Abercrombie & Fitch has been making changes with the ultimate goal of growing into a $5 billion global lifestyle brand, CEO Fran Horowitz told analysts this week. "As I have said many times, there are no silver bullets, just the results of painstaking intentional hard work over several years," she said.
Instagram is increasingly becoming an online shop for social-savvy fashion fans on the hunt for one-of-a-kind and vintage pieces. Social shopping ventures are just starting to take off and they could provide a model for major merchants looking to boost digital sales, EMarketer Analyst Andrew Lipsman said.
Nintendo has announced that CEO Tatsumi Kimishima will step down and be replaced by Shuntaro Furukawa. Nintendo's operating profits increased 505% in fiscal 2017, driven by the Switch console, and Kimishima said it was the right time to step down.
Kohl's has succeeded in winning new shoppers without alienating loyal customers over the past year, said Kevin Mansell, who will hand the CEO reins to Michelle Gass next month. Same-store sales rose more than 6% during the holiday quarter, and athletic apparel from Nike and Under Armour as well as a partnership with Amazon have boosted performance at the 1,200-store retailer, he said.
Artist Couture CEO Angel Merino got his start at the makeup counter of MAC Cosmetics and now has a deal with NYX Cosmetics for the company's makeup masterclasses. The brand's products launched in Sephora stores in the US and Canada earlier this year, and the retailer will sell exclusive Artist Couture holiday sets this year.
Triangle Rock Club will open its third rock-climbing facility and gym in a 107,000-square-foot former Walmart store in Durham, N.C., one of the latest examples of new uses for spaces left empty as retailers adjust their store counts. "I wouldn't call it a trend anymore, it is here to stay," CBRE retail real estate expert Charlie Coyne said.
Richline Group, Asahi Refining, Helzberg Diamonds and LeachGarner will link with IBM to create blockchain technology that tracks diamonds and precious metals through the supply chain. The effort, called TrustChain, will work to ensure the materials are ethically sourced.
UPS proposed voluntary buyouts to some management workers in an effort to reduce its nonoperational costs. The company hopes to realign those funds to more-profitable business sectors, including managing the growth in online shopping.
Wegmans is preparing to open a two-level store in a Natick, Mass., mall on April 29. The store will include a cart conveyor system in its central atrium to help customers move between levels and a walkway connection to the adjacent parking garage.
McDonald's will change from plastic to paper straws at all 1,300 UK locations starting next month to help cut down on the amount of plastic that goes into the trash.
- Page 1