As Malls Reinvent Themselves, Department Stores Will Need to Rethink and Redesign

Retail Touch

As the American mall undergoes a period of radical reinvention, department stores are being brought along for the ride. As department stores and retailers change, the central question is how do you bring people back ?” Department Stores’ Return to Their Roots.

Report: Selfridges Seeks $5.5B Sale as UK Department Stores Continue to Struggle

Retail Touch

Selfridges ’ owners have launched a formal auction to sell the department store chain, which has been valued as high as £4 billion ( $5.5 A successful deal could see two of the UK’s most historic department stores coming together under a single owner.

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Macy’s Declines to Spin Off Ecommerce Operations, Citing ‘High Execution Risk’

Retail Touch

Board of Directors announced that the company’s ecommerce operations will remain integrated within the larger business, not spun off into a separate company. . Following better-than-expected Q4 and full-year 2021 results, the Macy’s, Inc.

Department stores aren’t going away, but 3 big things still need to happen

Steve Dennis

It’s been a long, slow slide for department stores. In addition, Sycamore looks to be picking at the carcass of Bon-Ton Stores and Lord & Taylor is selling its iconic Manhattan flagship to WeWork. For many, this unrelenting parade of bad news leads them to believe that department stores are toast. But just as the retail apocalypse narrative is nonsense , so is the notion that department stores are going away.

Is this the beginning of a department store renaissance? Eh, not so much.

Steve Dennis

Then Kohl’s followed up with a similarly surprising upside report that led some to conclude that maybe, just maybe, the long-beleaguered department store sector might be seeing a resurgence or—dare we say it out loud?—the Without this shift, same-store sales would have increased only about 1.7% Penney and Sears ( and now Bon-Ton ) have been leaking volume through store closings and comparable store sales declines.

Department stores may take malls down with them

RetailWire

Mall operators have long counted on anchors, typically department stores, to attract shoppers who also visit other retailers and restaurants on their visits. With a growing number of department stores closing locations or going out of business altogether, malls are having to quickly adapt if they want to survive.

Department store quarterly performance: Better isn’t the same as good

Steve Dennis

Last week we had five major department stores report their quarterly earnings: Macy’s , Kohl’s , Nordstrom , Dillard’s and JCPenney. The main reason is that department stores failed to innovate. There is no fundamental reason why any given department store cannot not have a viable operation with hundreds of physical locations, particularly when we realize that some 80% of all products in core department store categories are purchased offline.

Kohl’s Makes its Case to Investors with Plans for Additional Sephora and Small-Format Stores

Retail Touch

We delivered record EPS [earnings per share] in 2021 and achieved our operating margin goal two years ahead of schedule, reflecting our progress to drive more profitable growth.”. Kohl’s is also doubling down on its partnerships with Sephora and Amazon Returns to drive foot traffic to stores.

Saks Fifth Avenue lays off store operations employees

RetailDive

The department store confirmed the workforce cuts as part of a shift in strategy, but declined to say how many or which employees will be let go

Boscov’s Enhances Website Experience with Unified Commerce Solution

Retail Touch

Family-owned department store chain Boscov’s is upgrading its ecommerce ecosystem through an expanded partnership with unified commerce platform Kibo. Currently marking its 107th anniversary, Boscov’s operates 48 department stores in the Northeast and Mid-Atlantic.

‘Heritage Sometimes Isn’t Enough’: Ralph Lauren CEO on the Brand’s Reinvention

Retail Touch

But this unchartered territory does create opportunity for experimentation: Ralph Lauren has a virtual coffee shop in Roblox where avatars can meet and have a cup of coffee, and shoppers can visit a virtual version of the Ralph Lauren store on Madison Avenue in New York City.

Debenhams to Find New Life Online with Acquisition by Boohoo

Retail Touch

Storied British department store chain Debenhams , which entered administration for the second time in April 2020, will live on online following the acquisition of its brand and websites by U.K.-based

J.C. Penney operations are out of Ch. 11 with Simon-Brookfield deal closed

RetailDive

With bankruptcy behind it, the department store chain can once again focus wholly on its business as it tries to turn around in a tough environment

Macy’s Returns to Profitability in Q4 Despite Same-Store Sales Dip; Digital Grows 21%

Retail Touch

Macy’s Q4 and full-year 2020 results show signs of a turnaround for the department store, hard hit, like many of its counterparts, by the COVID-19 pandemic.

