Millennials passed Generation Xers (born between 1965 and 1980) to become the largest share of the American labor force in 2015, according to the Pew Research Center. Now that this group makes up more than 34% of the workforce, Millennials are influencing many retail business strategies, including employee and shopper engagement.
Chain Store Age has launched our annual search for 10 individuals in retail real estate we call “retail stars;” all will be featured in the May 2017 issue of CSA with bonus distribution at the International Council of Shopping Centers’ RECon event in Las Vegas! The award recognizes people under the age of 40 who are making an impact in retail real estate – whether from the tenant (retail) or the landlord (shopping center company) side.
Will A. Smith has joined Abercrombie & Fitch Co. as chief marketing officer. Smith, who will report to president and chief merchandising officer Fran Horowitz, will be responsible for all brand, creative and digital marketing across the chain.
Fred’s Pharmacy confirmed its agreement to purchase divested stores remains in effect following Monday’s news that Walgreens Boots Alliance and Rite Aid extended the deadline for their potential merger agreement.
Walmart just upped the ante in the home shipping war against its rival, Amazon. The chain is ending its ShippingPass program, a fee-based, two-day delivery service, in favor of a free two-day shipping program. Shoppers can now order from more than two million items, and have merchandise shipped to their homes or stores without a membership fee.
Neil Saunders, CEO of retail research and consulting firm Conlumino, comments on Starbucks’ first quarter results in the remarks below.
Tractor Supply Company is celebrating the opening of its 1,600th store, which opened in Brentwood, Calif.
Walgreens Boots Alliance and Rite Aid on Monday morning extended their previously announced definitive merger agreement under which Walgreens Boots Alliance will acquire all outstanding shares of Rite Aid. The retail pharmacy operations also restructured a new deal that would value Rite Aid at between about $6.8 billion and $7.4 billion, depending on required store divestitures, down from an initial acquisition cost of $9.4 billion.
Starbucks Corp. is living up to its reputation as one of the nation’s most socially progressive retailers. On the heels of President Donald Trump’s indefinite suspension of Syrian refugees and temporary travel bans that apply to seven predominantly Muslim countries, the coffee giant pledged to hire 10,000 refugees to work at its stores around the world during the next five years.
Office Depot has named a successor to CEO Roland Smith, who previously announced his intention to retire from the company. The company also named a new chairman. The retailer has appointed Gerry P. Smith as CEO, effective Feb. 27. Smith currently serves as executive VP and COO of Lenovo Group, a $45 billion global technology company.