HSN CEO Mindy Grossman will step down on May 24 after 11 years in the post and take over as chief executive of Weight Watchers International in July, the companies said. Grossman moved to HSN after six years leading Nike's global apparel division, and in 2008 she and other executives took the company public.
Sports apparel brand Under Armour reported a smaller-than-expected net loss, a first for the retailer, and higher-than-forecast revenue for the first quarter. The company reported strong growth in sales of apparel and accessories, while footwear sales lagged.
Gucci booked its fastest sales growth in 20 years in the first quarter, as new creative director Alessandro Michele's sequinned and printed styles resonated with fashion fans. The Italy-based luxury brand has seen growing demand in China as the luxury market there rebounds, and its digital efforts brought an 86% jump in first-quarter online sales.
Amazon has introduced the Echo Look, a device that allows users to take voice-activated videos and photos of themselves to help make wardrobe decisions. Amazon has also introduced the Style Check app, which offers customizable suggestions using machine learning and information from fashion experts.
Albertsons has named Jewel-Osco President Mike Withers to serve as executive vice president of retail operations in charge of the retailer's East region. The move will bring Withers to Albertsons' headquarters in Boise, Idaho, where started his career as an Albertsons clerk in 1976.
Dollar Tree will build a new distribution center in Warrensburg, Mo., that will support the retailer's existing stores in the Midwest, as well as new store growth in the region. The 1.2-million-square-foot $110 million facility is slated to open in May of next year.
Food retailers are turning to produce and other fresh departments to ramp up competition with delivery services and other foodservice operators, offering produce butchering and other services that make meal prep easier. Midwestern supermarket chain Hy-Vee now offers dedicated space for groups of shoppers to prepare recipes ahead of time, and New York-based Price Chopper/Market 32 lets customers choose from several pre-planned sauce, meat and vegetable combinations to create meals.
Tax cuts proposed by President Donald Trump would mean more money for retailers to invest in their businesses as consumers continue to shift their spending to digital channels, NRF President and CEO Matthew Shay said. "This is consumers changing their behavior, and certainly there are big players like Amazon out there, but there are enormously big players like Wal-Mart and Target and Macy's and Home Depot who are investing extraordinarily in this experience," he said.
Google Home can now deliver recipes from Bon Appetite, Food Network, The New York Times and more via a step-by-step process that allows users to pause instructions and go back as needed. The app has been updated and now has 5 million recipes.
Samsung Electronics reported first-quarter operating profit of about $8.7 billion, a 48% increase from a year ago, while net profit was $6.8 billion, up 46% year-to-year. The company's chip business, with its dominant market share in DRAM and NAND flash memories, accounted for about $5.5 billion in operating profit for the quarter.
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