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A Few Thoughts From Costco’s Jim Sinegal
November 1, 2017 at 2:31 pm

It’s not often that you get to hear from retail legends like Jim Sinegal, co-founder and director of Costco Wholesale Corp. That’s why I was so excited to attend his talk at SAP’s Retail Executive Forum, which was held in New York City earlier this month. And he didn't disappoint. Sinegal served as the CEO…

The Importance of Purpose: Value and Volunteerism in the Modern Workplace
November 1, 2017 at 2:08 pm

We recently attended a leadership and development conference that focused on several nontraditional learning issues impacting the current workplace. We were impressed with some of the messages and several of the speakers. One in particular, Aaron Hurst, resonated because he spoke of the importance of purpose in a world increasingly hard to make sense of…

Sears Again Taps CEO for Loan
November 1, 2017 at 1:17 pm

Sears has borrowed $60 million from affiliates of its CEO, Edward Lampert. This marks the third time in a month the retailer has asked for financial help. The Chicago Tribune reports Sears Holdings Corp. borrowed $100 million from affiliates of Lampert's hedge fund, ESL Investments, earlier last month. The first draft of $40 million took place…

REI is Again Closing on Black Friday
October 31, 2017 at 10:20 am

For the third straight year, REI will close its stores on Thanksgiving Day and Black Friday. The outdoor apparel and gear retailer will also not be processing any online orders on either day (although shoppers will still be able to make purchases from REI's website). REI will pay its 12,000 employees, including hourly workers, for their…

Reports: CVS in Talks to Buy Aetna
October 30, 2017 at 10:56 am

CVS Health has proposed to buy health insurer Aetna for $200 a share or more, according to news reports. If the deal goes through,  CVS would become the first healthcare triple threat: a pharmacy, a pharmacy benefit manager and an insurer. The Wall Street Journal first reported the proposed deal. Acquiring Aetna would give CVS…

Walgreens to Shutter 600 Stores as Part of Rite Aid Deal
October 27, 2017 at 11:29 am

Walgreens plans to close about 600 drugstores as it completes a $4.38 billion deal to buy nearly 2,000 from rival Rite Aid. Company spokesman Michael Polzin said Wednesday that most of the closings will be Rite Aid stores, and the vast majority will be within a mile of another store in the Walgreens network. The store closings…

Kroger Announces Executive Leadership Changes
October 25, 2017 at 3:29 pm

This week, Kroger Co. announced new leadership changes within its executive leadership branch. Dayton Daily News reports Katie Wolfram, central division president of Kroger, will retire this year. Pam Matthews, currently the QFC division president, will  succeed her. Suzy Monford will join the company to serve as the president of the QFC division. “Both leaders…

Under Armour Co-Founder, Kip Fulks, Takes Sabbatical
October 25, 2017 at 2:26 pm

Kip Fulks, co-founder of Under Armour, is taking a sabbatical, the company announced earlier this week. Fulks is exercising a benefit available to all Under Armour employees with 10 or more years of service, said the company. The Baltimore Sun reports Fulks’ departure is coming at a critical period of transition for Under Armour, which…

Lord & Taylor Flagship Store Sold for $850M
October 25, 2017 at 12:53 pm

Hudson’s Bay Co. (HBC) said yesterday that it's selling its Lord & Taylor flagship store on Fifth Avenue in New York City for $850 million to WeWork Companies, a provider of shared workspace, community and services for entrepreneurs, freelancers, startups and small businesses. HBC is getting an equity investment of $500 million from Rhone Capital,…

Retailer Digital Disruption: Why an Organizational Shift is Needed Now, Part 2
October 25, 2017 at 10:48 am

 Part one of this series, Retailer Digital Disruption: Why an Organizational Shift is Needed Now, was featured in Total Retail's Fall print issue. Below is part two. As difficult as it can be, traditional retailers must re-architect their organizations through the lens of their customer’s complete user experience, embracing a seamless cross-channel point of view…

Want to WOW Your Customers? WOW Your Employees First
October 25, 2017 at 10:36 am

How inspired are your employees every day? Are they excited to serve each other and your customers, and nimble and ready to deal with the curve balls business undoubtedly will provide that day? Or are they not enthused about their work, their peers or their customers? More interested in their smartphones than in engaging with…

Hudson's Bay CEO Gerald Storch Leaving the Company
October 23, 2017 at 10:54 am

Gerald Storch, CEO of Hudson’s Bay Co. (HBC), is stepping down from his role, HBC announced after the close of stock markets on Friday. Storch will depart effective Nov. 1, and return to his firm,  Storch Advisors, HBC said in a press release. It didn't give further details on…

Stitch Fix Files for IPO
October 20, 2017 at 12:32 pm

Stitch Fix, the online personalized styling service, announced yesterday that it has filed for an initial public offering (IPO). While the company didn't state how much it expects to raise, sources familiar with the situation said the retailer anticipates it will be valued at roughly $3 billion to $4 billion. An IPO filing had been…

Amazon Moving Into Macy's Flagship Store in Seattle
October 19, 2017 at 11:06 am

Ironically, it was announced this week that e-commerce giant, Amazon.com, will be taking over the top six floors of the Macy's building in downtown Seattle. The Seattle Times reports the lease, confirmed by an Amazon spokesman, is the latest sign of expansion in the company’s hometown. News of the lease and further expansion comes a…

Confessions of a CDO: Not All Retail CDOs Are Set Up for Success
October 18, 2017 at 4:51 pm

Retailers are going through major transformation to remain competitive and drive loyalty within their customer base. Digital business has caused many to struggle with customer experience, especially when it comes to providing that personal touch many retailers have developed over the years. However, with more data resources available than ever before, retailers are finding that…

Moroccanoil Names JuE Wong New CEO
October 18, 2017 at 2:30 pm

Moroccanoil has announced former Elizabeth Arden President JuE Wong as its new chief executive, effective immediately. Wong will be responsible for leading continued expansion in high-growth channels, such as travel retail and e-commerce, which will pave the way for an increasingly diverse omnichannel consumer experiences, the company says. Moroccanoil hopes that Wong’s global business expertise will…

Sears’ Second-Largest Investor Resigns From Board
October 18, 2017 at 2:18 pm

Sears Holdings said Monday that Bruce Berkowitz, the troubled retailer's second-largest investor, is leaving the company's board of directors, a departure that sent stock prices of the company's shares sharply lower. Berkowitz is the chief investment officer of Fairholme Capital Management, which reported in an Aug. 14 regulatory filing that it held approximately 28.9 million shares…

Editor's Note: Introducing Total Retail's 2017 Retail Technology Report
October 18, 2017 at 1:04 pm

Technology is top of mind for most retailers today, no matter their size, product category or any other variables. As such, Total Retail surveyed its audience with the goal of finding out what types of retail technology retailers are interested in (as well as investing in), what retail trends and digital trends they’re tracking, and their…

A Retailer's Guide to International Expansion
October 18, 2017 at 9:27 am

When domestic success is achieved for a retailer, the common next step is to consider expansion internationally in order to scale the operation. Achieving home success with customers is likely the result of years of research, investment and hard work, so it’s vital that a retailer doesn’t take this bold next step lightly. International expansion…

American Express Merchant Fee Case Going to the Supreme Court
October 17, 2017 at 10:28 am

The U.S. Supreme Court accepted a case that could roil the credit card business, agreeing Monday to consider reviving government allegations that American Express Co. thwarts competition by prohibiting merchants from steering customers to cards with lower fees. A federal appeals court had thrown out the lawsuit, saying the U.S. government and 11 states failed to…