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Sears Announces Bankruptcy Filing, Reorganization

Hoffman Estates, Ill.-based department store Sears has announced its Chapter 11 bankruptcy filing in federal courts in New York. The New York Times reports that the company has negotiated a $300 million loan from Wall Street to maintain its inventory and salaries for employees. Sears is expected to remain operational at least through the holidays.

The company, which possesses $11.3 billion in liabilities and $7 billion in assets, is slated to shutter more than 142 stores in order to reduce costs. Sears has lost roughly $5.8 billion in the last five years.

Sears currently operates a lineup of nearly 700 retail stores.

The post Sears Announces Bankruptcy Filing, Reorganization appeared first on design:retail.

Walmart Acquires Bare Necessities

Bentonville, Ark.-based retail giant Walmart has acquired online lingerie retailer Bare Necessities for an undisclosed sum. The acquisition is the company’s second purchase of an apparel retailer in the last month, occurring shortly after Walmart’s acquisition of Eloquii.

CNBC reports that Bare Necessities will continue to operate its individual website as a standalone brand, while co-founder and CEO Noah Wrubel will oversee the intimates category of walmart.com and jet.com. Additional details on earnings have not been made public.

The post Walmart Acquires Bare Necessities appeared first on design:retail.

MSGM Opens First London Store

Italian streetwear brand MSGM has opened its first European retail space outside of Italy in the Brompton Cross section of London. The company’s first store in London is housed within a former Chanel storefront across two floors and nearly 2,000 sq. ft. WWD reports that creative director Massimo Giorgetti oversaw the crafting of the store’s interiors with a flair reflective of the brand as well as London.

Venetian terrazzo floors are installed beneath unpolished, exposed ceilings, and the space also features aluminum and semi-reflective steel walls. Japanese plan artist Satoshi Kawamoto was tapped to create a dehydrated plant installation for the space.

The post MSGM Opens First London Store appeared first on design:retail.

8K TV Shipments to Reach More Than 400,000 Units in 2019, IHS Markit Says

Dateline City: LONDON Contacts Lee Graham, (917) 806-7902
Lee.Graham@ihsmarkit.com

Advanced TV technologies poised for growth, including OLED, 8K and quantum dot, as robust large-screen growth continues

After declining unit-shipment volumes in 2017, global TV shipments are forecast to grow 3.6 percent year over year in 2018, with additional 1.4 percent growth in 2019, according to a new report from business information provider IHS Markit (Nasdaq: INFO).

Of the 226 million TVs expected to ship in 2019, more than half will be ultra-high-definition (UHD) models, the majority of which are 4K. However, 8K TVs from major global TV brands will launch toward the end of 2018, kicking off the next wave of resolution transition, the report says.

Language: English

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Walmart Announces Plans for Original Content

Bentonville, Ark.-based retail giant Walmart has revealed plans to launch a short-form original series through it ad-supported streaming service Vudu. The New York Times reports that the retailer will partner with Metro-Goldwyn-Mayer and New York-based startup Eko, which focuses on interactive storytelling that allows viewers to control the plot of commercials and television episodes. Walmart has invested $250 million in the emerging business, which it will likely collaborate with for entertainment and advertising content.

The post Walmart Announces Plans for Original Content appeared first on design:retail.

ASPORT to Debut Second Location in Luxembourg

Contemporary sportswear retailer ASPORT is set to launch its second sneaker club next month at the Luxembourg shopping center Concorde. Referred to as Scoop (86), the outpost will be crafted by designer Stijn Nachtergaele to exude versatility as both a retail space and a meeting place for sneaker aficionados. Contrasting metallic surfaces and raw, unpolished materials, the interior also will be outfitted marbled elements. The hexagonal, origami-like façade of the first store will be reinterpreted as part of the interior design.

The post ASPORT to Debut Second Location in Luxembourg appeared first on design:retail.

