Brian Cornell, chairman and CEO of Target Corp., and Mindy Grossman, CEO and director of HSN, are among the headliners at Shoptalk 2017, the nex-gen retail and e-commerce event. Also on the bill: Devin Wenig, president and CEO of eBay.
Source: Shoptalk reveals speaker lineup
Starwood Retail Partners’ $100 million renovation of The Shops at Willow Bend in Plano, Texas, will add genuine life to its re-imagined entertainment component. North Texas Performing Arts and its Plano Children’s Theatre will make its new headquarters in a 23,000-sq.-ft. space at the mall, which is also getting eight chef-driven restaurants, a 30,000-square-foot fitness center, and new retailers including Crate & Barrel and Restoration Hardware.
Source: Texas mall re-do to include a performing arts center
Restoration Hardware has brought its vision of luxe home living to Las Vegas. The upscale home furnishings retailer opened a four level, 60,000-sq.-ft. store, at Tivoli Village, that includes an entire floor dedicated to its new RH Modern concept, complete with an integrated contemporary art gallery.
Source: Luxury home furnishings retailer does Vegas
A big mall developer thinks Aerospostale still has plenty of life left in it. Simon Property Group, along with General Growth Properties and several other companies, bought the failing chain out of bankruptcy in September. Speaking to a group of investors last week, CEO David Simon expressed confidence in Aeropostale’s ability to regain momentum.
Source: Report: Aeropostale has potential to become a 500-store chain—again
The upcoming United States presidential election is so tumultuous that it’s influencing shoppers to pull back holiday shopping plans. With the election falling in the middle of holiday shopping, many U.S. consumers said they will have a more conservative holiday spending budget this year, according to the National Retail Federation’s annual consumer spending survey, a report that tapped 7,733 consumers about holiday shopping plans.
Source: Report: Holiday shoppers waiting until post-election
An extended holiday season could translate into an 11% increase in online sales with mobile devices leading the charge. Adobe’s “2016 Digital Insights Shopping Predictions” report predicts that 53 consecutive days (57 calendar days in total) will exceed $1 billion in online sales, compared to 31 consecutive days last year — a 71% year-over-year (YoY) increase.
Source: Adobe: Holiday online sales could hit record-breaking $91 billion
Based on its third quarter earnings, Carter’s predicts that is on its way to its 28th consecutive year of sales growth. The brand specializing in babies and young children’s apparel and accessories reported a net sales increase of 6.1%, totaling $901.4 million. The company credits this growth on its U.S. Carter’s and OshKosh retail businesses, Carter’s wholesale business, and international segment.
Source: Carter’s hits ‘record sales’ in Q3
Despite gains in the third quarter, Amazon’s stock fell 6% in extended trading. The pure-play retailer’s net sales increased 29% to $32.7 billion for the third quarter ending Sept. 30, 2016, compared with $25.4 billion in third quarter 2015. The company credits the jump to $52 million in year-over-year changes in foreign exchange rates throughout the quarter.
Source: Amazon Q3 earnings jump, but still miss mark
Office Depot is giving holiday shoppers almost a month-long head start on the season. The office supplies company is kicking off Black Friday and Cyber Monday deals on Oct. 30 — a move that it anticipates will save its loyal shoppers time and money this holiday season. Deals will be available at stores, as well as on the Office Depot’s website.
Source: Office Depot launches early Black Friday deals
The nation’s largest auto dealership chain is expanding its brand into new areas of the automotive retail sector. AutoNation announced it will debut a new format, a standalone concept called AutoNation USA, that will be dedicated to used-car sales and also serve as service centers, offering scheduled maintenance and repair work along with express service. The company has identified 25 sites to launch the concept, with five expected to open in 2017.
Source: AutoNation to open new format, sell auto parts