Amazon's deal to acquire Whole Foods Market could bring new challenges for Target, which recently launched a three-year revitalization and store redesign plan with food playing a key role. "Whatever competitive pressures were out there before today are now accentuated with this move," Morgan Stanley Analyst Simeon Gutman said.
How JAKE Uses Square To Do It All Jake Wall and Nathan Johnson use Square to run and grow JAKE, a fashion and lifestyle brand. From analytics to inventory and payroll, Square manages all of JAKE's business and helps drive growth. View the case study.
Sears Canada was granted protection from its creditors Thursday, giving it 30 days to restructure under a plan that calls for the closure of 59 stores or about one-third of its locations. The retailer will shutter all 10 of its outlet stores and 20 full-line department stores, as well as locations under the Sears Hometown and Sears Home banners.
Banana Republic has teamed with textile supplier Piece & Co. to introduce a collection of summer styles created with sustainable fabrics hand crafted by women in South Africa and Ghana. The capsule collection will go on sale next week online and at stores in Japan and North America.
A high-end 125-unit apartment project called the Revel in Minneapolis will include a small-format Target store, developers said. The building will open Aug. 1 and the store is slated to debut a few months later with product offerings tailored to the building's residents, including grab-and-go items, fresh produce, apparel, home goods and a CVS Pharmacy.
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US consumers are expected to spend an average of $73.42 per person to celebrate Independence Day this year, up from $71.34 last year, according to an NRF survey, which also forecasts that food spending for the holiday will hit $7.1 billion. About 44.2 million people plan to travel more than 50 miles for a long July 4 weekend, according to AAA.
Kroger has adopted a new mission statement to "Feed the Human Spirit," marking the retailer's shopper-focused strategy to cater to consumers' needs in today's rapidly changing retail environment, Chairman and CEO Rodney McMullen said Thursday. "Kroger has evolved many times over 134 years. We have successfully adapted and competed thanks to our relentless focus on customers and that is why we are confident in our ability to evolve today," he said.
About one-fourth of consumers who participate in digital grocery shopping add items to their baskets, and a third of shoppers who use click-and-collect services and digital coupons and 39% of shoppers who use subscription services buy more, according to a report from WSL Strategic Retail. However, wider adoption is still a challenge, with only 15% of shoppers taking advantage of click-and-collect programs and 12% using subscription services, the report revealed.
NRF praised a plan unveiled yesterday by Senate Republican leadership to replace the Affordable Care Act, saying the bill would protect the foundation of employer-based health benefits that are the source of coverage for 177 million Americans. NRF opposed passage of the ACA and has sought its repeal while working with Congress to mitigate the impact of its most onerous provisions. Learn more.
The annual National Retail Security Survey, now in its 26th year, tracks theft and other inventory shrink, employee integrity, external retail crime and more. Participants were asked about their companies' loss prevention performance and actions in 2016. Download the report.
Sonic Drive-In will test a blended burger dubbed the Sonic Slinger in select markets starting in late August. The new burger is made from a mix of beef and mushrooms, and billed as both healthier and more eco-friendly than traditional beef burgers.