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January 8, 2016 at 9:31 am
The Finish Line, the retail chain specializing in athletic shoes, Thursday named a new CEO, revealed a loss for the fiscal third quarter and said it would close about 25 percent of its stores. Sam Sato, currently the retailer’s president, has been promoted to replace Glenn Lyon as CEO, effective Feb. 28. Lyon, who is also…
January 7, 2016 at 10:13 am
The growing use of smartphones by consumers, a shift in investments by technology companies and continued optimization strategies from retailers has officially landed smartphones on top as a driver of sales and traffic for retail companies. According to the State of Retailing Online 2016, conducted by Shop.org, Forrester Research and Bizrate Insights, mobile as a…
January 7, 2016 at 10:05 am
Hudson’s Bay Co. is preparing to pay $250 million to buy Gilt Groupe Holdings, Inc., a membership-based online retailer that caters to shoppers in the millennial generation. The Toronto-based retailer says Gilt has more than 9 million members, and the acquisition is expected to add about $500 million to HBC’s overall revenue this year. About half of…
January 7, 2016 at 9:57 am
Macy’s said on Wednesday that it would eliminate about 4,500 jobs, or about 3 percent of its work force, in a major restructuring drive. It said slumping holiday season sales hurt its bottom line. The department store chain’s holiday woes were a harbinger of what could be a difficult winter for retailing.
January 6, 2016 at 11:06 am
The National Retail Federation Foundation announced this week the 25 individuals named to its List of People Shaping Retail’s Future 2016. The honorees represent the best and brightest individuals impacting the retail industry today and will be recognized and celebrated at the NRF Foundation Gala on Jan. 17 in New York City.
January 6, 2016 at 10:51 am
Last year was grim for retailers. This year could be even worse. Despite a late surge in holiday sales, companies like J.Crew and 99 Cents Only Stores are struggling under debt they took on in leveraged buyouts years ago. Their bond prices have plummeted as investors brace for possible defaults. The industry has been limping along for…
January 6, 2016 at 10:36 am
Amazon.com easily emerged as the retailer most likely to find success in 2016 in a poll of a RetailWire BrainTrust panelists, although there were some notable detractors. The bullishness is understandable as research shows one out of every three online product searches now begins at Amazon, and that the website accounts for about half of…
January 5, 2016 at 11:13 am
Family-owned Mills Fleet Farm has agreed to sell to New York-based KKR, one of the country’s largest investment concerns that has holdings in various industries totaling about $100 billion. Terms of the deal, expected to be announced Tuesday, weren't disclosed. However, after the Mills family put the privately held chain of 35 stores up for sale…
January 5, 2016 at 11:03 am
Between them, they’ve raised hundreds of millions of dollars in venture funding. They’ve launched high-tech e-commerce platforms and Main Street brick-and-mortar stores. They’re turning media sites into customer bases, creating affordable bespoke and luxury products and making the historically murky supply chain more transparent. Meet the retail and e-commerce 30 Under 30 class of 2016.
January 5, 2016 at 10:55 am
eBay shoppers rely on "Saved Searches" to keep track of items they're interested in and to get alerts when an item they're looking for shows up for sale. So when there are problems with Saved Searches, shoppers become understandably upset.
