Gap puts the brakes on Old Navy spinoff plans | NRF: Holiday retail sales rose 4.1% | Sears' estate owes $200M in legal, advisory fees
January 17, 2020
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Gap puts the brakes on Old Navy spinoff plans
Gap puts the brakes on Old Navy spinoff plans
(Drew Angerer/Getty Images)
Gap has dropped plans to spin off its Old Navy banner into a separate publicly-traded company, the retailer said, citing the expense and other difficulties that would be involved. Sales at Old Navy have softened since Gap first proposed the spinoff last year.
The Wall Street Journal (tiered subscription model) (1/16),  BNN Bloomberg (Canada) (1/16) 
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Industry Watch
NRF: Holiday retail sales rose 4.1%
NRF: Holiday retail sales rose 4.1%
(Timothy A. Clary/Getty Images)
Retail sales grew 4.1% to $730.2 billion during the November and December holiday season, according to NRF, coming close to the top end of the group's holiday forecast that projected growth of between 3.8% and 4.2%. "This is a strong finish to the holiday season, and we think it's a positive indicator of what's ahead," NRF President and CEO Matthew Shay said.
CNBC (1/16) 
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Sears' estate owes $200M in legal, advisory fees
The estate left after Sears sold assets, including more than 400 stores, to a new company controlled by Edward Lampert has been billed about $200 million by lawyers and advisers. The law requires attorneys to be paid in full, which could leave little money for other creditors and former employees who are owed severance.
The Wall Street Journal (tiered subscription model) (1/16) 
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How Lululemon is growing beyond its niche
Lululemon Athletica has gained steam over the past year with rapid growth of its menswear offerings and a focus on international markets. The moves have fueled a resurgence in the retailer's stock price and spurred some analysts to compare the brand to Nike.
Financial Post (Canada) (1/16) 
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Retail Trends
Click-and-collect accommodated Target's last-minute holiday shoppers
The rise of click-and-collect options allowed more consumers to put off their Christmas shopping until the last minute, Target CEO Brian Cornell said. Target had almost five times as many pickup orders on Christmas Eve as on the same night the previous year, he said.
CNBC (1/16) 
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Women shared career wisdom at Retail's Big Show
Female retail leaders shared their wisdom about moving up in the industry at NRF 2020 Vision: Retail's Big Show this week, stressing that women need sponsors as well as mentors to give them a leg up on the career ladder. Women fill 28% of c-suite jobs in retail, compared to 21% for all industries, Equity for Women founder and CEO Michelle Bogan said.
The Dallas Morning News (tiered subscription model) (1/16) 
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Retailers adjust to competitive landscape
Retailers who a few years ago would be laser-focused on fending off Amazon have expanded the scope of their competitive efforts with new partnerships, nontraditional retailers and an embrace of technology, executives said during NRF 2020 Vision: Retail's Big Show. "Competition is fierce and intense. The battle is joined every day, and we know the reality that there's a great divide," NRF Chairman and Qurate Retail CEO Mike George said.
The Dallas Morning News (tiered subscription model) (1/16) 
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Retail Technology
Kroger teams with Ky. university to bolster innovation
Kroger teams with Ky. university to bolster innovation
(Scott Olson/Getty Images)
The Kroger Technology & Digital Innovation Lab, a partnership between the retailer and Northern Kentucky University, will officially open today, store officials said. The lab, which is designed to drive digital innovation and also includes scholarships for students, is the latest in a series of Kroger's initiatives with colleges in and around its hometown, Cincinnati, aimed at boosting the store's digital and technological capabilities.
The Business Journals (tiered subscription model)/Cincinnati (1/16) 
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David's Bridal creates a digital concierge
David's Bridal has debuted Zoey, a digital concierge that's powered by artificial intelligence and designed to drive traffic to the retailer's stores. Zoey will pass along customers' questions and concerns to stylists, paving the way for smoother in-store consultations.
Glossy (tiered subscription model) (1/17) 
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NRF News
WW's Mindy Grossman on big moves and strategic risks
With an overarching goal of marrying technology with meaning, business executive Mindy Grossman took her biggest and maybe most strategic risk when she became CEO of Weight Watchers (now WW) in 2017. Read more on Grossman's career and lessons learned along the way. Read more.
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NRF SmartStat: Jan. 17, 2020
About 52% of shoppers say half or more of their purchases are influenced by convenience. Source: NRF's Winter 2020 Consumer View.
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Running to where consumers are
Under Armour rolled out a new brand campaign this week, and company founder Kevin Plank was at NRF 2020 Vision: Retail's Big Show to talk about it. "Storytelling is so much a part of what we are doing," Plank said. Read more on the inspiration for the campaign, who the target customer is and the role of listening in a company's success. Read more.
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Learn more about NRF:
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Events | Resources | NRF Foundation
Chain Restaurant News
Starbucks to support job training with community stores
Starbucks to support job training with community stores
(Starbucks)
Starbucks will open or renovate 85 stores in low-income urban and rural communities over the next five years, bringing the total number of these community stores to 100. The chain will also work with the United Way to create job training and education programs in each store.
The Associated Press (1/17),  Nation's Restaurant News (free registration) (1/16) 
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Editor's Note
SmartBrief will not publish Monday
In observance of Martin Luther King Jr. Day in the US, SmartBrief will not publish Monday. Publication will resume Tuesday.
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NRF JOB BOARD
Director, Counsel - Litigation
BURLINGTON - Burlington, New Jersey, United States
Director, Compensation COE
MACY'S - New York, New York, United States
Director of Ecommerce
PLOW & HEARTH LLC - Madison, Virginia, United States
Vice President of Sales
PERRY ELLIS INTERNATIONAL INC - New York, New York, United States
IT Senior Manager (Supply Chain Warehouse Core Systems)
ROSS STORES, INC - Fort Mill, South Carolina, United States
Senior ORC Investigator
TJX COMPANIES, INC. - Boca Raton, Florida, United States
Project Manager
BED, BATH & BEYOND - Union, New Jersey, United States
Senior Analyst, Strategic Sourcing
ROSS STORES, INC - Dublin, California, United States
Senior Finance Business Partner
HSN - St. Petersburg, Florida, United States
senior data engineer, Business Data Services, Starbucks Technology - Seattle, WA
STARBUCKS - Seattle, Washington, United States
sr. compensation and benefits analyst - Toronto, ON
STARBUCKS - North York, Ontario, Canada
  
  
You know there are moments such as these when time stands still and all you do is hold your breath and hope it will wait for you.
Dorothea Lange,
documentary photographer, photojournalist
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