Vineyard Vines Opens Massachusetts Pop-Up

Stamford, Conn.-based lifestyle apparel brand Vineyard Vines has announced the opening of a new pop-up location at the Patriot Place shopping and entertainment hub in Foxborough, Mass. Paying homage to the company’s New England roots, the new pop-up will include custom products from the New England Patriots and the Boston Red Sox. The temporary retail space will also feature a video projection screen, a turf wall and in-store cornhole games. Gift boxing, embroidery, personalization and curbside pick-up will also be available onsite.

The post Vineyard Vines Opens Massachusetts Pop-Up appeared first on design:retail.

Harrods Taps Tiffanie Darke

London department store Harrods has created a new editor-in-chief position as part of an editorial and marketing strategy shift, with Tiffanie Darke tapped for the role. As part of efforts to unify editorial platforms, Darke joins Harrods from A+E Networks in New York, where she worked as editor-in-chief for the History, Biography and A&E channels. WWD reports that prior to her time in the United States, Darke lent her expertise in the United Kingdom to Method for News U.K. and The Sunday Times.

Darke and her team of contributors will collaborate with existing editorial staffers at Harrods, reporting to Amanda Hill, the company’s marketing and customer chief.

The post Harrods Taps Tiffanie Darke appeared first on design:retail.

The Home Depot Adds Manuel Kadre to Board

Atlanta-based hardware retailer The Home Depot has announced the appointment of Manuel Kadre to its board of directors. Kadre, who will serve on the board’s finance and audit committees, has served as chairman and CEO of MBB Auto Group since 2012. He previously served as CEO of Gold Coast Caribbean Importers.

“I’m very pleased to welcome Manny to our board of directors,” says Craig Menear, chairman, CEO and president of The Home Depot. “His service on other boards, including service as chairman and lead independent director of two public companies, further enhances our board’s capabilities in the areas of management oversight, corporate governance and board dynamics.”

The post The Home Depot Adds Manuel Kadre to Board appeared first on design:retail.

Ware Malcomb Promotes Heather Groff

International multidisciplinary design firm Ware Malcomb has announced the promotion of Heather Groff to director of interior architecture and design. Operating out of the firm’s New York office, Groff will spearhead the interior architecture and design studio while also overseeing the management of the New York office at large. With more than 20 years of industry experience to boast, Groff first joined Ware Malcomb as a studio manager in 2014. An LEED Accredited Professional, she is a graduate of the Wentworth Institute of Technology and has served on the board of directors for the New York Chapter of the International Interior Design Association.

“Heather has been with Ware Malcomb since the opening of our New York office in 2014, and since that time she has helped guide the growth of the office while elevating the design quality of the entire region,” says Bill Sotomayor, regional director.

“Heather is highly skilled at taking client objectives and translating them into tailored design concepts that capture both big-picture vision and crucial details. I am confident that Heather’s talent and leadership skills will help guide the future success of the New York office,” adds Principal Michael Bennett.

The post Ware Malcomb Promotes Heather Groff appeared first on design:retail.

Graphic Trends Celebrates 35th Anniversary

Los Angeles-based in-store display company Graphic Trends is celebrating its 35th anniversary along with subsidiary Expressive. Since launching in 1975, the company has expanded from a modest garage space to two manufacturing facilities in Southern California and Xiamen, China. Graphic Trends also has gone on to garner a portfolio of clients including Universal Studios, 20th Century Fox, Sony Pictures, Nike and Whole Foods Market.

“Enthusiastic, strategic and creativity is our lifeblood; we are in constant pursuit of the next great concept, and our executional masterminds are always up for the challenge of bringing store display design to life,” says Kieu Tran, Graphic Trends founder and president. “What we do turns heads, shake common misperceptions and push boundaries. We are forever on the hunt for big ideas and something to integrate into an idea…and there’s nothing better than finding a client who’s ready to dive in with us.”

The post Graphic Trends Celebrates 35th Anniversary appeared first on design:retail.

IHS Markit and ChinaBond Pricing Center Launch New Benchmarks for Onshore Chinese Bond Market

Dateline City: SHANGHAI

New iBoxx™ ChinaBond indices expand foreign access to $12 trillion Chinese bond market

SHANGHAI--(BUSINESS WIRE)--Business information provider IHS Markit (Nasdaq: INFO) today announced the launch of new onshore Chinese bond market indices in alliance with ChinaBond Pricing Center Co., Ltd. (CBPC), a subsidiary of China Central Depository and Clearing Co., Ltd. (CCDC), the leading pricing provider for the world’s third largest fixed income market.

