Wed.Sep 07, 2022

article thumbnail

Target CEO to Remain in Leadership Role as Company Eliminates Retirement Policy

Retail TouchPoints

Target has received a commitment from CEO Brian Cornell to remain with the company for approximately three more years, beyond the company’s traditional retirement age of 65. Cornell’s decision to remain in the leadership role was made following last month’s news of Target’s Q2 2022 performance, which saw net earnings drop 90% from Q2 2021. After receiving the commitment from Cornell, who is 63 years old , the board of directors eliminated Target’s retirement policy.

article thumbnail

LSKD to open first of six planned physical stores in Melbourne

Inside Retail

Sportwear apparel brand LSKD will open its first Melbourne brick-and-mortar store at Chadstone Shopping Centre. The store is the first of five planned for Australia, with another set to open in New Zealand, all within a year. The store features a retail space of 154sqm and will display core styles as well as new collections. With grey as the main colour running throughout the store concept, the brand aims to highlight its “chase the vibe mission” with a black facade and walls decorations d

Planning 245
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Human Experience Transcends Customer Experience Across Generations

Retail TouchPoints

Humans need other people to feel human — the importance of connection at that fundamental level simply cannot be overstated. Brands, in their never-ending quest for relevance, must dive deep into human experiences, connecting with consumers at an emotional level. Before these connections can be manifested in the built environment, however, the foundation begins with a strong brand culture and purpose.

article thumbnail

Victoria Leeds welcomes five new dynamic retail brands

Retail Focus

Victoria Leeds has strengthened its position with the addition of five new retailers. Where contemporary meets traditional, Victoria Leeds is leading the way in new shopping trends with a progressive approach to retail and its new announcements; home-grown, UK independents meet in-demand fashion and lifestyle brands, as well as avantgarde concept stores.

Boutique 200
article thumbnail

From Data to Decisions: Maximizing Retail Potential with AI

Speaker: David Azoulay, Marc Stracuzza, Román Tejada, and guest speaker Sucharita Kodali

Imagine a retail landscape where every interaction is personalized, every decision informed, and every opportunity maximized 🤔✨ Join us for an exploratory journey into the heart of AI-driven retail innovation. We’ll unveil the transformative potential of AI and data analytics in shaping the future of omnichannel personalization and e-commerce.

article thumbnail

Reuters: Kohl’s Mulls Sale-Leaseback of Properties Worth as Much as $2 Billion

Retail TouchPoints

Private equity firm Oak Street Capital has reportedly made an offer to acquire between $1.5 billion and $2 billion worth of property from Kohl’s , people familiar with the matter told Reuters. Under the terms of the agreement, the retailer would then lease back its stores. Kohl’s operates 1,100 locations and it is unknown how many would be sold to Oak Street as part of the deal.

Finance 278
article thumbnail

Bullring & Grand Central secures 27,500 sq ft JD Sports upsize for Summer 2023

Retail Focus

Hammerson has announced that JD Sports will more than double its presence in Bullring & Grand Central, in a clear signal of the destination’s strength as well as a firm commitment to Birmingham as a thriving city. . JD Sports, which has been at Bullring since 2003, will open a new 27,500 sq ft store on the lower level. The new store will stock even more ranges from brands such as Nike, Adidas, Under Armour, and Converse, covering footwear, fashion, and accessories.

More Trending

article thumbnail

Ikea’s newest store in Australia is a fraction of the size. Here’s why

Inside Retail

Swedish furniture giant Ikea is launching its first Plan and Order store in Australia later this month. The small-format space aims to create a more intimate experience for customers looking to renovate or upgrade their homes. Located in Melbourne’s Highpoint Shopping Centre, the new store will be approximately 300sqm, a fraction of the size of the typical Ikea store, which is usually around 25,000sqm.

