Retail Stores

Just weeks after Macy's declared it's looking for a new way to grow revenues, a major North Carolina rival confirms it might be for sale. Analysts are skeptical the Cincinnati-based retailer wants to double-down on a traditional department store concept, however. Belk, based in Charlotte, North Carolina, operates 297 department stores throughout the Southeast from Maryland to Texas. Last week, Belk reported a $146.1 million profit on revenues of $4.1 billion, but disclosed it was reviewing its long-term strategic plan and hired investment banker Goldman Sachs to weigh its options.

Execs at Sears Holding Corporation may have bought the struggling retailer some time with their latest cash injection, but the long-term outlook for Sears and Kmart remains far from certain thanks to transformative initiatives under way at some of its top rivals. On Wednesday, Sears announced two transactions that together will raise about $2.6 billion in cash by mid-year. The news temporarily alleviated concerns among investors that the troubled department store retailer would lose access to high-quality inventory for the holiday season as vendors feared delayed payment.

Back in February, RadioShack filed for Chapter 11 bankruptcy, destroying the childhood memories of many a tech blogger, and putting 4,000 brick-and-mortar stores in jeopardy at the same time. But as of today, a plan to co-brand remaining stores with the Sprint logo is officially approved. As reported by Reuters, the offer to co-brand 1,740 remaining RadioShack stores as Sprint/RadioShack locations received approval in bankruptcy court yesterday. Stores will apparently carry both names, with Sprint occupying about a third of each location. 

Amazon.com perfected online shopping. It may now want to do the same with brick-and-mortar stores. A recently filed patent application by Amazon reveals details about a new kind of retail establishment that would allow shoppers to pick items and leave without stopping at a cashier station or kiosk. Based around the idea of complete convenience, such a store would work using a system of cameras, sensors or RFID readers that would be able to identify shoppers and the items they've chosen, according to the application, which was filed in September and published in January.

You lipstick-hating, tech-savvy millennials are killing Macy's mojo. On Tuesday, Macy's CFO Karen Hoguet blamed Netflix, millennials and women who like to shop without wearing makeup on weaknesses in the luxury retail market. "We did some consumer research, and the customers said she likes going to the off-price retailers because she doesn't have to put lipstick on," Hoguet said at an industry conference. "I've walked through a lot of malls. I'm not sure." Macy's reported a 1.8 percent increase in revenue last quarter to $9.36 billion that fell short of analyst expectations.

If your company's brick-and-mortar budget is a source of frustration, it's probably because there are several items devouring resources without moving your bottom line. Focusing more of your precious resources on these five areas will help sales by keeping you relevant and desirable:

Aeropostale says it's considering closing as many as 75 additional stores despite reporting a smaller profit loss in the fourth quarter. The company's net loss narrowed to $13.5 million in the fourth quarter ended Jan. 31, down from $70.3 million a year earlier. Net sales fell 11.3 percent to $593.8 million. Comparable sales declined 9 percent. Aeropostale closed more than 180 stores over the three months that ended Jan. 31. It currently has about 850 stores in North America and another 239 licensed Aeropostale stores worldwide.

During Monday's Apple Watch event, Apple CEO Tim Cook suggested the high-end Apple Watch Edition will be available in limited quantities at a select number of stores. He was likely referring to some of the pop-up shops we've seen under construction in upscale department stores Galleries Lafayette in Paris and Selfridges in London. Women's Wear Daily has shared some more information on the locations where we will see the $10,000-plus Apple Watch Edition and other versions of the Apple Watch shown off around the world.

L.L.Bean, known for selling its trademark boots via catalog for more than a century, plans to make a bigger push into brick-and-mortar retail by more than tripling the number of domestic stores over the next five years, officials said Wednesday. The Maine-based company, which is coming off five years of increasing revenue, will open four stores this year before accelerating growth with a goal of at least 100 stores by 2020, CEO Chris McCormick told workers in a memo. The retail push will include Bean's first West Coast presence with the opening of stores in the Pacific Northwest.

For Columbus, Ohio-based fashion retailer Express, a continued expansion of outlet stores is a central part of its strategy, executives told analysts this week during a conference call on 2014 earnings. In the year just ended, Express had 600 stores, down from 632 stores from the year before. While about 19 of those stores closed, others were converted into outlet locations. Express has about 41 outlet locations now and ultimately plans to have as many as 150 of the lower-priced stores in the next few years.