Language: English Contact:

IHS Markit
Danny Cheung, +65 6439 6132
danny.cheung@ihsmarkit.com
or
Timothy Barello, +1 646 679 3463
timothy.barello@ihsmarkit.com

Ticker Slug: Ticker: INFO Exchange: NASDAQ @IHSMarkitFinSer

.@IHSMarkitFinSer and ChinaBond Pricing Center Launch New Benchmarks for Onshore Chinese Bond Market

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The Cost of a Recall

Courtesy of RFID Journal

 

Last week, the U.S. Department of Agriculture’s Food Safety and Inspection Service announced that Arizona-based meat producer JBS Tolleson was recalling approximately 6.5 million pounds of “various raw, non-intact beef products” due to an outbreak of salmonella. The service found that JBS beef was the source of 57 cases of salmonella illness throughout 16 states between Aug. 5 and Sept. 6 of this year (see 6.5 Million Pounds of Beef Recalled Due to Salmonella Outbreak).

The reason so much beef had to be recalled, I believe, is that there would be no way to determine which products had been contaminated if the company conducted a more limited recall effort, and thus no way to be sure that all possible contaminated beef was removed from shelves. Of course, it might very well have been feasible to do that had a radio frequency identification tracking system been in place.

Companies rarely, if ever, include the potential savings during a recall when calculating the return on investment (ROI) they could achieve from deploying an RFID system. That’s because they assume (or hope) they will never have a major recall. But perhaps businesses, particularly those in the food and pharmaceutical industries, should consider the potential benefits, instead of dismissing RFID outright as too expensive.

If you assume the cost of the beef JBS recalled was $3 a pound at retail, that means the company lost $18 million due to the salmonella outbreak. Add in the expense of logistics and overtime for workers, and the cost may have topped $20 million. The company might also lose business from customers concerned about another outbreak.

An RFID solution might have cost $1 million to $2 million to install (that’s a guess, as I don’t know how many facilities the firm operates, or what its business processes are). There might be an ongoing cost of $200,000 a year for tags. That’s expensive, but if the company were able to recall a third less beef because it had the ability to trace the source of the bad beef and thus only recall tainted products, it might have saved $10 million or more of the $20 million recall cost.

I would not advocate investing in an RFID solution solely to manage a potential recall. But RFID could substantially save a meat producer operational costs on an ongoing basis, and would likely deliver an ROI within a span of two or three years. When you factor in the additional potential benefits during a recall, investing in an RFID system seems like a no-brainer.

Mark Roberti is the founder and editor of RFID Journal.

The post The Cost of a Recall appeared first on design:retail.

Do you have a small food business? New regulations could apply to you

If your business is in the food industry, see how the new Safe Food for Canadians Regulations that come into effect in January may apply to you.

Shopify Opens First Retail Space

E-commerce platform Shopify has entered the brick-and-mortar world with a new retail concept conceived as a hub for local business owners to network and learn. Located at the Row DTLA in Los Angeles, the 3,000-sq.-ft. downtown space will host workshops and demos, while also showcasing furniture and décor from Shopify merchants. WWD reports that 65 percent of the interior will be dedicated to fashion and apparel.

Shopify is not currently eyeing any future expansion in brick-and-mortar.

The post Shopify Opens First Retail Space appeared first on design:retail.

Hugo Launches First Store Outside London

German fashion brand Hugo Boss and announced the launch of the first standalone Hugo store outside of London. The menswear concept will launch at the Bullring Estate, Birmingham—one of Europe’s most popular retail destinations. It is the second Hugo store to open in the United Kingdom. The 3,000-sq.-ft. outpost will be appointed with lounge areas as well as a bar. A community wall will anchor the interior, showcasing live updates from the brand’s Instagram page.

The post Hugo Launches First Store Outside London appeared first on design:retail.

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