Shopping 130
article thumbnail

Some companies push workers harder to return to offices than others

Retail Wire

Sixty-nine percent of mid- to large-sized employers are requiring workers who can do their jobs remotely to return to the office at least some of the time, according to Gartner. Twenty-six percent want their employees at their desks three days a week. Seventeen percent require workers to show up twice a week and four percent ask workers to come in once a week.

Returns 130
article thumbnail

Why cryptocurrency crashes are tanking luxury watch prices

Inside Retail

Cryptocurrency is at a historic low, losing nearly US$1.9 trillion ($2.8 trillion) in value since the height of a massive rally in 2021. Bitcoin prices, now down 70 per cent since its peak of nearly US$69,000 in November, are struggling to stay above US$20,000. At the same time, Ethereum, the second most popular digital currency, has also seen a similar decline, while other digital currencies have little to no value.

article thumbnail

Robots are called on to help optimize supply chain operations

Retail Wire

A lack of workers, rising labor costs and other factors have created growing demand for autonomous solutions to supply chain challenges. Nathan Ray, director of distribution center operations at Albertsons, said that robots are able to address labor issues that companies face. “You can find a solution that’s right for your budget. There’s just so many options out there,” he said.

ATS 130
article thumbnail

The Personalization Playbook: 2024 Strategies

Did you know—74% of IT leaders are looking to improve their tech stack to offer better personalization? It’s impossible to ignore the importance of personalization, but it comes with challenges. How do you do it with a tight budget? What about customer privacy and the use of data? The Personalization Playbook is packed with research and insights from Orium, Talon.One, and Bloomreach and gives IT leaders answers to these tough questions, helping them shape 2024 strategies for personalization.

article thumbnail

High-low: Bianca Spender, Nobody Denim join forces as consumers go casual

Inside Retail

A shared passion for local manufacturing and craftsmanship is at the heart of an unlikely pairing between designer fashion label Bianca Spender and local jeans brand Nobody Denim. The two businesses have been collaborating for the last nine months on a limited-edition collection that combines Bianca Spender’s sophisticated tailoring and romantic drapery with the more workaday garments on offer at Nobody Denim.

Consumer 130
article thumbnail

UPS and the Teamsters look ahead to contract negotiations

Retail Wire

UPS and the Teamsters union are expected next spring to begin negotiating a new contract to replace the current agreement, which expires in July of next year. A strike could significantly affect the national economy as six percent of the U.S. gross domestic product is tied to UPS’s delivery services. The union is seeking higher wages and improved working conditions for its members.

130
130
article thumbnail

Instagram to scale back shopping features amid commerce retreat

Inside Retail

Meta Platforms Inc’s Instagram is planning to drastically scale back its shopping features as it shifts the focus of its e-commerce efforts to those that directly drive advertising, the Information reported, citing an internal memo. Staff were notified that Instagram’s existing shopping page will eventually disappear, according to the report on Tuesday.

Shopping 130
article thumbnail

Target ends age rule to let Brian Cornell remain as CEO after he turns 65

Retail Wire

Target is scrapping its retirement rules to allow Brian Cornell, 63, to stay on as the company’s chief executive officer past his 65th birthday. Mr. Cornell has committed to leading the retailer for at least three more years.

ATS 130
article thumbnail

Mapping Digital Transformation: Retail’s Strategic Shift

Speaker: Jennifer Wright, Michael Scholz, Jasmin Guthmann, and Scott Canney

Digital transformation in retail is so much more than new technology. You need to get your whole organization, from entry-level workers to executives, on board with the new tech, new skills, and culture changes that digital transformation brings. Leading this mindset shift can be a daunting task… but that’s where this webinar comes in! Join our panel of experts as they guide you through the challenges of digital transformation, preparing you to avoid common mistakes and make the most of incredib

article thumbnail

Is the quest for exceptional digital experiences outpacing your IT resources and expertise?

