News

Chief merchandiser of Walmart out
BENTONVILLE, Ark. — The merchandising organization at Walmart is being transformed again following the departure of executive VP and chief merchandising officer Duncan Mac Naughton. His departure, in turn, served as the linchpin for several other high level moves.
Fred’s turns red in Q3, will close 47 stores
Memphis, Tenn. – Fred’s Inc. swung to a net loss of $10.4 million in the third quarter of fiscal 2014, compared to net income of $7.3 million in the same quarter a year earlier. Costs associated with closing five underperforming stores in the third quarter, and an anticipated 47 stores in the fourth quarter, contributed to the loss, which exceeded Wall Street projections.

Ailing Wet Seal in financial review

Foothill Ranch. Calif. - Struggling teen apparel retailer Wet Seal has hired an investment banker and a senior adviser to analyze potential financial alternatives. Similar to other retailers in the teen sector, Wet Seal has faced up stepped-up competition from fast-fashion leaders such as Forever 21 and H&M.
Five Last-Minute Holiday Tips for Online Merchants

By Christopher Birkholm As the official kick-off of the holiday season approaches, your core online holiday campaigns are all wrapped up and ready for holiday shoppers. This year, it is expected that online consumer spending will rise 16% over last year to approximately $60 billion, according to the comScore forecast. Desktop commerce is expected to jump nearly 14% while mobile commerce could see an increase of nearly 25%.
NYC Retail: Top 10 New Stores

It’s been another big year in terms of new store openings in New York City. Here are my top 10 faves:
Why Amazon Can't Be a Third Space ... Yet

When was the last time you heard someone say, without a trace of irony, that a big-box store helped them get through the day?

Twenty-five years ago, Ray Oldenburg published “The Great Good Place: Cafes, Coffee Shops, Community Centers, Beauty Parlors, General Stores, Bars, Hangouts and How They Get You Through the Day.” Oldenburg, an urban sociologist, explained how certain stores were more than just places to shop.
Books-A-Million reports higher Q3 sales

Despite continuing to lose money, Books-A-Million announced higher same store sales for the third quarter.
Streamlining the DC

Optimized centers provide greater flexibility
Tiffany’s same store sales sparkle

Tiffany & Co. reported a better-than-expected increase in same-store sales, mainly due to strong demand for high-end fashion jewelry in North and South America.
Food Is in at Outlets

In the old days, outlet centers either didn’t offer food options or the pickings were pretty lean. In today’s iteration, however, food often takes center stage.

Villa Enterprises, a 50-year-old multi-brand restaurant operator of banners such as Villa Italian Kitchen, Mo’ Burger, South Philly Steak & Fries and Tinta Mexicana, has set the curve with its “Food Hall by Villa” in Simon’s Arizona Mills Shopping Center in Tempe. In a completely transformed, 13,262-sq.-ft. dining space with 14,280 sq. ft.