Friday, October 20, 2017

Target CEO says small-format stores twice as productive as traditional

Image result for Target small-format storesSales per square foot at Target Corp's 44 small-format stores are "easily double" that at traditional stores, Target Chief Executive Brian Cornell said on Thursday, after the retailer announced 11 new small-format stores opening this week.

Target said it recorded an average of $300 in sales per square foot across its stores, compared with at least $600 in sales per square foot from its small-format stores.. . . more

The Demise Of Physical Bank Branches Is Far Off

The Demise Of Physical Bank Branches Is Far OffAs digital banking continues to permeate the industry, traditional brick-and-mortar bank branches have experienced a shift.

Consolidations have increased over the last two years while branch openings have decreased. But according to analysts, this does not necessarily mean the demise of the physical bank.. . . more

Toys ‘R’ Us is getting ready to launch Black Friday deals — starting next week

Image result for toys r usAs a teaser to the anticipated Black Friday weekend, the nation’s largest toy retailer is launching its first deals next week.

Toys “R” Us is kicking off deals between Thursday, Oct. 26 and Saturday, Nov. 18. These will include items from the company’s “Holiday Hot Toy List.” Customers will get a sneak peek into this merchandise in the retailer’s holiday catalog, “The Ultimate Guide to Play,” which will be mailed out on Thursday, Oct. 19 and available in newspapers on Sunday, Oct. 29.. . . more

Under Armour launches merchandise subscription service

Image result for under armourUnder Armour is jumping on the fashion subscription box bandwagon with its latest offering, ArmourBox.

It’s the Baltimore brand’s first-ever subscription service, along the lines of otherssuch as Stitch Fix, Le Tote, Fabletics and Rent the Runway.. . . more

Walmart eyeing department store chain to ‘anchor’ potential online mall

A potential partnership could give Walmart another way to compete with its rival Amazon.

The discount giant is nearing a deal with Lord & Taylor that would give the department store dedicated space on Walmart’s website. Besides encouraging other brands to follow suit and also come aboard, this move could also be a stepping stone for the discounter to establish as an online mall, according to Fortune.. . . more

First Look: Apple opens next-gen flagship in Chicago

Image result for apple new chicago storeApple is unveiling its newest and most architecturally ambitious store to date, a 20,000-sq.-ft. glass showcase on North Michigan Avenue in Chicago.

Opening on Friday, Oct. 20, Apple Michigan Avenue is designed to be a gathering place for the local community, and will host year-round events. The program kicks off with “The Chicago Series,” a set of five individual programs co-created with local non-profits and creative organizations. Each program focuses on a theme or project designed to make a positive impact in the community.. . . more

Target will balloon store remodel slate

Target will balloon store remodel slateOpening its first mid-town Manhattan store today, Target has announced that it is dialing up the pace of remodels – way up.

Target said it will accelerate the number of store remodels to more than 1,000 by the end of 2020 and expand its Restock program nationwide next year. The remodels will feature its next generation store design.. . . more

Gordmans wins OK for liquidation plan

Gordmans will get a second life after bankruptcy under the Stage umbrella. That is just one of a handful of outcomes we’ve seen during a year of record bankruptcy filings that have ended in liquidations, sales and a growing number of reorganizations intended to save retailers as independent going concerns.

Founded just over 100 years ago, Nebraska-based Gordmans Stores was once a fixture in the Midwest. After opening a group of stores that sold department store merchandise at a discount in 1975, the company went on to operate more than 100 stores at its height. . . . more

Thursday, October 19, 2017

Retail Giant Target Announces Plans for First Vermont Store

The retail giant Target says it plans to open its first Vermont store a year from now.

In a release issued Thursday, Target says that once the planned 60,000-square-foot store opens in at the University Mall in South Burlington in October 2018, it will have stores in all 50 states...more

This Retailer Went From Zero To $2 Billion In Four Years

Image result for LuLaRoeThe few startups that grow rapidly to over $1 billion in revenue are almost never in retail, they’re usually in technology or other industries. Retailers that grow so fast are normally unsustainable.Except for this one.

The Company is called LuLaRoe. They sell ladies clothes along with some men’s and children’s in colorful styles. There’s nothing so unusual about that, in fact right now that’s a fairly unattractive business to be in. That’s what makes this company so intriguing. There are a few other unusual things about LuLaRoe, even aside from the growth it’s experienced.. . . more

Blue Apron is laying off hundreds of employees

Image result for blue apronAs Blue Apron approaches its next earnings report in a couple of weeks, the company said Wednesday that it is laying off 6 percent of its staff as part of “a company-wide realignment of personnel to support its strategic priorities.”

Blue Apron was one of the big consumer IPOs of the year, but it’s also now one of the companies that represent the major challenges consumer IPOs have faced throughout the year. The company is an example of a complex business that can face significant challenges acquiring and retaining customers, as well as one that faces an existential threat from Amazon.. . . more