Shopko, the general merchandise retailer with stores located throughout the Central, Western and Pacific Northwest regions of the U.S., announced that it, along with its subsidiaries, has filed for Chapter 11 bankruptcy protection. In its filing, Shopko cited excess debt and ongoing competitive pressures as the reason for the measure. Shopko reported assets of less than $1…
In the retail industry, customer experience has always been important, but it's now vital to drive customer satisfaction, repeat business and store profitability. Improving customer satisfaction and dwell time drives more items in the shopping cart and enhanced profitability. There’s a growing demand for new technologies to help retailers improve operations, develop stronger connections with today’s…
Sears Holdings reached a deal with its Chairman Eddie Lampert and his hedge fund ESL Investments early Wednesday, according to a source familiar with the situation, reports CNBC. The $5 billion agreement will leave roughly 400 stores open and keep the iconic retailer in business, saving close to 50,000 jobs. This comes after Sears rejected…
In a keynote presentation and interview at the National Retail Federation (NRF) Big Show in New York City, Target Corp. Chairman and CEO Brian Cornell detailed how the general merchandise retailer has followed a plan of reinvesting in the business, from people to technology to product, and the benefits it’s now realizing as a result.…
Children's clothing retailer Gymboree Group is expected to file for bankruptcy protection as soon as this week, in what would be its second bankruptcy filing in less than two years, a person familiar with the situation told CNBC. As part of the bankruptcy process, the company expects to close much of the roughly 900 stores…
People still want what brick & mortar can deliver them, especially when customer service is based on a single view of the customer.
Some retailers are heading into 2019 concerned about the uncertainty of the economy, according to Janet Yellen, the former chair and board of governors for the Federal Reserve System. Yellen was speaking to a packed crowd of retailers at the NRF Big Show in New York City today. While the global economy was firing on…
Fort Myers, Fla.-based women's retailer Chico's FAS has announced plans to close at least 250 stores and to expand a review of its operations. In a news release, the company said the strategic initiatives are designed to "build on the company's omnichannel platform" and ensure it has "the agility, customer service and speed needed for long-term success…
The start of a new year brings with it consumer packaged goods (CPG) industry trends, as well as the continuation of several 2018 developments. With e-commerce, we’ve started to see brands typically available exclusively online, like meal kit services, begin to move selectively into brick-and-mortar spaces or partner with established retailers to grow the reach…
The continued growth and popularity of online shopping is creating new challenges for brick-and-mortar retailers. However, by making use of the right analytical tools, there's no reason why these stores should feel threatened. Physical stores continue to be a valuable channel for retailers because they offer something online retailers can't: a tactile experience. Even Amazon.com,…
