Target will make over 1,000 of its 1,800 stores in the next three years, up from the 600 announced earlier this year, after seeing positive results from its first remodels, CEO Brian Cornell said Thursday. As it focuses on competing with Amazon and Walmart, Target will also open more small-format stores and bolster its private-label offerings.
Elevate Your Customer Experience Amy can provide product details, price checks, inventory lookups and mobile checkouts all while never leaving the salesfloor. Learn today how Zebra's Enterprise Tablets can create happy customers.
Apple's new flagship on Chicago's Michigan Avenue is encased in glass walls 32-feet high that offer a clear view of the Chicago River. "We really wanted to create the ultimate Town Square for Chicago and for the Midwest," Apple Retail Chief Angela Ahrendts said.
Target's new small-format store across from Macy's New York City flagship is one of 12 slated to open in the US this week. The store will be open from 7 a.m. to midnight and offer a merchandise mix tailored to commuters and tourists.
French luxury brand Louis Vuitton has acquired a 256-acre parcel in Keene, Texas, to build its first US factory. The 100,000-square-foot facility will produce purses and luggage and promises to bring between 100 and 500 new jobs to the 6,000-person town.
Leaders from retailers including Costco Wholesale and Tommy Bahama discussed the disruptive changes taking place in the industry at an event this week. "Retail is simply going through a period of disruption and change akin to a renaissance -- not an apocalypse," SAP executive Lori Mitchell-Keller said.
Neiman Marcus has teamed with Indie Beauty Expo to launch 15 new beauty brands at the upscale retailer's department stores. It's the latest example of department stores looking to boost store traffic and beauty sales through partnerships with independent brands.
Walmart sees a retail future where virtual reality tools can create improved experiences, including 3-D holograms that would let Bonobos customers virtually try on new fashions. Other innovations in the pipeline include 3-D images that give ModCloth shoppers a better way to find the right fit and virtual shopping assistants.
A growing number of retailers are turning to PayPal as a payment option as they fend off competition from online players, PayPal Holdings CEO Dan Schulman said. EBay spun off PayPal into a separate payment services company two years ago.
The Senate voted Thursday to approve its version of the fiscal year 2018 budget resolution, and once the House and Senate agree on a final version, Congress will be able to begin work on tax reform. Both budget resolutions include "reconciliation" language allowing a tax reform bill to pass the Senate on a simple majority of 51 votes rather than requiring 60 votes to defeat a filibuster. Read more.
Many brands that began online are now opening physical stores, bringing the online and in-store shopping experiences together. An infographic by Natural Insight in NRF's Retail Library shows the latest statistics around trends that are shaping bricks-and-mortar, and how experiential marketing can help lift sales. Download the white paper.
Mall-based pretzel chain Auntie Anne's is expanding its focus on catering and food trucks to boost sales as mall traffic declines. The chain, which has upwards of 1,200 US units and around 500 international locations, is also experimenting with delivery in some markets and may eventually offer it nationally, said President Heather Neary.