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3 Experiences That Will Get (and Keep) Customers In-Store
April 24, 2017 at 11:29 am

Today's retail landscape begs for more than just affordably priced products and lightening-fast shipping. The modern customer requires more in-depth forethought from brands to win his or her business. For brick-and-mortar retailers especially, the battle to stay competitive with their digital counterparts comes along with the demand to deliver or exceed customer expectations — i.e., to…

Bebe to Shutter All Stores by May 9
April 24, 2017 at 10:52 am

Fashion retailer Bebe is planning to close all of its 175 stores by May 9, according to a regulatory brief filed by the company on Friday. The retail chain had previously said it was committed to closing 21 locations, which represented roughly 12 percent of its total outlets. This news came as Bebe explained it was in the…

Jimmy Choo Up for Sale
April 24, 2017 at 10:36 am

British fashion chain Jimmy Choo said Monday that it had put itself up for sale, saying it would consider "various strategic options," including a sale of the company. Jimmy Choo's largest shareholder, JAB Luxury, which owns 66.7 percent of the company's shares, said it "is supportive of this process." The seller of high-end shoes, handbags…

CVS Health to Renovate Stores
April 21, 2017 at 12:07 pm

Three years after abolishing tobacco sales, CVS Health, the nation’s largest drugstore chain, said earlier this week it plans to accelerate a store renovation project that devotes more floor space to nutritious food and health products. CVS Health executives said that at several hundred stores they would reorient 100 feet of aisle space toward products such…

Ikea Mulls Opening its Own Restaurants
April 21, 2017 at 11:07 am

Sweden-based furniture retailer Ikea is considering opening standalone restaurants in city centers, Fast Company recently reported. Despite specializing in furniture, Ikea stores that dish out Swedish specialties such as meatballs, smoked salmon and lingonberry juice have become a key reason customers visit the superstores. Ikea notes that 30 percent of its store customers are there just for the food.…

The Retail Store Isn't Dead Yet
April 20, 2017 at 10:48 am

Over the last couple of decades, e-commerce has changed the retail game by bringing the "store" to the internet. We have now entered a phase where the next game-changing opportunity for retailers is to bring the "internet" to the store. According to a recent Pew Research Center report, if given a choice, 64 percent of…

rue21 Closing 400 Stores
April 18, 2017 at 10:23 am

Teen apparel retailer rue21 announced last week that it's closing 400 of its 1,200 stores around the country. On Saturday afternoon, the company posted a note on its Facebook page confirming that it’s trimming its brick-and-mortar locations. “It’s true — we are closing some stores,” the post said. “It was a difficult but necessary decision. But…

J.C. Penney Postponing Liquidation Sales, Store Closings
April 14, 2017 at 9:22 am

J.C. Penney has postponed liquidation sales and closure dates for the 138 stores it planned to shutter this year because shoppers are actually coming to the stores. "Ever since the company announced its store closure list, those stores have seen better-than-expected sales and traffic," J.C. Penney spokeswoman Daphne Avila told CNBC. "This isn't an uncommon…

Pier 1 to Close 25 Stores Over Next Year
April 14, 2017 at 9:19 am

Pier 1 Imports has plans to close up to 25 stores over the next year. During the company’s earnings call this week, executives reported net sales decreasing 3.4 percent for the full year, as well as the average number of stores declining 3 percent. Pier 1 operates more than 1,000 stores, and closed four of…

Gymboree Preparing to File for Bankruptcy
April 12, 2017 at 10:03 am

Gymboree Corp. is said to be preparing to file for bankruptcy as it faces an upcoming interest payment on its debt on June 1. Bloomberg reports that the Bain Capital-controlled company is seeking to reorganize its debt load and may transfer control to its lenders, including Searchlight Capital, Brigade Capital Management and Oppenheimer Holdings. The children’s…

HHGregg Closing All Stores, Liquidating Inventory
April 11, 2017 at 10:44 am

HHGregg has begun liquidating its assets after failing to find a buyer by its deadline last Friday. The company expects to close all of its 220 stores by the end of May, resulting in about 5,000 layoffs across the U.S. HHGregg CEO Bob Riesbeck in a statement said the company has "continued to fight for the…

Payless Files for Bankruptcy, Will Close 400 Stores Immediately
April 5, 2017 at 10:26 am

Payless ShoeSource filed for Chapter 11 bankruptcy protection on Tuesday, saying it needed to shore up its balance sheet in order to position itself for long-term survival in an increasingly tough retail landscape. The discount shoe retailer plans to immediately close 400 stores in the U.S. and Puerto Rico, and will also "aggressively manage" the rest of its real estate…

H&M Launches New Brand, Arket
March 31, 2017 at 1:25 pm

Fast-fashion giant H&M is launching a new retail brand called Arket. The retailer will be a “modern-day market that will offer essential products for men, women, children and home,” according to the company. It will sell Arket’s own products alongside a selection of products from non-H&M brands. Arket product will be priced slightly higher than that of…

YETI Brings its Brand to Life With Flagship Store
March 30, 2017 at 9:10 am

With reports of store closures dominating the retail headlines in 2017, opening a brick-and-mortar location may seem like a bit of a risky proposition. But YETI, the leading premium cooler and drinkware brand, bucked the trend and opened its first store in Austin, Texas earlier this month. The store is a one-of-a-kind retail environment that…

How Retailers Can Better Engage Millennial Shoppers
March 30, 2017 at 8:57 am

Millennials are a powerful demographic for retailers. Today, there are around 80 million millennials in the U.S., representing 25 percent of the population. Accenture estimates that millennial shoppers’ annual spending will reach $1.4 trillion by 2020. Within a few years, millennials will “truly come into their own” in terms of spending power, accounting for 30…

Sears CEO Buys More Stock in Company
March 29, 2017 at 5:03 pm

Shares of Sears Holdings jumped more than 9 percent on Monday after Chairman and CEO Edward Lampert bought more of the department store's shares. Lampert was already Sears’ largest shareholder, but bought 526,000 additional shares last week, according to a regulatory filing. Lampert's purchase came shortly after Sears acknowledged there was "substantial doubt" it will…

GameStop to Shut Down 150 Stores
March 27, 2017 at 12:21 pm

GameStop is the latest retailer to announce that it will be closing stores this year. USA Today reports the video game retailer had a drop in fourth-quarter sales and announced plans to close at least 150 of its 7,500 stores worldwide. GameStop reported a 13.6 drop in global sales year-over-year. The company cites its recent…

The Black Tux to Open Showrooms in 6 Nordstrom Locations
March 27, 2017 at 11:57 am

Nordstrom is unveiling showrooms for the tux rental startup The Black Tux in six stores over the next six weeks, starting with its Mission Viejo, Calif. location. The partnership could expand more widely if the initial rollout goes well. None of the Nordstrom stores are located in cities where The Black Tux has, or has immediate…