Wal-Mart ended in-store price-matching programs at its stores in Minnesota this month, building on a test launched at select stores last year to roll back a program established during the recession. Only about 5% of shoppers were taking advantage of the retailer's offer to meet rivals' prices.
Staples is in advanced talks to be acquired by Sycamore Partners, a private-equity firm that could pay as much as $6 billion for the office supply retailer with more than 1,500 stores in the US and Canada, sources said. The retailer's planned merger with rival Office Depot was killed on antitrust concerns last year, and taking the company private could speed its efforts to shift focus from consumers to businesses.
About 86% of consumers surveyed enjoy shopping in stores that offer experiences and a chance to try out products before buying them online, according to a survey from GPShopper and YouGov. Specialty retailers such as Ulta Beauty and Lululemon Athletica are using experiences to win over shoppers, while many others are still struggling to make the transformation.
Nike will start selling some of its footwear and apparel directly to Amazon as part of a shift by the brand to reach out directly to consumers as store traffic slows, sources said. Rivals Under Armour and Adidas already have similar deals in place with Amazon.
Kroger has been preparing for and is ready to face the competition from German discount grocer Lidl, which has begun opening its hundreds of planned US stores, Chief Financial Officer Mike Schlotman said Wednesday. He also said Kroger is well-positioned to face the future of the Amazon-Whole Foods deal, with its $16 billion in annual natural and organic food sales, which exceeds Whole Foods' total yearly sales.
China's e-commerce website, JD.com, held an 18-day sales event celebrating the company's anniversary on June 18, and brought in $17.6 billion in sales. The company reports increasing its sales volume by 50% from last year.
India's Reliance Retail will partner with Saucony to launch retail sales of the US-based brand's sneakers in the country, a source said. Reliance has already begun testing sales of the shoes in Reliance Footprint stores.
Mental toughness means thinking of challenges as opportunities to overcome, writes LaRae Quy, who lists seven ways of thinking to get away from. Don't pretend pain or negativity can be avoided, or that emotions can't surface, and don't pretend you're nothing but a victim, she writes.
J.C. Penney has refinanced $2.35 billion in debt and extended the maturity date to 2022, further strengthening its financial position after paying off $300 million in debt last month. The moves come as the retailer is working to expand sales in several categories including women's apparel, appliances and home goods.
- Page 1