Billabong, the surfwear brand that lost 99 percent of its market value after taking on debt to build a store network, plans to start opening new outlets again as it tries to reignite profits. Billabong is ready to open new stores "right now," CEO Neil Fiske said. The company based in Gold Coast, Australia, closed or sold about 34 percent of its locations over the past three years as it slashed debt by A$394 million ($333 million). "Stores are key to a brand's health over time," Fiske said in an interview in Sydney.
Holiday shopping in the U.S. kicked off earlier than ever this year, leaving some customers who didn't want to skip out on their Thanksgiving celebrations without the bargains they were seeking.
This is the first Christmas in four years that J.C. Penney isn't confusing customers by discontinuing merchandise, killing coupons, introducing brands or having big chunks of its stores under construction. And its merchants and marketers have had a full year to plan Christmas 2014 without a revolving door of its leadership and radical changes in pricing strategy or product mix. "Last year, we didn't have a lot of lead time, but we did have a point of view with our ‘jingle more bells’ campaign," said Deb Berman, senior vice president of marketing.
C. Wonder, the chain created by Tory Burch's ex-husband Christopher in 2011, has plans to shutter most of its stores and transition into a wholesale brand, BuzzFeed News has learned. The retailer will close up to 20 of its 32 locations by Jan. 1, depending on how lease negotiations unfold, two people familiar with the matter told BuzzFeed News on the condition of anonymity. C. Wonder, which bears a close likeness to Tory Burch's luxury brand, though is less expensive, has trimmed its corporate staff to around 75 people from near 120 in the past year, one person estimated.
Online powerhouse Zappos has opened its first-ever freestanding store, a 20,000 square-foot pop-up in the company's hometown of Las Vegas. Powered by state-of-the-art technology, the shop blends online and offline retail. In keeping with the brand's heritage, it will be open 24 hours a day, seven days a week, from Nov. 21 until Dec. 31.
Dollar General may have to divest more than double the 1,500 stores it said it was willing to sell if it wants to gain regulatory approval to buy archrival Family Dollar. The Federal Trade Commission may require the country's No. 1 dollar store chain to divest more than 4,000 stores to win approval of its stalled $9.1 billion merger proposal, two sources close to the situation said Tuesday. There's concern among the FTC staff that the two chains are mainly in competition with each other — and not with Wal-Mart, drugstores and supermarkets, the sources said.
A group of Wal-Mart employees pushing for higher wages said on Friday they were planning protests at 1,600 Wal-Mart stores nationwide on Black Friday, the biggest shopping day of the year in the United States. The labor group, Our Wal-Mart, said it had protested 1,200 to 1,400 Wal-Mart stores last year on Black Friday. Wal-Mart Stores Inc, owner of Wal-Mart brand stores, and the largest private employer in the United States, has been a target for activists in the contentious national debate over proposals to raise the minimum wage.
Target has acquired a Pittsburgh-based company that says its software platform brings "an Amazon-like shopping experience" to in-store customers. Powered Analytics Co-Founder Collin Otis and a spokesman for Minneapolis-based Target confirmed the deal Wednesday. Terms weren't disclosed. Otis says the firm, founded in 2012, will remain headquartered in Pittsburgh. Powered Analytics’ Fabric product uses mobile technology, location data and machine learning to connect a retailer's app to the in-store shopping experience.
Dillard's has stopped selling a controversial holiday sign that appeared in the girls section of one of its stores in Florida. The sign read: "Dear Santa, This year please give me a big fat bank account and a slim body. Please don't mix those two up like you did last year. Thanks." The sign was supposed to be part of the home merchandise area with other "whimsical" signs, said Dillard's Spokeswoman Julie Johnson Bull. "We immediately removed it from the little girls display," she said, adding that the sign would no longer be sold in any of the chain's stores.
As consumers go about their holiday shopping this year, they might take notice of the growing number of pop-up stores available to them. Brands are increasingly turning to the temporary retail spaces as an outlet to sell holiday or seasonal merchandise that doesn't warrant being stocked in a store 12 months a year. From big-name retail brands such as Amazon.com (yes, that Amazon!) and Eddie Bauer to smaller local (i.e., mom and pop) stores, it seems as if everyone is jumping on the pop-up bandwagon this holiday season.