Cisco Retail

Exceptional digital experiences do not happen by chance . In today’s fast-changing business world, IT teams face a range of challenges as they work to bring exceptional digital experiences to market and to their customers. These challenges can vary from choosing the best strategy, talent, and expertise to implementing and managing execution risks. .

article thumbnail

20 Small Business Financing Options

Small Biz Trends

If you’re like most small business owners, you’re always on the lookout for new small business financing options. In this article, we’ll explore 20 different financing options for small businesses such as traditional bank loans. So whether you’re just getting started or you’re looking for something new, read on to find the perfect financing option for your small business.

Finance 134
article thumbnail

Opioid trial begins, putting Kroger, Walgreens and Walmart on the defense in New Mexico

Retail Wire

The state of New Mexico is suing Kroger, Walgreens and Walmart for failing to police the distribution of prescription opioids to its citizens. New Mexico Attorney General Hector Balderas said the three retailers dispensed more than 550 million opioid pills between 2006 and 2019, the equivalent of more than 263 for every person living in the state. The retailers said that their pharmacists exercised their “professional judgment” in distributing the meds and did not “knowingly

100
100
article thumbnail

Spotlight: Genium Connects Companies With Top Technical Talent

Small Biz Trends

It’s often difficult to find an amazing small business team. And the talent pool is even smaller for those that require workers with specific technical skills. Luckily, Genium helps businesses with this important element of growth. Read about the company’s journey below in this week’s Small Business Spotlight. What the Business Does.

Marketing 130
article thumbnail

Planning the Architecture of Your Modular DXP

Are you considering moving away from a monolith platform and over to composable architecture? Join experts from Google Cloud, GroupBy, and Orium as they discuss the benefits of moving to a modular digital experience platform. In this masterclass, uncover key indicators that show your brand is ready for a modular DXP, and learn how to lay the foundation for composable commerce.

article thumbnail

Teamsters launch a new division to organize Amazon’s workers

Retail Wire

The International Brotherhood of Teamsters has launched a new division with a sole focus on organizing workers at Amazon.com. “Our new division affords a nationwide network of resources to all Amazon workers, behind the wheel of any truck or hard at work in any facility, to strategize with the union, mobilize in their communities, and succeed together,” Teamsters General President Sean O’Brien said in a statement.

ATS 100
article thumbnail

Cisco’s next move in the Media and Content Provider industry with Intel

Cisco Retail

I love looking at trends and guessing where the next innovation is coming from. It is kind of like guessing what kind of presents you will get on your birthday or what your class will be like when you start grade-school. Either way, I get excited about new things. That excitement leads me to share several innovations, partnerships and success stories as Cisco prepares to attend the International Broadcast Convention (IBC) Sept. 9-12 in Amsterdam.

Planning 128
article thumbnail

Bed Bath & Beyond names interim CFO

Retail Wire

Lauren Crossen, chief accounting officer at Bed Bath & Beyond, has been tapped to take over as the retailer’s interim chief financial officer following the death on Friday of former CFO Gustavo Arnal.

article thumbnail

The path to sustainability travels through the cloud

Cisco Retail

Sustainability isn’t just about doing good for the environment or society at large — it’s also good for business. Here are just a few reasons to operate a more sustainable business: . Reputation: Millennial business buyers and talent consider a company’s commitment to environmental sustainability as an important factor in deciding to move forward with business deals and job offers, according to research by organizations like Deloitte.

article thumbnail

How Personalized Customer Experiences Drive Retail Growth and Revenue

Speaker: Shaunna Bruton - Associate Director of Product Strategy at Orium | Sam Panzer - Director of Industry Strategy at Talon.One | Frank Passantino - Director of Product Management at Bloomreach

More and more, customers are expecting a better personalized CX. But can retailers actually deliver? Data from McKinsey shows that companies that excel in personalization increase their revenue by 40%, but despite these numbers, retailers struggle to implement customer personalization strategies. So what are the potential solutions? Join us to gain a better understanding of the current retail landscape and learn what you can do to translate personalization strategies into practical implementatio

article thumbnail

Lowe’s CMO departs as part of a corporate reorg

Retail Wire

Lowe’s chief marketing officer Marisa Thalberg has left the home improvement retailer as part of a corporate reorganization that will see its marketing team move under Bill Boltz, executive vice president of merchandising. Lowe’s online team, which previously reported to Mr. Boltz, will now report to Seemantini Godbole, Lowe’s chief digital and information officer.

