Search Results

How Technology Will Reinvent the Retail Store Experience
April 24, 2018 at 12:50 pm

The benefits of online shopping are obvious: its speed, ease and convenience drove Q2 2017 e-commerce sales to $111.5 billion, a 16.2 percent increase year-over-year. Still, if given a choice, 64 percent of online shoppers prefer buying from physical outlets — a number that, surprisingly, increases when talking about younger shoppers. Millennials and even Gen…

Walmart Tests New Employee Dress Code at Stores
April 24, 2018 at 9:49 am

Walmart is testing a new dress code that gives employees more freedom in what they can wear on the job. Under the pilot program, which has been rolled out to fewer than 100 stores, workers can wear solid color blue jeans instead of khaki-colored or black denim pants. They also can wear a solid-color shirt of…

Old Navy to Open 60 Stores in 2018
April 24, 2018 at 9:08 am

Discount apparel brand Old Navy will add 60 more stores across the U.S. this year, pushing its total to more than 1,000 locations. Gap Inc., which owns Old Navy as well as the flagship Gap banner, Banana Republic and Athleta, currently operates more than 3,500 stores globally. Meanwhile, Gap Inc. is trimming back its fleet…

Billionaire Toy Maker's Bid to Save Toys"R"Us Stores Rejected
April 19, 2018 at 4:09 pm

Toys“R”Us Inc.’s lawyers and advisers have shot down an 11th-hour offer from a billionaire toy maker that would have kept some of its U.S. stores open, according to a person familiar with the matter. The Wall Street Journal reports that Isaac Larian, founder of Bratz dolls maker MGA Entertainment, Inc., came forward last week with a…

Bon-Ton Appears Headed for Liquidation
April 17, 2018 at 11:21 am

The only two bids at the start of a bankruptcy auction for department store chain Bon-Ton Stores Inc. were from liquidators, signaling the end for the company, according to reports Tuesday morning. Reuters said Bon-Ton will go out of business without a bid from a going-concern bidder. The New York research firm Reorg Research, also…

How to Turn Warranty Offerings From a Checked Box to a Revenue Driver
April 16, 2018 at 10:51 am

If the prospect of offering warranty solutions seems intimidating, you’re not alone. For many retailers, incorporating a warranty pitch into an already tricky sales process may be viewed as a simple check-the-box obligation. The reality is that warranties can offer an additional line of revenue and reduce customer churn, two tremendous assets for any business.…

U.S. Retail Sales Increase 0.6% in March
April 16, 2018 at 10:46 am

U.S. retail sales rebounded in March after three straight monthly declines as households boosted purchases of motor vehicles and other big-ticket items, suggesting consumer spending was heading into the second quarter with momentum. The Commerce Department said on Monday retail sales increased 0.6 percent last month after an unrevised 0.1 percent dip in February. January data…

‘Retaildential’ Spaces Offer New Life to Old Malls
April 13, 2018 at 8:27 am

Imagine for a minute that instead of going to the mall, you lived there. Now, imagine that that mall wasn’t just a parcel of real estate with dozens of national retail chain tenants selling often largely undifferentiated merchandise, but instead was magically transformed into a highly differentiated mixed-use space whose sole mission was to cater…

Sears Selling 16 Stores in Online Auction
April 12, 2018 at 12:52 pm

Sears Holdings is selling 16 of its namesake store locations in an online auction, according to a Wall Street Journal report. The stores, 15 of which are attached to malls, are being marketed as sale and lease-back deals, which will allow Sears to continue operations at the locations while paying rent. The new owners of…

Nordstrom's New Men's Store to Operate 24 Hours a Day
April 10, 2018 at 1:13 pm

Nordstrom is opening a men’s store in New York City this week that will operate 24 hours a day. The retailer is offering a variety of services at the store, including overnight in-store pickup, a self-service return kiosk, shoe shining, and “sneaker cleanings.” The new service-oriented store will cater to the city that never sleeps,…

