Terry Lundgren to retire from Macy's board next month | IKEA will tailor its India stores to local tastes | The Limited returns to retail in deal with Belk
December 11, 2017
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Terry Lundgren to retire from Macy's board next month
Terry Lundgren to retire from Macy's board next month
Lundgren (Jamie McCarthy/Getty Images)
Terry Lundgren will step down as Macy's executive chairman on Jan. 31, completing the retirement process started last year that included handing the CEO reins to Jeff Gennette in March. Gennette will become board chairman when Lundgren leaves.
The Wall Street Journal (tiered subscription model) (12/8) 
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Industry Watch
IKEA will tailor its India stores to local tastes
Planning for India's first IKEA store, which is set to open next year, started six years ago and involved customizing aspects of the store to fit the market, IKEA India CEO Juvencio Maeztu says. The in-store restaurant's menu will be designed to fit Indian tastes, he says.
Quartz (12/8) 
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The Limited returns to retail in deal with Belk
The Limited returns to retail in deal with Belk
(Neilson Barnard/Getty Images)
Belk department stores will start selling fashions from The Limited, giving the brand its first brick-and-mortar retail presence since it filed for bankruptcy and shuttered its namesake stores early this year. The Limited has also launched a revamped e-commerce site, and both the Belk line and online offerings will include plus-size styles.
Glossy (12/11) 
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Hallmark's greeting cards prove popular in the digital age
The digital revolution isn't doing away with paper greeting cards, says Lindsey Roy, Hallmark's chief marketing officer. US consumers buy 6.5 billion greeting cards each year, according to the Greeting Card Association, and millennials used to texting and digital communication appreciate the lasting nature of paper cards, Roy said.
CNBC (12/9) 
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Other News
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Retail Trends
NRF: Strong holiday sales to drive up Dec. imports
NRF: Strong holiday sales to drive up Dec. imports
(Paul J. Richards/Getty Images)
Imports at US ports are on track to rise 1.5% in December, as retailers replenish holiday merchandise, according to an NRF report. "Retailers are doing last-minute restocking as consumers head toward the finish line of the shopping season," NRF Vice President Jonathan Gold said.
Reuters (12/8) 
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Retailers aim for simpler discount programs
Retailers aim for simpler discount programs
(Frederic J. Brown/Getty Images)
Retailers including Macy's, J.C. Penney and Kohl's are making their promotional programs easier for consumers to understand, after years of layering discounts and deals. "You shouldn't need a Ph.D. in math to figure out our prices," said Greg Revelle, Kohl's chief marketing officer.
The Wall Street Journal (tiered subscription model) (12/11) 
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Retail Technology
Report: Traditional retailers gain digital IQ points
Amazon still leads in L2's Digital IQ ranking, but brick-mortar-retail chains are catching up with improvements in areas including personalization and the store experience. Home Depot, Walmart, Target and Best Buy round out the ranking's top five, and Lowe's, REI and Staples also made the top 10.
MediaPost Communications (12/8) 
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Brands use tech, data to rightsize inventory
The growth of e-commerce and demand for speedy delivery has made inventory management even more complicated for fashion brands and retailers. High-end brands are increasingly turning to high-tech tools and data to track products through the supply chain and avoid excess inventory.
Bloomberg (free registration) (12/8) 
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NRF News
What retailers don't know about the weather
As the largest external driver of consumer need, weather is more than just a conversation-starter for retailers. In the latest episode of NRF's Retail Gets Real podcast, the team chats with Planalytics Executive Vice President of Global Services Evan Gold about how weather changes affect holiday-season retail. Listen to the episode here.
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NRF SmartStat: Dec. 11, 2017
Of people who attended Retail's Big Show in 2017, 88% play a role in their company's purchasing decisions. Source: NRF.
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Meal-kit companies should step up to the plate
Plated Chief Strategy Officer Nick Taranto has always believed that retail would be a critical component for the meal-kit company. Although he says customers will continue to want elevated culinary experiences, he is predicting the death of standalone meal-kit companies by 2020. Here's why.
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Chain Restaurant News
Quickserve pasta concepts catch on in NYC
Quickserve pasta concepts catch on in NYC
A new breed of New York City quickserve is serving generous portions of affordably priced, chef-created pasta dishes such as fusilli with basil pesto and whole grain rigatoni with meat ragu. "Everything up until where you order is cooked like a very traditional restaurant. It's just that the service is lightning-fast," said Pasta Flyer chef Mark Ladner.
Thrillist (12/7) 
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