Lord & Taylor is working with Xcel Brands to accelerate its supply chain and reduce the need for markdowns, a necessity as the department store competes with fast-fashion retailers. Buyers from Lord & Taylor work directly with designers from the factories that make their products, saving time and costs by cutting out the middlemen.
Many retailers including Home Depot, Nordstrom, Costco and Lowe's will close on Thanksgiving this year, according to sites that track stores' Black Friday plans. Target, Wal-Mart and other national retailers will start announcing their Thanksgiving weekend plans soon, and some have already released their hot toy picks for 2016.
Whole Foods Market opened an 18,000-square-foot store in Chicago's Englewood neighborhood this week, giving one of the city's poorest neighborhoods a place to buy fresh and organic foods. The retailer has striven to stock local products and hire employees from the neighborhood.
Ubisoft CEO Yves Guillemot told investors that Nintendo's forthcoming NX console is "a fantastic machine." Guillemot said the company is taking a "a new approach" with the NX that could return Nintendo to being a major contender in consoles.
Best Buy will open 350 of its stores at midnight Oct. 13 to let gamers nab PlayStation VR headsets the minute they become available. A limited number of headsets will hit shelves the next morning at all Best Buy locations.
Arduino aims to raise $500,000 on Kickstarter for its ESLOV IoT Invention Kit, which lets user turn hardware into an internet of things device by attaching sensors. The kit comes with a Wi-Fi hub and a set of sensors -- button, buzzer, LED, GPS and more -- for $99 for the entry-level version.
Japanese fast-fashion retailer Uniqlo is set to open its first Canadian store at Toronto's Eaton Centre today, a two-story flagship featuring the brand's full line of women's, children's and men's basics. The retailer hopes to win with an appeal-to-all approach instead of courting a specific demographic, said executive Yasuhiro Hayashi.
Ad spending spent across multiple platforms and a creative approach that knits them together are among the approaches found to be most effective in a study by the Advertising Research Foundation. It also found that pairing TV ads with digital can boost return on investment 60%.
Chat platform Kik launched a fashion and beauty bot category that uses artificial intelligence to create the feeling of shopping with friends. Retailers including H&M and Sephora are among the first to sign up for branded bots that give them a new way to connect with customers.
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