News

Children’s Place to repurchase shares, affirms guidance
Secaucus, N.J. – The Children’s Place Inc. has authorized a new $100 million share repurchase, with the goal of returning excess capital to shareholders. During the past five years, Children’s Place has returned more than $487 million to our shareholders through share repurchases and dividends.
Retail Link insights from Walmart’s top techie
Hers may not be a household name among Walmart suppliers, but few of the retailer’s executives have as much of an impact on the daily lives of trading partners as Suja Chandrasekaran.

As Senior Vice President and Chief Technology Officer at Walmart, Chandrasekaran leads the technology and data transformation underway at Walmart that is referred to as Retail Link 2.0. The information sharing system known as Retail Link was pioneered by Walmart more than two decades ago and today is used extensively by suppliers for all manner of supply chain applications.

Barnes & Noble holiday Nook sales plummet

New York – Barnes & Noble Inc. saw a sharp decline in holiday sales in its Nook e-reader division, even as its retail segment showed small improvement. The Nook segment (including digital content, devices and accessories), had sales of $56 million for the nine-week holiday period, decreasing 55% as compared to a year ago.
REI veteran is new Bartell Drugs president

Bartell Drugs has selected former REI executive Brian Unmacht as its new president.

Prior to joining the 63-store pharmacy retailer, Unmacht served as REI’s EVP and CEO. He has served as a member of Bartell Drugs’ board of directors since 2011.

Bartell Drugs’ chairman and CEO George D. Bartell said that filling the position at the family-owned company supports future succession plans as it celebrates its 125th anniversary in 2015. Bartell Drugs is the oldest and largest family-owned drug store chain in the United States.
J.C. Penney to close 40 stores

Plano, Texas – It will not be a happy New Year for employees of some 40 J.C. Penney stores. The company on Thursday said that it plans to close approximately 40 stores, which represent less than 4% of its total store base, on or about April 4, 2015. The closures will affect about 2,250 employees.
Target aims for a baby boom

Target is stepping up its efforts to attract new parents to its stores with a new partnership, educational classes and a social media campaign.

Bump Club and Beyond, the nation's largest social event network for new moms, is partnering with Target to present a national series of events designed to help expectant and new parents learn the "basics" of bringing up baby.
Target enjoys many digital returns for holidays

Minneapolis – Target Corp. enjoyed many digital returns during the 2014 holiday season, as the retailer broke seasonal digital sales records. Target.com sales on the all-important Black Friday and Cyber Monday shopping days were up 40% from 2013.
Pier 1 pops in December

Momentum from Black Friday weekend continued through the holidays for Pier 1 Imports Inc.

The home furnishings retailer, which reported a disappointing third quarter in early November, reported an 8.2% increase in December same store sales. CEO Alex Smith said while sales in the third quarter were soft, November sales were strong versus a year ago, particularly over Thanksgiving weekend.
Big moves at Macy’s

Macy’s announced a series of major operational and merchandising moves to accelerate its omnichannel approach while also releasing solid holiday sales.
Retail Performance Pulse report shows holiday traffic decline

San Jose, Calif. -- Despite some surprising showings over the holiday 2014 shopping season, a report by RetailNext said that overall traffic at brick-and-mortar stores dipped 7.1% for the Nov. 30-Jan. 3 shopping period.

The newly released Retail Performance Pulse also showed a 6.5% year-over-year decrease in sales.