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June 18, 2015 at 3:37 pm
Missed the Fashion Tech Forum (FTF), which was held last week in New York City? Don’t worry, I was there! I’ve condensed the day into seven points you need to know. Here goes:
June 18, 2015 at 3:33 pm
In reflection of how valuable mobile wallet users are, Macy’s is enhancing its own wallet, which was introduced last year, to better guarantee its place on shoppers’ smartphones in an increasingly crowded space. Macy’s is enhancing its digital wallet with an eye toward reducing shopper dependence on paper coupons while boosting the retailer’s ability to…
June 17, 2015 at 3:59 pm
The Marketplace Fairness Act failed to secure Congressional approval again last year, but was reintroduced in the Senate in March. This week, a different version surfaced in the House. Utah Rep. Jason Chaffetz introduced the Remote Transactions Parity Act of 2015 on Monday. Retail groups including the National Retail Federation (NRF) and Retail Industry Leaders…
June 17, 2015 at 3:52 pm
Anna’s Linens Inc. in Costa Mesa, Calif. filed for Chapter 11 bankruptcy protection on June 14 with the U.S. Bankruptcy Court, Central District of California. The home goods retailer is also negotiating a sale with DW Partners LP in New York. Anna’s Linens said in its bankruptcy filings that its liabilities range between $100 million…
June 17, 2015 at 3:47 pm
Coty is on track to acquire Proctor & Gamble's beauty business in a $12 billion deal that would make the U.S. cosmetic company the world leader in perfume and hair care, sources close to the matter said. If the deal goes though, Coty would get its hands on brands such as Gucci and Hugo Boss…
June 17, 2015 at 2:57 pm
The owner of U.S. deep discount retailer Ollie's Bargain Outlet — known for the signature catch phrase "good stuff cheap" — filed on Monday for an initial public offering, hoping to replicate the success of other retailers this year. Ollie's Bargain Outlet Holdings Inc operates 181 stores across the United States, selling excess inventory and…
June 17, 2015 at 2:49 pm
Amazon.com is considering a crowdsourced delivery solution that uses individuals to deliver packages and existing retailers to store them, all powered by a mobile app. The initiative, referenced internally as On My Way, could allow Amazon to gain control over shipping costs that grew 31 percent last year, according to The Wall Street Journal.
June 16, 2015 at 11:36 pm
Gap is planning to close 175 stores in North America. Of those, 140 will close this fiscal year, the company announced Monday evening. All of those affected will be regular Gap stores, rather than outlets or factory shops. An undisclosed number of European stores are also set to close. This will leave 800 Gap stores…
June 16, 2015 at 2:32 pm
Ikea is getting intimate with its customers. To send the company back on a growth track, Ikea has plans to make 1,000 house calls a year at customers' homes, poking through their cabinets, observing how their kids play and determining the biggest headaches people encounter when running their households. The goal: learn what customers in…
June 16, 2015 at 2:12 pm
Is J.Crew actually becoming J. Screwed? All is not well at the iconic apparel retailer J. Crew. The lead designer for women’s clothing has been ousted and the customers aren’t happy. In a rather unusual way they are letting their feelings be known. The Washington Post sums up the mood with the following: “Customers aren’t…