WSJ: Saks Fifth Avenue Pursuing IPO for its Digital Operations

Retail Touch

Saks was last valued at $2 billion in March 2021 when the company split off its ecommerce business from the brick-and-mortar operations, now called SFA.

Nike Shows No Brand Is ‘Too Good’ For Amazon

Retail TouchPoints

Nike has forged a strong direct-to-consumer (DTC) push, aiming to cut product creation cycle times in half and uniting its web site, stores and digital products under a single team called Nike Direct. If Nike — one of America’s most influential brands over the past three decades — is willing to make this jump, then it’s certainly an option retailers should take seriously, especially if their in-store or online channels aren’t selling up to par.

Nordstrom Launches Beauty Packaging Recycling Initiative

Retail Touch

Nordstrom has launched BEAUTYCYCLE, a recycling program that allows customers to bring their empty beauty product packaging to any of the retailer’s full-line stores or Nordstrom Local service hubs in the continental U.S.

How Amazon’s ‘Trench Warfare’ Against Unions Could Damage its Consumer Confidence

Retail Touch

Depending on the outcome from a month of mail-in voting that ended March 30, approximately 5,800 workers at the facility, BHM1, could gain the right to join the Retail, Wholesale and Department Store (RWDSU) union. with more than 500,000 in these types of operational roles.)

Report: JCPenney Cuts 650 Jobs Across Operations as it Seeks New Texas HQ

Retail Touch

JCPenney has cut 650 jobs across its stores, field operations and corporate offices, totaling approximately 1.5% The retailer also closed 242 stores during its restructuring process last year, which culminated in a sale to Simon Property Group and Brookfield Asset Management.

Neiman Marcus names new supply chain and technology chiefs

Retail Dive

The department store retailer has been sorting out its finances, digital operations and executive leadership over the past few years

Hudson's Bay appoints CFO

Retail Dive

Nadira Singh is taking the role at the HBC-owned brick-and-mortar company, recently separated from the department store's e-commerce operations

Macy's Backstage opening 45 shop-in-shops

Retail Dive

Betting big on off-price, the department store will operate 10 more spaces than originally planned, along with more freestanding stores

Saks e-commerce company preps IPO: WSJ

Retail Dive

The department store's brick-and-mortar and online operations split up in March, and some investors want Macy's to follow suit

Macy's mostly sticks to 'Polaris' turnaround after brutal pandemic year

RetailDive

The department store is stoking its e-commerce and off-price operations in anticipation that its recovery will gain strength in the back half of the year

Lord & Taylor to permanently close 19 stores

RetailDive

The department store and owner Le Tote, an apparel rental site, are still operating, and the company said it's seeking a buyer for both businesses

Bloomberg: Belk Will Pursue Bankruptcy to Restructure $2.6 Billion Debt

Retail Touch

The move would mark a reversal of Belk and Sycamore’s earlier plan , which would have helped the struggling department store avoid bankruptcy altogether. News Briefs Store Operations bankruptcies Belk sycamore partners

Belk to Pilot Conn’s Shop-in-Shops in up to 20 Stores

Retail Touch

Regional department store retailer Belk will host shops featuring products and services sold by Conn’s HomePlus in 10 to 20 locations as part of a pilot program that will kick off over the next few months. Belk operates nearly 300 stores across the Southeast U.S.,

Macy’s adding Backstage shops to 36 stores

Retail Wire

Macy’s is expanding the number of department stores it operates with Backstage shops by 26. The off-price store within the store will measure from 11,000 to 18,000-square-feet depending on the location. in-article

Reports: Sears to Sell or Redevelop Headquarters in the Chicago Suburbs

Retail Touch

Sears has been downsizing its operations for several years and, like many companies, has been working with a mix of in-person and remote work during the pandemic. News Briefs Store Operations bankruptcy downsizing real estate Sears transformco

Belk Files for Chapter 11, Plans ‘One-Day Reorganization’

Retail Touch

133-year-old department store chain Belk has formally filed for bankruptcy after announcing plans two weeks ago for an expedited “one-day reorganization.” 23, will see Belk continue normal operations at its 291 stores and online throughout the restructuring process.

