Retail Stores

New York-based luxury handbag maker Coach is planning to close about 70 underperforming stores in fiscal 2015 as it tries to make its business more competitive with fast-growing rivals. The retailer also gave a disappointing revenue forecast for fiscal 2015. Coach, which also makes accessories, footwear and other items, is grappling with weakness in its North American handbag and accessories market as consumers increasingly flock to rivals such as Michael Kors Holdings Ltd., which has been quick to churn out trendy designs. But the latest report shows that the slump will continue for a while. 

After a series of gaffes entering the Canadian market last year, including high prices and a rushed expansion, Target took to the internet to issue an apology to its shoppers in The Great White North. In a YouTube video posted last week, members of Target's Canada team talk about their excitement to bring the bull's-eye retailer to the country, only to undergo a series of missteps — and criticism — when it opened more than 100 locations in a year. 

At the end of the 2014 fiscal year (January 2014), Wal-Mart had 3,285 supercenters in the United States that vary in size from 180,000 square feet to 230,000 square feet. It also had 508 discount stores that were around 140,000 square feet, smaller than the supercenters because they sell very little food. There were also, according to Wal-Mart's annual report, 407 even smaller units, of which 359 are the Wal-Mart Marketplace concept. These stores average around 43,000 square foot in size and have been around since 1998.

RadioShack on Tuesday reported a wider loss and said it may have to reduce the headcount at its corporate office in Fort Worth as it tries to cut costs. Mobile phone sales continue to be weak and new products in the pipeline won't be in stores until

RadioShack has entered the smartphone and tablet repair business. The Fort Worth-based retailer thinks it can increase traffic to its stores by becoming the first national chain to provide in-store, same-day service on popular mobile devices. Some repairs will be done in an hour or even while a customer waits. "Fix It Here!" stations have been added to more than 284 company and franchise stores as part of a pilot program. Results are encouraging enough to expand it to 700 stores by year-end, said CEO Joe Magnacca.

At Urban Outfitters’ new Manhattan store, you can try on a sweater, sip on a latte and get you hair styled — all without stepping outside its walls. The specialty retailer, known for its eclectic apparel and novelty items, on Saturday opened a 57,000-square-foot store in New York City, complete with a hair salon, coffee bar and record shop. It's the latest example of the shifting retail environment, in which malls and brick-and-mortar stores are looking to reinvent themselves to ramp up foot traffic, which has taken a dive since the advent on online shopping.

A gun reform group on Wednesday called on discount retail chain Target to ban the open carrying of firearms in its stores. The petition from Moms Demand Action for Gun Sense in America follows demonstrations by a pro-gun group bringing long guns into Target stores. Following the petition, Target spokeswoman Molly Snyder wrote in an email, "The safety and security of our guests and team members is our highest priority. Target doesn't sell firearms or ammunition and is committed to following all state and federal laws. However, I don't have any specific information to share regarding this organization."

Chinese investment firm Sailing Capital and Chinese conglomerate Sanpower could have a new American asset after a bankruptcy auction on Monday: retail chain Brookstone, for which they will pay more than $173 million, subject to court approval. The sale will be central to Brookstone's plan to emerge from bankruptcy, after filing for Chapter 11 protection in April. So who are these two Chinese buyers? But more important than the question of who are the Chinese buyers: What is Brookstone? The store sells a variety of things that can be difficult to lump together in a coherent category. 

Consumers are demanding more consistent brand experiences, and retailers are being challenged to provide personalized experiences across multiple touchpoints — e.g., web, email, mobile, social and offline. So what does personalization look like across these multiple touchpoints, and how can retailers use these techniques to generate return on investment? Let's take a closer look at personalization in action.

For the past few years, brick-and-mortar retailers didn't have a fighting chance to compete with the personalization and convenience provided by online shopping. By cultivating mountains of rich customer data, online retailers had the upper hand. Every action and inaction, from what visitors clicked on and how much time they spent looking at certain products to their social activity and response to email programs, helped online retailers tailor each email, pop-up or recommended product to drive sales and provide a superior experience.