Retail Stores

Macy's announced Tuesday a new three-year growth strategy that includes plans to close 125 of its least productive stores and cut 2,000 corporate positions among other changes, reports CNBC. The retailer is closing its San Francisco, downtown Cincinnati and Lorain, OH offices, consolidating headquarters to its New York City location. The turnaround plan, dubbed the Polaris strategy,…

Sephora has big growth plans, at a time when many retail businesses are shutting their doors for good. The beauty retailer, owned by Louis Vuitton parent company LVMH, will open 100 stores in 2020. This marks its largest real estate expansion to date, more than doubling its store growth in 2019. And the focus, with this…

As the first digitally native generation, Gen Z (the generation born after 1997) is the most tech-savvy group of consumers to ever walk a mall. In honor of the first annual National Mall Walking Day on Oct. 8, we asked 20,000 American consumers about their mall shopping habits. The results surprised us, and they may…

Two conflicting sentiments — hope and trepidation — are the driving force behind many U.S. retailers’ marketing plans for this year. U.S. retail sales rose 3.4 percent during the 2019 holiday season. The online sales for apparel, jewelry, and department stores all saw year-over-year increases. In 2020, retailers hope for growth rests on their ability to…

Walmart is testing out a higher minimum starting wage for certain jobs at about 500 of its stores as part of a broader overhaul of roles and responsibilities across its U.S. workforce. According to Bloomberg, Walmart is raising starting minimum hourly wages to $12 from $11. Under the retailer’s new operating model, dubbed “Great Workplace,” some…

Fashion retailer Express announced plans to shutter approximately 100 of its stores by 2022 in an effort to save costs, CNBC reported. The plan would save the company $80 million in costs annually over the next three years. Express also announced that it will be restructuring its workforce, which will impact about 10 percent of the…

Stationery chain Papyrus is reportedly closing all of its stores across the United States. Citing two anonymous sources, Retail Dive's Ben Unglesbee reported that the chain's parent company, the Schurman Retail Group, plans to close all Papyrus retail locations. The first Papyrus location opened up in Berkeley, California, in 1973, although the brand itself dates back to 1950.…

The retail industry has witnessed a seismic shift as of late, with the emergence of direct-to-consumer (D-to-C) brands, an increasingly saturated market with a flood of new options in every vertical, and the ever-lingering dominance of Amazon.com and other e-commerce giants. Therefore, it’s no surprise that brands have had to drastically shift their strategies to…

CVS Health is on track to meet its goal of rehabbing more than 1,000 of its stores, CNBC reported. At the end of 2018, CVS launched three of its HealthHUB concept stores in the Houston region, before expanding the program to 50 locations in four markets by the end of 2019. Hundreds more are scheduled to be…

The notion that millennials are harbingers of the retail apocalypse is, in fact, a myth. New data from Accenture quashes this misconception, having found 82 percent of millennials prefer shopping in brick-and-mortar stores. The fact that millennials haven’t simply abandoned brick-and-mortar retail in favor of online shopping is a testament to the power of a smart, unified…