News

Saks’ NYC flagship valued at $3.7 billion—more than Hudson’s paid for entire company
New York - It appears that Hudson’s Bay Co. got itself quite a deal when it purchased Saks Fifth Avenue in 2013 for the sum of $2.9 billion, including debt. Saks’s signature Fifth Avenue flagship has recently been appraised at an whopping $3.65 billion—significantly more than Hudson’s Bay paid for the entire chain. As much as anything, however, the appraisal reflects the strength of Manhattan’s retail real estate market.
Office Depot using new location-based marketing app Shazam In-Store
AUSTIN, Texas - Office Depot is currently utilizing a new location-based mobile marketing app, Shazom In-Store, in all of its Office Depot and OfficeMax retail store locations throughout the country. The solution combines Shazam, one of the world’s most popular apps, with proprietary technology from Mood Media.

Mac Naughton out at Walmart

The merchandising organization at Walmart is being transformed again following the departure of EVP and Chief Merchandising Officer Duncan Mac Naughton, which triggered several other high level moves.
'60 Minutes' on the next big data breach

Americans’ well-founded apprehension about the security of their personal information received a booster shot of sorts when 60 Minutes aired a disturbing piece about the state of digital security.
And the 10 biggest myths of holiday spending are….

New Canaan, Conn. - Count on Customer Growth Partners president and CEO Craig Johnson to provide a refreshing break from the standard Black Friday forecast. Here’s his take on the top 10 retail-related holiday myths of 2014:
X Team International reports $746 million in 3Q transactional volume

Boston - X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S. and Canada, released third quarter transactional volumes totaling $746 million, bringing its year-to-date transactional volume to more than $2.24 billion.
Foot Locker quickens its pace

Enhanced onmichannel capabilities were among the factors that incoming Foot Locker CEO Dick Johnson cited as contributing to the company’s increase in third quarter profits and same store sales.

Profits for the third quarter climbed to $120 million, or 82 cents per share, compared with profits of $104 million, or 70 cents per share, in the prior-year quarter. Third quarter same store sales increased 6.9% to $1.7 billion this year, compared with sales of $1.6 billion for the prior-year period.
Analysis: Retail Forecast 2015

By Phillip M. Perry New York - Blue skies and cool breezes. That’s the economic forecast as the calendar turns for a new year. Retailers looking to bolster revenues and profits over the next 12 months should benefit from a gradual improvement in the ability and willingness of shoppers to spend.
It’s the blackest Friday ever for Alco

Alco Stores is offering retailers a cautionary holiday tale this Christmas as going-out-of-business sales have begun at the regional discounter’s 198 locations.
Gap misses in Q3; details omnichannel moves

San Francisco – Gap Inc. failed to meet Wall Street expectations for net income and revenue in its third quartet as its namesake brand continues to struggle. The retailer cut its annual forecast as sales at its namesake brand continue to fall, Gap’s net income rose 11% to $351 million from $337 million, helped by lower cost of goods sold and taxes.