Retail Stores

A few years ago I wrote a blog called 10 Retailers That Shook the World to single out the most significant pioneers in retailing. I did a ton of research and got lots of feedback, and although it was well received I had a nagging feeling it needed revising. So with the benefit of additional experience and insight, I revisited the list and made some changes. See if you agree.

Sears quietly added all nine of its Great Indoors stores to the list of store closings on Feb. 23. Store managers were informed last week, a Sears spokeswoman confirmed, but no exact date has been given for the closings. 

Cheery yellow bedspreads, snow-flaked artificial Christmas trees, shiny bathroom faucets, dog bowls  — Martha Stewart has her name on all of them. And with the launch of her new home office line at Staples earlier this month, Stewart can add filing cabinets, sticky notes and even her own form of rubber bands to her growing list of eponymous merchandise.

It's no surprise that shoppers find long checkout lines to be frustrating, but retailers may not understand the implication long lines have on in-store sales. New survey results reveal that nearly 40 percent of smartphone-carrying shoppers abandon their in-store purchases due to long lines and 21 percent will abandon their purchases if there are no registers open, equating to lost revenue for the retailer.

According to company sources, there are plans in place for an Apple Store to be opened in the world famous Harrods department store. With 360 Apple stores operating in cities throughout the world, the last 11 years has seen the company always searching for the next standout location to deliver heavy footfall and large exposure. London already has five existing Apple Stores; however, the proposed site in Harrods would be the city's first store-within-a-store location.

Following a successful 23-store launch, Macy's will expand its Store-to-Door program throughout 290 store locations by the fall, according to a recent call with financial analysts. This program allows Macy's to be able to ship from a different store to the customer directly if an item is not in stock. 

Chico's will invest $93 million to upgrade its technology, distribution and supply chain systems. The company is also planning for 135 new brick-and-mortar stores in 2012. More details on these initiatives will be released in March. 

Bloomingdale's has launched a new customer loyalty program called Loyallist for all its U.S. retail locations and online store. The new tender-neutral program is streamlined and delivers benefits to any customer shopping with a U.S. address at Bloomingdale's — regardless of how they pay.

Sears is looking toward its substantial real estate portfolio to offset its weak financial performance. The operator of Kmart, Sears and Lands' End said it will spin off some stores and sell others as it seeks to regain profitability and market share.

Gap reported that net income for the fourth quarter plummeted 40 percent on higher costs and aggressive discounting during the holiday selling season. Net income for the quarter ended Jan. 28 was $218 million, compared with $365 million a year earlier.