Target's efforts to lower prices, enhance grocery and e-commerce offerings, add more fashion-forward items and inspire quick fill-in trips paid off in higher second-quarter sales, the retailer reported Wednesday. Same-store sales rose 1.3% and online sales surged 32%.
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Ulta Beauty came from behind to become the biggest US beauty retailer in 2015, two years after Mary Dillon took over as CEO and launched an aggressive growth effort. The push centers on the retailer's loyalty program, which boasts 25 million members who generate 90% of the retailer's sales and use loyalty credits to get discounts on premium makeup brands.
Brandon Stranzl, executive chairman of Sears Canada, has handed his day-to-day duties to COO Becky Penrice so he can concentrate on putting together a bid to purchase the retailer and keep it in business, according to a company memo. The company won court approval in July to take bids to buy some or all of the company's assets.
Target's back-to-school TV commercials drew the most attention, according to a study of viewers by TVision. The retailer's English and Spanish ads drew 29% of attention from people who watched back-to-school spots, followed by Walmart with 17.6%.
Ryan Wood, one of three co-founders of Under Armour, left the company after 10 years to start a Colorado cattle ranch, but he has ideas about how the performance sportswear brand can turn around slowing sales. He talks about the importance of telling a simple story, building an authentic brand and weathering the storms when they come.
The internet has brought disintermediation to countless industries and cut out the middlemen who were responsible for turning things like Beanie Babies from fads to full-fledged businesses, writes Charles Duhigg. The shift to direct selling is making fads, particularly in toys, more unpredictable and less likely to last.
Apple and Samsung have a strong hold on the US device market, with about 75% of users owning a smartphone from one of the two brands, per research firm comScore. Any companies that wish to compete in the mature market will need to advertise heavily, use strategic partnerships and employ direct sales, Shira Ovide writes.
Applied Predictive Technologies and its CEO Anthony Bruce work with restaurants and other retailers to analyze data and determine whether new products or ideas make sense. Wawa killed a popular new sandwich after APT determined it was taking sales from other items, and the firm was also instrumental in McDonald's decision to launch an all-day breakfast menu.
NRF CEO Matthew Shay joined other executives in denouncing racism and bigotry in a speech at the American Society of Association Executives' annual meeting this week. "There is a fundamental strength in our diversity of thought, of religion, of ethnicity, of lifestyle, and that's what's unique about the association profession -- we recognize it as a strength to celebrate and embrace, not a weakness to be denigrated or diminished," said Shay, who who will take over as the ASAE chairman next month.
NRF's research team has reviewed the game tape from the 2016 holiday season, surveying more than 2,000 consumers to understand how they plan and shop for the holidays and what retailers can learn from the findings. From the new data comes the 2017 Holiday Planning Playbook, a guide that retailers can use as a tool to prepare for the most important few months of the year. Read more.
Myagi, an online training platform for retail workers, is designed to ensure that sales associates have the skills, knowledge, confidence and context to deliver unforgettable customer experiences. Co-founders Simon Turner and Tom McLeod launched the company in 2014 and in just three years they've developed an e-learning network for more than 120 retailers and brands globally, totaling over 10,000 store locations. Read more.
Chipotle Mexican Grill will make some changes in a push to drive traffic, including launching TV commercials and adding ingredients and dishes to a menu that has remained largely the same since the chain's launch 24 years ago, said BTIG analyst Peter Saleh. Saleh made his comments after meeting with Chipotle's investor relations executive Mark Alexee.