Old Navy outlines growth plans as a standalone company | Report: US retail sales grew 0.4% in Aug. | NRF's calculation, which excludes car dealers, gas stations and restaurants, found that sales for August were up 0.4% from July and 4.6% year over year. Read more.
Old Navy will open about 75 new stores annually with plans to grow from about 1,200 to 2,000 locations in North America. The growth plans, which come as Old Navy prepares to spin off from parent Gap, will focus largely on small, underserved markets, Old Navy CEO Sonia Syngal said.
US retail sales rose 0.4% in August, according to the Commerce Department, beating economists' forecasts for an increase between 0.1% and 0.2%. Growth was fueled by a 1.8% jump in auto sales, a 1.6% increase in online sales and a rise in sales at Home Depot, Lowe's and other home and garden stores.
Under Armour will focus on performance innovation to serve its core customers rather than expanding into athleisure to win new brand fans, CEO Kevin Plank said. The brand's five-year plan also calls for Under Armour to grow to 2,500 stores, up from the 1,100 it operated at the end of last year.
Walgreens will start offering 3% Daily Cash rewards to Apple Card holders who pay with either the card or Apple Pay. Uber and Uber Eats also offer the perk, and it's expected to expand to more retailers.
Free People is increasing its focus on wellness with an expansion of its seven-year-old FP Movement workout wear line and the inclusion of spaces for workout classes in the three new stores it opened this year. Many of the brand's existing 136 stores have spaces that can be cleared to host workouts, and smaller shops are focusing on surf outings and other activities that take place outside the stores.
ALDI has identified 23 products in its Fan Favorites survey and will mark them in stores with a blue heart-shaped logo starting this week. Favorites include several plant-based and better-for-you options such as strawberries, Simply Nature Organic Hummus, Happy Farms String Cheese and Earth Grown Veggie Burgers.
A planned Kroger fulfillment center in Dallas will boast robotic technology from Ocado that will be able to fulfill a 50-item online grocery order in around seven minutes. "This partnership with Ocado gives us a capability to bring fresh food to the entire [Dallas-Fort Worth] market," Kroger Senior Vice President Robert Clark said.
Stocks rose Thursday after President Donald Trump tweeted a plan to delay tariff increases on $250 billion in Chinese imports from Oct. 1 to Oct. 15, but other recent economic data shows the ongoing US-China trade war is taking a toll on US businesses and jobs. NRF and other business groups agree with the goal of restructuring the US-China trade relationship, but they don't support tariffs as an effective tactic, NRF President and CEO Matthew Shay said.
Retailers will be able to learn about new retail concepts and the technologies that power them at the Fall 2019 Tech Trends in Retail event in Plano, Texas, on Sept. 19. The event, organized by NRF and RevTech Ventures and sponsored by American Express, will feature emerging direct-to-consumer retailers and a "fireside chat" with Neighborhood Goods CEO Matt Alexander. Learn more and register.
Exclusive to NRF members, NRF On Demand offers the latest content from NRF conferences and events anytime, anywhere. Members can now view the most popular sessions from NRF 2019: Retail's Big Show on retail technology, customer experience, talent, culture and leadership. Log in to nrf.com to watch.
Huddle House will acquire Perkins Restaurant & Bakery for an undisclosed amount, in a deal scheduled to close Oct. 21, the companies said. Memphis, Tenn.-based Perkins has 342 restaurants in North America and Huddle House, based in Atlanta, has no plans to change the names of any Perkins eateries.