H&M isn’t letting a weak second quarter performance stand in the way of its ambitious expansion plans. The Swedish retailer’s profit in the quarter, which ended May 31, fell 17% to 5.357 billion Swedish kronor ($649.6 million), according to MarketWatch, as unusually cool weather dimmed sales of spring clothing and a strong U.S. dollar added to its costs. The strong dollar will have a negative impact on purchasing costs for the third quarter and a neutral effect in the fourth, the chain said.
Apple is training the next generation of coders — in its stores.
Macy’s longtime CEO, Terry Lundgren, will step down in the first quarter of 2017, to be succeeded by a company veteran. Lundgren, who has been CEO of the department store giant since 2003, is stepping down as the retailer finds itself challenged with a transformed retail landscape and changing consumer demands. He will be succeeded by Jeff Gennette, 55, who was named president of Macy’s in 2014 after serving as chief merchandising office since 2009.
The roster of speakers for the Aug.
Long dependent on low prices to draw customers to stores, Walmart is trying a new traffic-boosting tactic: fun. According to Advertising Age, the discount giant is testing a variety of in-store “retail-tainment” events, which are often operated and funded entirely by third parties backed by brand sponsors.
Ikea is submitting plans to the City of Norfolk, Virginia, to open a 331,000-sq.-ft. store. Pending approvals, construction of the proposed store could begin in spring 2017, with an opening in summer 2018. The retailer said it would evaluate potential on-site power generation to complement its current U.S. renewable energy presence at nearly 90% of its U.S. locations.
Meijer is on the move again. The company on Tuesday opened a 192,000-sq-.ft. supercenters in Flossmoor and Round Lake Beach, Illinois. The two new stores are part of an investment of more than $400 million in new and remodeled stores that Meijer is making this year, which is creating 3,000 new jobs across the Grand Rapids, Mich.-based retailer’s six-state foot print.
Circuit City is reportedly getting closer to a relaunch.
After 44 years of service, Donna Giordano, president of the Ralphs division of The Kroger Co., is retiring. Giordano’s retirement from the company will be effective July 23. She joined the company’s King Soopers banner as a courtesy clerk in 1972, while still in college, and was named store manager at King Soopers in 1982. Giordano later held various director-level positions in key areas, including advertising, bakery, general merchandise, grocery, and pharmacy.
Source: Longtime Kroger exec retires
The American Express card is now history at Costco Wholesale Club. As of June 20, Costco is accepting only Visa-branded credit cards chain wide. The retailer made headlines last year when it announced that, after 16 years, it was dropping American Express as its exclusive credit card provider and switching to Visa.