Appliances from refrigerators and ranges to blenders and toaster ovens have become hot sellers lately, spurring Best Buy to dedicate more floor space to the category. "This year we will reduce space allocated to the negative growth and low-margin categories and replace it with higher-gross categories like mobile, appliances and accessories," said CEO Hubert Joly.
Florida Attorney General Pam Bondi has proposed a bill that would crack down on organized retail theft rings, with increased sentencing guidelines that would result in 21-month jail sentences for people convicted of stealing goods worth $50,000 or more from retailers. The measure would also extend the statute of limitations on retail theft to five years.
Barneys New York is closing its Co-Op on West 18th Street in March, while reportedly shopping for space to open a second Manhattan flagship that would include a Co-Op department. Finding the right space will likely prove the biggest challenge -- the current flagship takes up about 230,000 square feet.
Attendees at Retail's BIG Show this week will get a chance to check out the latest in design and in-store experience during walking tours. Stores featured on the tour include Uniqlo, Anthropologie and Nordstrom's treasure & bond.