T.J. Maxx and Marshalls parent TJX Cos. continues to focus on brick-and-mortar growth while other retailers shift more resources to e-commerce, and it's moving forward with plans to add about 800 new stores in North America. The off-price retailer booked a 3% jump in quarterly same-store sales.
Coach's efforts to regain its reputation as a luxury brand brought an 85% jump in profits in the most recent quarter. Since launching its makeover plan three years ago, Coach has acquired Stuart Weitzman and Kate Spade, and rolled out a new luxury line.
Independent bookstores are competing with Amazon as the e-commerce giant opens brick-and-mortar stores. In addition to selling books, small players like Greenlight Bookstore in Brooklyn, N.Y., are turning their shops into event venues and community gathering spaces.
Amazon made $16 billion in bond sales Tuesday to shore up its planned acquisition of Whole Foods Market, sources said. The move marks the online retailer's fourth debt sale since 1998, and Moody's Investors Service upped the company's outlook to positive due to its pending Whole Foods purchase.
Publix Supermarkets has named Erik Katenkamp as its new vice president of omnichannel and application development, the company said Monday. "With dedicated resources, we will be able to focus on the accelerated growth of our omnichannel strategy," Publix President and CEO Todd Jones said.
Hy-Vee has transitioned all of the fresh and frozen seafood items sold at its 245 stores to environmentally responsible sourcing, the company said. The retailer has transitioned more than 5 million pounds of seafood to responsible sourcing since launching the effort in 2012, and the move makes Hy-Vee the first retailer in the Midwest to sell only responsibly-sourced seafood.
Chicago and its nearby suburbs have access to 262 grocery stores, which account for about 9.3 million square feet of retail space, marking the lowest amount in eight years, according to Mid-America Real Estate Group. The decline has been driven by a changing food retail industry that has seen disruption and bankruptcies, and the exit of retailers including Dominick's from the Chicago market.
Factory workers are leaving the industry at the fastest pace in 10 years, in part, because of low confidence in finding work elsewhere due to the low 4.3% unemployment rate. Others fear automation and robots will replace them.
Apple and Samsung have a strong hold on the US device market, with about 75% of users owning a smartphone from one of the two brands, per research firm comScore. Any companies that wish to compete in the mature market will need to advertise heavily, use strategic partnerships and employ direct sales, Shira Ovide writes.
Hormel subsidiary Applegate is rolling out its new Applegate Naturals No Sugar Bacon, which will hit grocery shelves this month. "With a growing demand for sugar-free options, we're excited to deliver a bacon that supports the needs of those looking to reduce their sugar intake, while upholding Applegate values-making products with humanely raised meats and simple ingredients," said Applegate's Nicole Glenn.
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