pilot in Texas and Minnesota, and plans to deploy the tablets in 80 additional restaurants, with more than 2,000 tablets in place by March.

Location analytics solutions provider Esri is helping BJ’s Wholesale Club generate actionable business insights from club location data.

BJ’s use of Esri’s solutions was announced in conjunction with the National Retail Federation’s Big Show in New York. More specifically, BJ’s will use Esri’s location analytics solutions to aid in real estate research strategy and business insight analysis.

Grapevine, Texas - GameStop Corp. reported declining total and same-store sales for the nine-week holiday 2014 period, despite solid growth in new software sales. Total global sales for the holiday period were $2.94 billion, a 6.7% decline compared to the 2013 holiday sales period.

Wearables
In 2015, consumers will inevitably begin to integrate wearable connective technology more into their daily lives. For example, Luxottica Group S.pA. is launching a multiyear R&D collaboration with Intel Corp. to create eyewear infused with smart technology. The ultimate goal is to deliver smart, fashion-forward products that are meaningful and desirable to consumers. The first product from Intel and Luxottica is expected to launch in 2015.

Etsy, an e-marketplace that specializes in crafts and other artsy items, plans to hold an initial public offering as soon as this quarter, according to Bloomberg.

The decade-old company may seek to raise about $300 million, Bloomberg says, and is working with Goldman Sachs and Morgan Stanley.