Retail Stores

Acxiom Corporation, a marketing services and technology provider, announced its latest Consumer Dynamics study, "What Your Customer Is Buying When Not Buying From You," which highlights consumer spending potential for major retail categories. The study analyzed consumer purchase data from multiple retailers across the country for a variety of retail categories. The final product, a series of retail spend indicators, enables retailers to see beyond their own purchase data to estimate their customers’ total category spend. These indicators enable retailers to more accurately determine share of wallet and to prioritize promotional expenditures.

Hingham, Mass.-based Talbots expects to close approximately 110 locations and focus on store reimaging through fiscal 2013. In fiscal 2011, the company refreshed and reimaged approximately 70 locations, including consolidations and downsizings. The company also closed 82 locations, including 69 full-line stores, during fiscal 2011. As announced in December 2011, Talbots’ board of directors is exploring a full range of strategic alternatives. Pending that evaluation, the company will continue to pursue its long-range plan to invest in key strategic initiatives, specifically the expansion of its upscale outlet business and store reimaging initiative. 

Thanks to a combination of neglect, mismanagement, a weak economy and the ever-changing dynamics of retail, the unthinkable may happen. After years on death watch, Sears Holding may actually fall — joining the ranks of retailers like Borders and Blockbuster as mere entries in the archives of Wikipedia. A new round of store closings was recently announced. Key executives are leaving. Sales have been in steady decline for years. These aren't good signs.

Sales at U.S. retailers rose sharply for the third straight month in March, as Americans continued to weather the hike in gasoline prices and splurged on buying new cars and renovating their homes. Retail sales jumped 0.8 percent in March, after advancing 1 percent in February, Commerce Department figures showed Monday. Economists polled by Reuters had forecast a much smaller gain of 0.3 percent. Sales excluding the auto sector also rose 0.8 percent last month, after having been up 0.9 percent in February and 1.2 percent in January. 

Struggling big-box retailer Best Buy yesterday released a list of 42 store closures. Richfield, Minn.-based Best Buy announced a round of 50 store closures in late March, but at that time didn't identify the stores that would close. Since then, it's closed two stores (one in Kansas City, Mo. and one in Scottsdale, Ariz.) and has notified five Twin Cities stores and one San Antonio store that they'll close later this year. 

Camp Hill, Pa.-based Rite Aid Corp. plans to focus on remodeling existing stores in fiscal 2013. The revamped stores will feature the company’s wellness format, a design Rite Aid began rolling out in fall 2012. The wellness format features expanded clinical pharmacy services, new health and wellness product offerings and on-site Wellness Ambassadors. In 2011, the company relocated 15 stores, remodeled 278 stores and closed 47 stores. At the end of 2011, the company operated 4,667 stores.

Cabela’s, a cross-channel retailer of hunting, fishing and outdoor gear, plans to hire up to 250 full-time, part-time and seasonal employees to staff its new Charleston, W.Va. store scheduled to open this summer. This will be Cabela’s second retail store in West Virginia. It will showcase thousands of quality products, including hunting, fishing, camping and other outdoor gear, as well as outdoor clothing, gifts and furnishings.

Carmine Gallo, author of "The Apple Experience," explains the secrets behind Apple's retail success.

Terry Lundgren, Macy's chairman, president and CEO, offers insight into retail trends and his company's business strategy. He also comments on the challenges faced by Ron Johnson, CEO of J.C. Penney.

Specialty retailer and team dealer Lids Sports Group has teamed with internet sports media destination Bleacher Report to launch a Bleacher Report Store site in connection with BleacherReport.com. Through the agreement, Lids will develop, host, maintain and be responsible for the retail operations of the Bleacher Report Store. A specific “Shop” link will appear on the Bleacher Report website, as well as the mobile app, to drive fans to the new online Bleacher Report Store.