HSN CEO Mindy Grossman will step down on May 24 after 11 years in the post and take over as chief executive of Weight Watchers International in July, the companies said. Grossman moved to HSN after six years leading Nike's global apparel division, and in 2008 she and other executives took the company public.
Find Out How To Turn Mobile Browsers Into Buyers It's no secret that more consumers are shopping on their phones. And all those on-the-go shoppers need support -- in fact, 7 in 10 mobile shoppers say they've abandoned a mobile experience because they couldn't contact the company. Find out how to convert your mobile customers to buyers. Get the Roadmap to a Better Mobile Customer Experience
Gap will work toward sustainably sourcing all of the cotton for its fashion brands including Gap, Old Navy, Athleta and Banana Republic by 2021, the company said. The move is one of the retailer's sustainability goals, which also include cutting down on water consumption and reducing waste.
Albertsons has named Jewel-Osco President Mike Withers to serve as executive vice president of retail operations in charge of the retailer's East region. The move will bring Withers to Albertsons' headquarters in Boise, Idaho, where started his career as an Albertsons clerk in 1976.
Gucci booked its fastest sales growth in 20 years in the first quarter, as new creative director Alessandro Michele's sequinned and printed styles resonated with fashion fans. The Italy-based luxury brand has seen growing demand in China as the luxury market there rebounds, and its digital efforts brought an 86% jump in first-quarter online sales.
Sports apparel brand Under Armour reported a smaller-than-expected net loss, a first for the retailer, and higher-than-forecast revenue for the first quarter. The company reported strong growth in sales of apparel and accessories, while footwear sales lagged.
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Food retailers are turning to produce and other fresh departments to ramp up competition with delivery services and other foodservice operators, offering produce butchering and other services that make meal prep easier. Midwestern supermarket chain Hy-Vee now offers dedicated space for groups of shoppers to prepare recipes ahead of time, and New York-based Price Chopper/Market 32 lets customers choose from several pre-planned sauce, meat and vegetable combinations to create meals.
US consumer spending has been on the rise in the post-recession years, but households are spending more on entertainment, cars and DIY projects and less on consumer packaged goods. CPG purchase volume dipped 2.5% in the first quarter, and smaller brands gained ground as conglomerates including Procter & Gamble and PepsiCo struggled to increase sales.
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Boxed Wholesale, an e-commerce player that sells packaged food and household goods in bulk packaging, has made significant investments in technology that will triple the capacity of its New Jersey warehouse. Boxed sells only about 1,500 products and boasts an average order size of $100.
Tax cuts proposed by President Donald Trump would mean more money for retailers to invest in their businesses as consumers continue to shift their spending to digital channels, NRF President and CEO Matthew Shay said. "This is consumers changing their behavior, and certainly there are big players like Amazon out there, but there are enormously big players like Wal-Mart and Target and Macy's and Home Depot who are investing extraordinarily in this experience," he said.
NRF conferences are a powerful platform for retailers to make announcements, launch new initiatives, share best practices and inspire the industry. Retailers who have a story to share can submit their ideas for the feature stage and breakout sessions at Retail's BIG Show in January 2018. Speakers of all levels -- from rising stars to C-suite executives -- are encouraged to submit proposals by the June 2 deadline. Learn more and submit your idea.
Consumer demand for mid-range and high-end virtual retail technology products will reach 24 million units by 2020, compared with only 2.4 million in 2016. Source: Forrester Research via STORES Magazine.
Strong consumer spending propelled the US economy in the fourth quarter of 2016, which was up by a 3.5% annual rate. This year, however, the economy appears to once again be off to a slow start. In his latest Monthly Economic Review, NRF Chief Economist Jack Kleinhenz looks at how spending is affecting the current economy despite business and consumer optimism. Download the report.
Del Frisco's Restaurant Group is working with Bain Consulting to create better distinctions between its three restaurant chains, Del Frisco's Double Eagle Steak House, Del Frisco's Grille and Sullivan's Steakhouse. Del Frisco's Grille is testing a new menu slated to debut at all locations later this year, the company said.