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July 14, 2015 at 2:35 pm
Sales at U.S. retailers unexpectedly dropped in June, curbing optimism about the strength of the rebound in consumer spending during the second quarter. Purchases decreased 0.3 percent after a 1 percent advance in May that was smaller than previously reported, Commerce Department figures showed Tuesday. The median forecast of 82 economists surveyed by Bloomberg called…
July 14, 2015 at 2:26 pm
When a consumer searches for a product a retailer doesn’t carry, how should the retailer respond? A recent federal appellate court opinion suggested that Amazon.com gave the wrong answers to consumers searching for a watch brand that it didn’t carry. Multi Time Machine makes high-end military-style watches under brand names including “MTM Special Ops.” MTM…
July 14, 2015 at 2:17 pm
Books-A-Million said Monday it's agreed to be acquired by a newly organized entity created by the Anderson family, including Books-A-Million Executive Chairman Clyde B. Anderson. Holders of Books-A-Million stock, excluding the Anderson family and some management team members, will get $3.25 per share. The stock closed at $2.60 on Monday. The deal comes after the…
July 14, 2015 at 2:04 pm
The Wal-Mart vs. Amazon.com fight for retail domination just escalated. Not one to let Amazon steal the sales spotlight, Wal-Mart will launch a rival sale Wednesday to Amazon's recently announced Prime Day, including more than 2,000 online exclusive "rollbacks," Wal-Mart's word for discounts. The lower prices on items in categories including electronics, home, baby and…
July 13, 2015 at 2:26 pm
Retail giant Wal-Mart Stores and its Sam’s Club division are in the process of cutting up to 1,000 corporate headquarter jobs by Nov. 1, according to several sources familiar with the situation. The cuts would happen through layoffs and attrition, and may include up to 200 vice presidents. Wal-Mart Stores didn't confirm nor deny the…
July 13, 2015 at 2:18 pm
Rakuten, Japan’s answer to Amazon.com with e-commerce operations and investments that stretch from digital media and e-commerce marketplaces through to social media and transport apps, is making another acquisition to expand its holdings, this time in the area of fashion. The company has acquired Fits.me, a startup that develops “virtual fitting rooms” — two-way technology…
July 13, 2015 at 2:12 pm
A coalition of executives from some of the nation's largest companies, spearheaded by Starbucks CEO Howard Schultz, pledged to hire 100,000 young Americans who have been shut out of the job market. The 100,000 Opportunities Initiative, which launches Monday, aims to give a leg up to some of the estimated 5.5 million Americans, ages 16…
July 13, 2015 at 2:07 pm
J.Crew has gotten a lot of flack from customers for how pricey much of its merchandise has gotten in the last few years. So to remedy that, the fashion retailer will open the first location in a new chain of lower-priced stores called J.Crew Mercantile later this month, the company announced on Friday. The first…
July 10, 2015 at 2:12 pm
Crate and Barrel has named Doug Diemoz as its new CEO, the Northbrook, Ill.-based home furnishings retailer announced Thursday. Diemoz is currently chief development officer for California-based Restoration Hardware. Diemoz will start his new role with Crate and Barrel on Aug. 1. A 20-year retail veteran, Diemoz joined Restoration Hardware in March 2014. He was…
July 10, 2015 at 2:02 pm
The checkout pages on shopping sites are getting more crowded, so American Express is creating its own real estate. The credit card company is introducing Amex Express Checkout, an alternative payment method its card members can use to more easily check out and pay on partnering websites and apps from merchants such as Ticketmaster, Newegg…
