David's Bridal filed for bankruptcy protection Monday, with a plan to reorganize and emerge by mid-January. The 68-year-old retailer posted a video of CEO Scott Key reassuring brides-to-be that the filing won't interfere with business, and customers with orders in progress each received an email with tracking information and delivery dates.
About 164 million US consumers will shop during the long Thanksgiving weekend and 116 million plan to spend on Black Friday, according to NRF data. Hitting the stores the day after Thanksgiving remains a tradition for many US consumers, despite the rise of online shopping.
Cartier will close its temporary store on Fifth Avenue in New York City on Christmas Eve and reopen in a 4,669-square-foot space at the Shops & Restaurants at Hudson Yards next year. The new shopping center will be anchored by Neiman Marcus and include other luxury retailers including Rolex, Piaget and Van Cleef & Arpels.
UK-based stationery and book retailer WHSmith has signed franchisee King Power Group to open its first stores in Hong Kong. WHSmith already has a presence in six other Asian countries, and it recently acquired North American airport-based retailer InMotion.
Fashion brand Ted Baker is strengthening its wholesale partnership with Nordstrom, as other brands are moving more toward direct-to-consumer sales. The brand will start using NuOrder, a platform that will let it share digital catalogs with Nordstrom and allow for collaboration with the retailer.
Resolution Property will open a new premium outlet mall at the Ocean Terminal in Edinburgh, Scotland, next year, the company said. The property, which will be renamed Porta, is expected to be similar to Resolution centres in Denmark, France and Germany.
Bots and other technology advances will be necessary to help Alibaba Group meet crushing consumer demands, company President Michael Evans says. "We are highly, highly focused on the logistics experience, and when you are delivering 70 million packages a day, every day, it's impossible to keep track of everything with humans," he says.
US retailers are more vulnerable to hacking than their European and Asian counterparts, according to Jason Glassberg, co-founder of Casaba Security, a "white hat" hacking firm that regularly analyses new malware and hacking techniques used by criminal groups. Glassberg spoke with NRF's STORES magazine about why retailers are a popular target and how retail response teams can keep up with hackers. Read more.
Sales in the business-to-business e-commerce market are expected to hit $1.2 trillion within two years, and Kellogg Co. is positioning itself to compete in the growing sector, says Chief Revenue and E-commerce Officer Monica McGurk. Kellogg has yet to release a B2B e-commerce strategy, but says relationships with distributors and wholesalers will be part of its focus.
Companies that begin using technology early to unlock innovation and advances in product development will see bigger returns than those late to the game, according to this McKinsey & Co. analysis. The authors suggest working with customers to find pain points and limiting big investments to a few key areas.
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