Macy's is turning several stores into discount outlets. CEO Terry Lundgren told analysts on a conference call that the brand is planning to put Backstage stores in 15 existing retail locations this year. The stores will sell Macy's brands at steeply discounted prices — up to 80 percent off. This model copies highly successful brands like TJ Maxx…
On Monday, Samsung opened a new 40,000-square-foot store in New York’s Meatpacking District. Across the street from the High Line and a block away from the Whitney Museum of American Art, it’s a prime piece of retail space. But one pursuit "the flagship" isn't focused on, says Zach Overton, its general manager, is retail. Yes, you…
Kroger keeps growing and growing. Not counting acquisitions, Kroger has notched a stunning 12 straight years of growing sales at its nearly 2,800 stores. But now, thanks to its financial strength, the Cincinnati-based supermarket giant is growing increasingly by taking over rivals too. This week, Kroger was named as a potential suitor for struggling upscale grocer…
Fabletics’ aim is to open 75 to 100 stores over the next three years to five years, the company revealed to Forbes. Almost all of Fabletics’ $150 million in revenues in 2015 came from its e-commerce operation, bolstered by the appeal (and massive social media following) of the company’s co-founder and face, actress Kate Hudson.
Whole Foods Co-Chief Executive Officer Walter Robb, seeking to appeal to younger, budget-conscious shoppers, says his company’s new 365 chain is going to try some tactics outside of the conventional grocery-store playbook. Whole Foods has advertised that it’s looking to find suppliers and vendors to set up shop in its 365 stores through a program called "Friends…
Retail sales increased for a third straight month in January as Americans kicked off 2016 by spending freely on cars, clothing and online merchandise. The 0.2 percent gain matched the previous month’s advance that was initially reported as a decline, Commerce Department data showed Friday. The median forecast in a Bloomberg survey called for a 0.1…
The National Retail Federation said Wednesday that it expects a year of healthy though hardly stellar growth for the industry in 2016, releasing a forecast that sales will rise about 3.1 percent. The trade group said retailers should finally start to see a bump in sales thanks to lower gas prices. Retailers first started talking about…
Old Navy was for the longest time the bright spot in Gap Inc’s struggling portfolio, the brand that had held its own against everyone from Wal-Mart to H&M. Gap’s largest brand, a powerhouse behind 40 percent of sales, figured out long before both its major sister brands Gap and Banana Republic how to compete with fast-fashion…
Sears says it will accelerate plans to close unprofitable stores and will consider additional staff cuts as it tries to stem the red ink after what it called a "challenging" holiday selling season. Sears Holdings on Tuesday said fourth-quarter sales in stores open at least a year fell 7.2 percent in Kmart stores and 6.9 percent…
Retail is an enormous and profitable industry. Global sales were projected to top $24 trillion in 2015 and are expected to grow another 3.2 percent this year, making the magnates who run the sector's largest companies even wealthier. We recently released our list of the 50 richest people on earth based on data from Wealth-X, which…