Marketing 100
article thumbnail

Reebok lines up new CEO to lead post-Adidas strategy

Retail Dive

Todd Krinsky has worked at the brand for 30 years and replaces Matt O’Toole, who will become executive vice chairman of parent company Authentic Brands.

ATS 124
article thumbnail

Customer Behavior in Retail

Cisco Retail

In an industry known for its intense competition. Personalization of a shopping experience can drive a 40% larger basket (transaction size) according to the Boston Consulting Group. But, how can retailers better understand their customers, particularly in-store, in order to personalize the experience? From the arrival of the first online retailers, and the eCommerce channel many have established, the retailer has maintained visibility of how customers behave on their site.

article thumbnail

Nike’s new material could ‘change the apparel industry,’ CEO says

Retail Dive

The brand's Forward material is created through a production process that uses less energy than traditional knits and wovens.

Apparel 134
article thumbnail

Retails Next Frontier: Exploring and Proving the Value of AI

AI is everywhere. It’s in customer service interactions, product recommendations, marketing outreach, and yes, even commerce experiences. But not every use of AI provides the same value to your brand. In this masterclass, experts from Constructor, commercetools, Contentstack, and Orium discuss how AI can complement your composable tech stack and help bring in immediate ROI.

article thumbnail

The Latest USDA Grants for Farmers and Agriculture Businesses

Small Biz Trends

Agriculture is a competitive field with a lot of uncertainty. Farm grants often fill in the needs of those in this business who need some financial stability while expanding or developing new products and offerings. There are many grants for farming in various locations and with different requirements or niches. Here are a few USDA farm grants that may apply to various agriculture businesses throughout the U.S.

article thumbnail

Target CEO Brian Cornell signs on for 3 more years as chief

Retail Dive

The company changed its retirement policy for the executive, who led it through multiple upheavals and a $40 billion expansion in its sales.

121
121
article thumbnail

California Court of Appeal Narrows Reach of ADA and Unruh Civil Rights Act as They Apply to Ecommerce Businesses

Hunton Andrews Kurth

In an August 2022 decision, the California Court of Appeal, Second Appellate District, held that retail websites without any connection to a physical space, such as a brick-and-mortar store, do not constitute “places of public accommodation” and, thus, are not within the purview of Title III of the American with Disabilities Act (“ADA”) or the Unruh Civil Rights Act (the “Unruh Act”). .

article thumbnail

6 Ways Farfetch is Disrupting Luxury Retail

Indigo 9 Digital

By Tricia McKinnon and Emily McCullough It’s almost hard to believe there was a time when the luxury industry shunned online sales. But it’s true. The prevailing wisdom at the time which hasn’t gone completely away is that you can’t translate a high touch experience, one often involving thousands of dollars, online. Then the COVID-19 pandemic hit and consumers around the world were forced to shop online sending digital sales to levels never seen before.

article thumbnail

2024’s Retail Odyssey: Going Small, Artificial, and Augmented!

Speaker: Kelly Goetsch - Chief Strategy Officer at Commercetools | Jason Cottrel - CEO & Founder at Orium | and guest speaker Brendan Witcher - VP, Principal Analyst at Forrester

Significant modifications are on the horizon for digital commerce in retail and customer experience come 2024. The pace of tech shifts will intensify, businesses are set to defund legacy solutions, and attractive opportunities will surface as social and retail media players join forces. To stay ahead of the curve, digital leaders are experimenting with less risky initiatives and scaling back on outdated projects that no longer yield impactful results.