Walmart has created new private-label fashion brands in several categories to add more style and fend off competition from Amazon, which is making bigger inroads into apparel retail. Walmart is the most-shopped retailer for apparel, followed by Amazon Fashion and Target, which are tied for second place, according to Coresight Research.
Sony will reduce the cost of its PlayStation VR by $100 from Feb. 18 to March 3. Also, the company is offering several bundles, including the "Gran Turismo Sport" bundle, which includes a headset, a camera and the racing game for $200.
Sears expects to book a fourth-quarter profit of between $140 million and $240 million, despite a double-digit dip in same-store sales, thanks to a benefit of up to $495 million from the new tax law, the retailer said in a regulatory filing. The company also said it will record an impairment charge linked to its trade name for the third consecutive year as revenue continues to fall.
Toy retailer FAO Schwarz has returned to growth mode after shuttering its iconic New York City store two years ago, with plans to expand internationally. The retailer will partner with Chinese distributor Kidsland to open stores in Beijing and Shanghai in 2018, and it has teamed with Hudson Group to open branded shops at airports in the US and Canada.
December's strong holiday sales made it likely that sales would dip in January, and the 3.6% year-over-year increase offers retailers a more accurate metric, former Hudson's Bay Co. and Toys R Us CEO Jerry Storch said. Inflation of about 2% to 3% could help boost retail sales this year, he said.
Innovation in the supply chain is necessary and only occurs when the right thinking and plan are in place, says Kristi Montgomery of Kenco. She says several steps have to happen within the organization prior to innovation occurring, including breaking down silos and looking beyond costs.
Retail secondary market sales have been growing at about 7.5% per year, according to Zac Rogers of Colorado State University, with goods being resold at a discount by retailers, offloaded to liquidation platforms or discarded. "The good retailers have been through this for many years and they've improved their processing," leading to up to 50% of holiday returns being restocked, says Tony Sciarrotta, executive director of the Reverse Logistics Association.
H.E. Butt Grocery is buying Favor Delivery, an Austin-based service that delivers restaurant meals and groceries across Texas. Favor will initially continue to operate as a separate subsidiary, H-E-B executives said, even as they acknowledged the major role of grocery delivery in their business plans.
Alibaba Group is transforming the supermarket scene in China with its 25-store Hema chain, which melds the best of high-tech and high-touch retail. The fast-growing chain features in-store restaurants, a focus on fresh food and a user-friendly approach that has been lacking in traditional Chinese supermarkets, writes Tom Doctoroff.
Amazon shares more apparel and footwear shoppers with Target than it does with Walmart, and Target's fashion fans are more likely to also be Amazon Prime members, according to a report from Coresight Research. Most clothes shopping still happens in stores, where shoppers can browse and try things on before buying, said Nathan Rigby of One Click Retail.
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