With reports of store closures dominating the retail headlines in 2017, opening a brick-and-mortar location may seem like a bit of a risky proposition. But YETI, the leading premium cooler and drinkware brand, bucked the trend and opened its first store in Austin, Texas earlier this month. The store is a one-of-a-kind retail environment that…
Millennials are a powerful demographic for retailers. Today, there are around 80 million millennials in the U.S., representing 25 percent of the population. Accenture estimates that millennial shoppers’ annual spending will reach $1.4 trillion by 2020. Within a few years, millennials will “truly come into their own” in terms of spending power, accounting for 30…
Shares of Sears Holdings jumped more than 9 percent on Monday after Chairman and CEO Edward Lampert bought more of the department store's shares. Lampert was already Sears’ largest shareholder, but bought 526,000 additional shares last week, according to a regulatory filing. Lampert's purchase came shortly after Sears acknowledged there was "substantial doubt" it will…
GameStop is the latest retailer to announce that it will be closing stores this year. USA Today reports the video game retailer had a drop in fourth-quarter sales and announced plans to close at least 150 of its 7,500 stores worldwide. GameStop reported a 13.6 drop in global sales year-over-year. The company cites its recent…
Nordstrom is unveiling showrooms for the tux rental startup The Black Tux in six stores over the next six weeks, starting with its Mission Viejo, Calif. location. The partnership could expand more widely if the initial rollout goes well. None of the Nordstrom stores are located in cities where The Black Tux has, or has immediate…
In an industry that's ridden with store closures and bankruptcies, one retailer is a bright spot. Ulta Beauty, one of the fastest-growing beauty retailers, saw net sales increase 23.7 percent in 2016 and earnings per share soar 30.9 percent. Earlier this week at Shoptalk in Las Vegas, Dave Kimbell, Ulta’s chief merchandising and marketing officer,…
Target is getting a new look. According to reports, the big-box retailer is revamping its look in an effort to get shoppers back into its brick-and-mortar locations. The new layout was unveiled by CEO Brian Cornell in Las Vegas on Monday. Some of the features include a separate entrance and 10-minute parking for shoppers looking to pick…
Discount shoe store Payless is struggling. USA Today reports the retailer has been rumored to be seeking bankruptcy court protection and may close as many as 500 stores. Payless plans to shut down the stores as part of its reorganization strategy. While 500 stores closing is a lot, it's less than the original estimate of 1,000 stores.…
In an interview yesterday with Sucharita Mulpuru at Shoptalk in Las Vegas, Kohl's Chairman, CEO and President Kevin Mansell discussed the future of the struggling retailer, including the role of brick-and-mortar, how the department store will leverage technology, how it views Amazon.com, and the potential impact of the proposed border adjustment tax
Bebe Stores Inc. is planning to shut down its stores and become an online-only brand, according to sources close to the situation. The company is trying to close the locations without filing for bankruptcy, however, Chapter 11 may be required if enough landlords aren't willing to negotiate. Bebe has 170 stores in its fleet, including…
