French commercial property company Unibail-Rodamco will purchase Australia-based mall operator Westfield in a deal valued at $24.7 billion, including assumed debt, the companies said. Westfield owns 35 US and UK shopping centres and has been seen as a leader in the effort to reinvent malls to stay competitive in the age of e-commerce.
The Cheesecake Factory's large portions and cheese-heavy menu have been a shock to the system of many Chinese consumers visiting the chain's first restaurant in Hong Kong. While other Western concepts tailor their menus and portion sizes for the Hong Kong market, California-based Cheesecake Factory sticks with the model that has made it a success.
DHL eCommerce, a division of Deutsche Post DHL, has hired a CEO for India and is assembling a team to launch a dedicated e-commerce logistics network in the country, sources said. E-commerce in India is on track to hit $200 billion in gross merchandise value by 2026, according to Morgan Stanley.
As the largest external driver of consumer need, weather is more than just a conversation-starter for retailers. In the latest episode of NRF's Retail Gets Real podcast, the team chats with Planalytics Executive Vice President of Global Services Evan Gold about how weather changes affect holiday-season retail. Listen to the episode here.
Kloeckner Metal Corp., the US subsidiary of Kloeckner & Co., plans to follow in its German owner's footsteps by adopting a digital culture that will attract younger talent, says incoming CEO John Ganem. The company also has a young-leaders program that connects employees in the US and elsewhere.
Use a model such as the Balanced Scorecard or SCOR to get the most out of a supply chain performance-management system, writes Tan Miller of Rider University. Using a hierarchical framework enables function-specific goals and "relatively few, high-level, strategic measures (e.g., between 10 and 25) that monitor overall corporate performance," Miller writes.
Terry Lundgren will step down as Macy's executive chairman on Jan. 31, completing the retirement process started last year that included handing the CEO reins to Jeff Gennette in March. Gennette will become board chairman when Lundgren leaves.
Belk department stores will start selling fashions from The Limited, giving the brand its first brick-and-mortar retail presence since it filed for bankruptcy and shuttered its namesake stores early this year. The Limited has also launched a revamped e-commerce site, and both the Belk line and online offerings will include plus-size styles.
Imports at US ports are on track to rise 1.5% in December, as retailers replenish holiday merchandise, according to an NRF report. "Retailers are doing last-minute restocking as consumers head toward the finish line of the shopping season," NRF Vice President Jonathan Gold said.
J.C. Penney has teamed with Bombfell.com to launch a subscription fashion service for big-and-tall men. Stylists will curate collections based on data collected from subscribers, who will have seven days to try on the fashions in each box and decide whether to buy any or all of the pieces.
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