Juganu Provides Customer Insights and Enhanced Safety Through Smart Lighting

Retail Touch

The Foam was designed to make retail locations “smart” by providing retailers with suggestions to improve operations, and creating more personalized shopping experiences for their customers. Data & Analytics Solution Spotlight Store Operations juganu smart lighting solution spotlight

Report: Westfield Parent Aims to Sell its U.S. Mall Properties by Late 2023

Retail Touch

Mall operator Unibail-Rodamco-Westfield SE (URW) is reportedly looking to divest most of its U.S. The mall operator’s current leadership came into power in 2020 after an activist investor campaign against the former management’s plans for a dilutive-rights issue worth $3.8

Top 50 Global Retailers: Walmart and Amazon Still Lead, Alibaba Drops Out of Top 10

Retail Touch

Discount and value retailers Schwarz Group (with its Lidl and Kaufland banners), Aldi and Costco also remained in the Top 10 this year, as did international supermarket operators Carrefour and Ahold Delhaize and furniture giant IKEA. Walmart and Amazon have retained their No. 1 and No.

Sephora Plans 260 New Stores for 2021, Including 60 Freestanding Locations

Retail Touch

Sephora is continuing its move away from malls with the announcement of the largest store expansion in its 21-year history in the U.S. More than 260 new stores are slated to open this year, including 60 freestanding locations and 200 shop-in-shops inside Kohl’s department stores.

Kohl’s Could be Just Weeks From a Sale Despite Weak Q1 Results and Two C-Level Departures

Retail Touch

Poor Q1 results and the departure of two senior executives could further ramp up pressure for the department store retailer to sell itself. News Briefs Retail Movers & Shakers Store Operations

Belk Adds Same-Day Delivery Option

Retail Touch

Department store retailer Belk will provide same-day delivery on select merchandise for orders placed before 2 pm, with delivery the following day for orders coming in after that time.

Dillard’s posts 518 percent gain in profits

Retail Wire

Dillard’s operates 250 department stores and 30 clearance centers across 29 states. Dillard’s reported a profit of $197.3 million in the third quarter, up from $31.9 million last year. in-article

Sears closing its last store in Michigan

Retail Wire

Sears is closing its location at Westland Shopping Center, its last remaining department store in the state of Michigan. Eight independently-operated locations continue to operate under the Sears Hometown banner in the state. in-article

Former Sears stores are up for sale

Retail Wire

Seritage Growth Properties, a real estate investment trust spun off by Sears Holdings five years ago, is looking to sell between 40 and 50 of the locations that once operated under the department store’s banner. in-article

Macy’s Picks New Bluemercury CEO as Rightsizing and Revitalization Efforts Continue

Retail Touch

Bernstein will oversee the growth and strategy of the entire Bluemercury brand both in-store and online, and will report to Tony Spring, Chairman and CEO of Bloomingdale’s. Retail Movers & Shakers Store Operations bloomingdales bluemercury CEO Macy's Polaris

WSJ Report: Amazon And Simon In Talks To Turn Vacant Mall Anchors Into DCs

Retail Touch

According to CoStar data from Q1 2020, before JCPenney’s bankruptcy filing in May and its announcement of the pending closure of 242 stores , the retailer had a presence in 48% of all U.S. Sears, which has been shrinking its store count for years, was a tenant in only 14% of U.S.

Positive Q1 Results: Lululemon, Lands’ End and Macy’s did More than Just Regain Lost Ground

Retail Touch

million ; international revenue growing 125% ; and operating margin increasing 1,080 basis points to 15.8%. “We Kohl’s , where Lands’ End is now available both online and at 150 stores, was credited as the largest contributor. Store Operations Lands' End lululemon Macy's q1 results

Stein Mart Files For Chapter 11, Considers Closing All 281 Stores

Retail Touch

In filing for bankruptcy protection, discount department store Stein Mart has raised the possibility of closing “a significant portion, if not all, of its brick-and-mortar stores,” according to a statement.