2 Mall Owners in Bid to Save Bon-Ton From Closing its Stores
April 10, 2018 at 9:56 am

U.S. mall owners Washington Prime Group and Namdar Realty Group will bid together to save department store chain Bon-Ton from liquidation, according to court documents filed Monday that were reviewed by CNBC. Alternative asset manager DW Partners will also be working with them. It was reported last week that the two landlords would attempt to acquire…

Report: Ace Hardware, Dollar Tree Tops in Customer Experience
April 9, 2018 at 12:54 pm

Ace Hardware and Dollar Tree deliver the best customer experience in the retail industry, according to the 2018 Temkin Experience Ratings, an annual customer experience benchmark of companies based on a survey of 10,000 U.S. consumers. Of the 49 retailers included in this year's ratings, Ace Hardware and Dollar Tree tied for the top spot. Each earned a…

Nine West to File for Bankruptcy, Sell Intellectual Property
April 6, 2018 at 1:55 pm

Footwear retailer Nine West is preparing to file for bankruptcy by as early as this week, according to a report Thursday. Aside from the bankruptcy filing, the White Plains, New York, company is planning to sell its intellectual property to Authentic Brands Group, a licensing firm that recently said it would purchase clothing brand Nautica, Reuters…

Workplace Training Brings Competitive Advantage for Retailers
April 4, 2018 at 8:55 am

For the second year in a row, Axonify has released the results of its annual State of Workplace Training Study, conducted in December 2017 by global market research firm Ipsos. The study’s goal was to gain a comprehensive view of workplace training across different industries, including retail, and highlight the importance of providing the right kind of training to drive measurable business results.

Target, Others to Bid on Toys"R"Us Stores
March 30, 2018 at 11:50 am

Several Toys"R"Us stores are scheduled to be auctioned off later this week, according to court documents filed Tuesday that were reviewed by CNBC. Of the 58 "qualified bids" being considered, Target and Aldi both are looking at one location in Kendall, Florida, which is near a handful of college campuses. Big Lots is bidding on five…

Retail Isn’t Dead, Mediocre Retail is Dead
March 30, 2018 at 9:31 am

In a new era of retailing, the context of customer service has been transformed toward the emotional behavior of the shopper. Although many consumers have been changing the way they shop toward a more online-centered experience, brick-and-mortar retailers still have the opportunity to refocus and reimagine to continue to bring customers through their doors. As…

Consumers’ Favorite Fashion Retailers … and How They Got There
March 28, 2018 at 12:08 pm

In today’s retail landscape, brands must work harder than ever to attract and retain customers. No longer is the only competition across the mall, but it’s also lurking in all corners of the internet. Retailers spend good money to market, promote and advertise themselves to lure shoppers in-store, but if the customer experience falls short…

Starbucks Tests New Wi-Fi Sign-Up Process at U.S. Stores
March 26, 2018 at 3:17 pm

Starbucks is testing a new Wi-Fi login process in its U.S. stores, asking customers to provide their email address before connecting, Geekwire has reported. Since rolling out free Wi-Fi in its U.S. stores nearly eight years ago, Starbucks has asked customers to simply accept terms and conditions in order to connect to its public network…

Michaels to Close Nearly All Aaron Brothers Stores
March 23, 2018 at 12:46 pm

Michaels Companies Inc will shut down 94 Aaron Brothers framing and art supplies stores, the largest U.S. crafts retailer said on Thursday. The arts and crafts retailer plans to make Aaron Brothers a store-within-a-store and to provide custom framing in all Michaels stores. Michaels owns and operates about 1,300 stores in the United States and…

The ‘Retail Apocalypse’ is Ragnarök, Not End of Days
March 21, 2018 at 7:15 pm

Every day there are claims made in the media across the world that physical retail is heading toward a final and irreversible apocalypse. And yet, we’re also seeing some of the most innovative and customer-friendly reinterpretation of the retail experience that has ever existed. So clearly, the reports of retail’s total demise have been greatly exaggerated. Rather than…