Nike has opened a new concept store called Nike by Melrose in West Hollywood, Calif., that combines digital shopping with personalized services. The concept, dubbed Nike Live, uses customer preferences collected through its NikePlus app to curate merchandise selection, includes customized shopping features like the Nike Sneaker Bar and targets shoppers who like to exercise in style.
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Best Buy, under the leadership of Hubert Joly, has turned its once-struggling business around and re-established itself as a major consumer electronics and technology supplier. The company has doubled online sales to $6 billion in the past five years, and service revenue was nearly $2 billion in Best Buy's fiscal year ending in January.
Blockbuster will close its two stores in Alaska on Monday, leaving the video rental retailer with one last US store, in Bend, Ore. The company, which operated 9,000 stores in the US and international markets in 2004, has steadily closed stores since filing for bankruptcy in 2010.
Japanese companies Shima Seiki and Fast Retailing are deepening their partnership, which began in 2016, with plans to produce on-demand knitwear on a wider scale. Fast Retailing subsidiary Uniqlo currently sells knitwear products made by Shima Seiki.
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Back-to-school spending is expected to hit $82.8 billion this year, with $27.5 billion being spent on students from kindergarten through high school and $55.3 billion on students heading to college, according to this year's survey from NRF and Prosper Insights and Analytics. Clothing and electronics are expected to be the biggest categories for spending this year, with most shoppers heading to department stores, online retailers and discount stores.
Aerie continues its #AerieREAL push with ads showing a variety of women with chronic illnesses, including diabetes, vitiligo and fibromyalgia. The women in the recent ads were chosen after responding on social media with photos and stories about themselves.
Supply chain technology startup Inspectorio has raised $10 million in a funding round that included Target and Ecolab. Inspectorio, which will use the funds in its work to improve and update the retail supply chain, is an alum of Target's Techstars accelerator program.
NRF's Shop.org conference will bring together some of the hottest names in the industry this fall to discuss the trends and technology shaping the future of retail. Attendees will hear from Intel, Etsy, Forrester, eBay, Shiseido, Google, Snapchat and other companies at the event, which will be held Sept. 12-14 in Las Vegas. See the speakers.
NRF members now have access to theBoardlist, a program designed to expand the network of board-ready women to help achieve more balanced corporate governance. A recently announced partnership gives female executives the opportunity to be discovered in board searches from private and public companies across the country. Learn more and apply.
McDonald's will team with Uber Eats on July 19 to bring back Global McDelivery Day across six continents. Customers who order more than $5 worth of food will receive a free '90s themed memorabilia item, which include socks, pins and T-shirts.