In the heyday of department stores, fashionable ladies flocked to luxury emporiums like Le Bon Marché, Bergdorf Goodman, Saks Fifth Avenue and Selfridges. Draped in fur coats, their heads crowned with dainty millinery, they buzzed around merchandise that had never before been available in such a wide assortment under one roof. Department stores were wondrous and bright communal playgrounds, places to socialize and explore the seemingly endless stock of goods, often from far-flung locales.
Lord & Taylor has figured out how to get the kids back into its department stores: Throw lots of parties and the millennials will flock. The department store is testing out the method in its Manhattan flagship, where it hosted a gathering of about 600 young women last Thursday to
Sears deepening financial troubles have forced insurers and banks to raise the cost of guaranteeing payment to vendors, rattling the retailer's supply chain as the company heads into the key holiday season. The move by these financial intermediaries — an opaque but vital quarter of the retail business where makers of goods ranging from apparel to TVs seek to insure they get paid — comes in the wake of unusual steps Sears has taken to raise cash for operations. In the past three weeks, the retailer twice has turned to its CEO Eddie Lampert's hedge fund for a cash infusion.
Christopher & Banks is preparing to roll out its new missy-petite-women (MPW) store concept at 37 stores, after successfully testing the retail strategy at 20 locations across the U.S. last year. The retailer plans to convert a total of 190 stores by the end of this year. The new store concept combines missy, petite and women's sizes (4 to 24) in one shopping location and brings the CJ Banks brand under the Christopher & Banks banner in malls across the country. The previously separate websites also have merged into a single e-commerce site at christopherandbanks.com.
If anyone is still wondering what's behind the bidding war for Family Dollar, look no further than this: visits to dollar stores were up 14 percent last quarter. Yes, 14 percent. Dollar stores, or the extreme discount segment, are capturing an ever-growing portion of shoppers' dollars, according to the NPD Group's Shopping Activity Services report. While some of this increase is attributed to a larger store base, increased assortment and some interesting demographic shifts are also contributing factors. Nearly half of dollar store shoppers are under the age of 45, an increase from 42 percent last year.
We all lead such busy lives that anytime we can do something to save time we should consider doing so. This is why I'm writing today's column — to save you from having to read the stories about the latest hackings of retail stores that will continue to be repeated in the news in the months ahead. Since the hacking of Target that began around Thanksgiving 2013, we have seen the same story played out in store after store, including
Urban Outfitters Inc.'s Anthropologie chain, known for its bohemian-chic housewares and apparel, will supersize some stores to entice shoppers with a wider array of lifestyle gear. The company aims to open 25 to 50 Anthropologie stores in the next five years that will be three times larger than current locations, which average about 7,100 square feet. Urban Outfitters will also test the larger format for its namesake and Free People chains, the Philadelphia-based company said this week. Anthropologie, striving to become a broader lifestyle brand, will increase its home goods, wedding, beauty and intimates offerings at the larger stores.
Thanksgiving could turn into a full shopping day this year, industry consultants say, as retailers debate moving up their openings and doorbuster events. While retailers aren't expected to announce any special Thanksgiving hours until the second half of October or into November, "it's inevitable to see them open all day or even earlier than last year," said Joel Bines, managing director and co-leader of consulting firm AlixPartners’ retail practice, in an interview.
They compete tooth and nail to draw customers to their Midtown flagship stores, but Macy's and J.C. Penney are teaming up to block the thievery of organized crooks. The rivals have joined more than 100 companies and the NYPD to form an alliance that will be known as the Metropolitan Organized Retail Crime Alliance. Its objective is to improve retail stores’ security efforts by sharing intelligence on crews of bandits, scams and ripoffs. Target, Home Depot and Rite Aid have also signed up for the crime-busting venture. Computer giant Apple is poised to jump onboard soon, sources said.
CNBC's Jane Wells looks at how the size of the new iPhone 6 Plus could impact fashion trends and retailers.
