Nasty Gal is getting a new lease on life — but only in the digital space. The brand, which was acquired out of bankruptcy in early February by British online fashion group Boohoo.com, will live on under new leadership as a pure player. Nasty Gal recently closed its two brick-and-mortar stores, both of which were in the Los Angeles area.
Source: Nasty Gal to live on
A regional department store, a warehouse giant, a discount supermarket and an online powerhouse rank among the nation’s favorite retailers. That’s according to the American Consumer Satisfaction Index, which rates consumers’ satisfaction across six retail industries. The report found that satisfaction with the overall retail trade rise 4.7% in 2016 to a score of 78.3 (on a 100-point scale) an all-time high for the sector.
Source: Survey: America’s favorite stores are…
A record 68% of the U.S. population will make at least one purchase via a digital channel in 2017. That’s according to eMarketer’s 2017 Retail Outlook, which projects another strong year for digital growth. The report forecasts that e-commerce sales will increase 16.0% in 2017 to $462.17 billion, while total retail sales will grow 3.5% to $5.01 trillion.
Source: eMarketer: Led by mobile, digital sales growth set for another record year
The off-price segment continues to be one of the brightest spots in brick-and-mortar retail. Ross Stores on Tuesday reported earnings per share for the fourth quarter ended January 28, 2017 of $.77, up 17% from the prior year, on net earnings that rose 14% to a better-than-expected $301 million. But the retailer offered a cautious outlook amid economic and industry challenges. Ross’ sales quarter grew 8% to $3.5 billion. Same-store sales increased 4%.
Source: Off-pricer tops earnings expectations
In the wake of a disappointing quarter, Target Corp. is making long-term investments in its future. The discounter plans to spend $7 billion in cash during the next three years as it lowers its prices and invests in its stores, with renovations planned for some 600 locations, reported CNBC. “We can’t capture that market share if we’re presenting an old, tired store,” Target CEO Brian Cornell said.
Source: Report: Target in store renovation push