Amazon will open a brick-and-mortar bookstore in Chicago next year, building on the concept created when the online retailer opened its first store in Seattle last year. The concept combines traditional books and Kindle devices, and lets shoppers buy onsite or place online orders.
The hedge fund controlled by Sears Holdings CEO and majority shareholder Edward Lampert will loan the retailer $300 million, the company said Thursday after reporting a $395 million second-quarter loss. The retailer, which has been selling assets and closing stores to cut costs, will also shutter its 40-year-old anchor store at Minnesota's Eden Prairie Center in November.
China's first Disney store opened in Shanghai last year to a mile-long line of people who waited eight hours for the 54,000-square-foot store to open. The store opened more than a year before Disney's new Shanghai theme park, and its initial mission was less about selling trinkets and more about introducing Chinese consumers to Mickey Mouse and friends.
Restaurant chains are turning to social media channels including Facebook, Slack and Twitter to make mobile ordering easier and eliminate the need to take up smartphone space with more apps. Chains including Wingstop, Pizza Hut and Taco Bell are experimenting with conversational ordering systems and chatbots to boost social ordering.
Outback Steakhouse and Carrabba's Italian Grill parent Bloomin' Brands is looking to Latin America for future growth, said spokeswoman Cathie Koch. The Florida-based restaurant operator has hired an international real estate firm to help it expand in several markets, including Brazil, Chile and Argentina.
Steven Cook has resigned as Holt Renfrew's top merchandising executive after five years with the high-end Canadian department store operator, the company said. Mario Grauso will add Cook's duties to his own when he takes over as president next month.
Best Buy will be showing off Facebook Oculus Rift VR headsets in 500 stores and Sony PlayStation VR in 200 stores over the next few months. "The performance of virtual reality at Best Buy will be a very good indicator of how successful the VR movement will be," said Keybanc Capital Markets retail analyst Brad Thomas.
Online fashion retailer Revolve has introduced "style codes" that Snapchat and Instagram users can enter to go directly to product pages and make purchases. Products listed with codes quickly land on the brand's best-seller list, Revolve Vice President of Brand Marketing Raissa Gerona said.
J.C. Penney unveiled appliance showrooms at two Minnesota stores last week and will debut six more in the state Friday as part of a push to put the big-ticket items in 500 of its 1,000 US stores by year's end. Penney's will showcase up to 215 dishwashers, refrigerators and other appliances in the showrooms and offer more than 1,000 other models online.
Old Navy topped the list of back-to-school destinations, with 51% of moms and 41% of millennials saying they planned to shop at the Gap-owned retailer, according to an RBC Capital Markets survey. Both groups also named T.J. Maxx and Kohl's in their top five, H&M and Forever 21 rounded out the millennials' list while moms chose J.C. Penney and Ross Stores.
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