Amazon booked another quarter of double-digit revenue growth, fueled by growth in both e-commerce and web services, the company said Thursday. Amazon Prime membership grew 36% in the first quarter from the same period last year, to 80 million subscribers.
Kit and Ace will shutter all its US, Australia and UK stores and focus on selling its fashions online and at nine locations in Canada. The brand, which sells fashions made from technical fabrics, was launched in 2014 by Lululemon founder Chip Wilson, and by last year it had expanded to include 61 international stores.
Barnes & Noble has promoted Chief Operating Officer Demos Parneros to the CEO post, succeeding Ronald Boire who left last August after less than a year. Parneros, the bookstore chain's fourth chief executive in four years, held an executive post at Staples before joining Barnes & Noble.
Macy's held its seventh annual The Workshop at Macy's, a more than four-day event consisting of informational sessions for women and minority business owners in New York City. This year's event included an in-store showcase at the retailer's flagship in Herald Square, where the 11 participants had a chance to show off their wares to the public.
Luxury brands and high-end retailers say the nature of their industry keeps them largely immune to competition from mass-market players including Wal-Mart and Amazon. "Luxury shoppers, particularly younger ones, are open to buying those products online, but they want the experience to feel high-end," said Rachel Krautkremer of research firm Cassandra.
German discount grocer Lidl has widened its search for US store sites to include Pittsburgh, Erie and other areas in Western Pennsylvania and Ohio markets including Cincinnati and Dayton, sources said. The retailer is getting ready to open its first 20 US stores on the East Coast this summer, with plans to operate 100 stores in the US within a year.
Hy-Vee will open a new small-format concept store potentially named Hy-Vee Fast & Fresh in West Des Moines, Iowa, as part of a 65-acre mixed-use development that is slated to begin construction in the summer. Plans for the 12,000-16,000-square-foot store are still in development and will include grocery and fuel offerings and could also feature curbside grocery pickup.
Sony sold over 20 million PlayStation 4 consoles by the end of the fiscal year ended March 31, which helped the company recover from a poor profit period. The company's mobile division declined 32.7%, while overall revenue dropped by 6.2%, per company data.
Landmark Group, the Dubai-based parent of Spar hypermarkets, will roll out a new retail concept as part of its expansion plan in India. Spar, which has 18 hypermarkets in India with plans for up to six more in 2017, will create a new format that falls between the hypermarket and the supermarket, said Rajeev Krishnan, CEO of Spar in India.
Sales of air conditioners and electric fans in South Korea surged this month, as hotter-than-average spring days raised the specter of a scorching summer. Air conditioner sales jumped 180% at electronics retailer Lotte HiMart and over 144% at discount retailer E-Mart.
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