NEWS & INSIGHTS

  • The Art of War with Amazon

    Amazon recently posted its eighth straight quarter of growth. In fact, in the first quarter of 2017 its revenue grew by a jaw-dropping 23 percent, hitting net income of $724 million. Amazon Prime subscribership jumped to over 80 million members, representing a gravity-defying increase of 36 percent.

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  • Weekly Store Openings and Closures Tracker #8: Rue 21 Files for Bankruptcy; Macy’s Backstage Grows

    Fung Global Retail & Technology tracks store openings and closures for a select group of US retailers. Year-to-date 2017, the number of store closure announcements has increased 119% year over year to 3,658, outpacing the number of store opening announcements, which has increased by only 21% year over year to 2,872.

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May 18, 2017

BLOG
  • Moser and Local Business Leaders Discuss the Importance of Education

    The team at Scargo Hill Capital believes that we all have a responsibility to give something or some part of ourselves to others and to the communities in which we live and work. Last Thursday, May 11th  CEO Andy Moser joined business owners in the Boston community at Joe’s American Bar & Grille on the Waterfront to discuss education and employee initiatives with Mayor Marty Walsh.

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  • Is the $400B prescription drug business ripe for an Amazon disruption?

    CNBC reported yesterday that Amazon.com is hiring an executive to lead its entry into the pharmacy business. Two unnamed sources familiar with Amazon’s plans told CNBC of the planned hire as well as annual meetings the e-tail giant has held in recent years to explore a potential entry into retail prescription medicine sales.

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  • Store Traffic Numbers Show Shoppers May be Returning to Malls

    Are shoppers finally beginning to return to the mall? That seems to be the takeaway from the most recent store foot traffic data released by analytics firm Retail Next, offering a glimmer of hope for brick-and-mortar retailers dealing with stiff competition from e-commerce and omnichannel merchants.

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  • Walmart delivers in first quarter; online sales skyrocket

    Walmart showed its muscle in the first quarter, reporting a big jump in online sales, an increase in traffic at its U.S. stores, and earnings that beat the Street.  The chain’s U.S. same-store sales grew for the 11th consecutive quarter, rising 1.4% in the period ended April 30, just beating analysts’ estimates. Online sales surged 63%, compared to 29% growth in the last quarter.

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  • How a Lack of Liquidity is Tanking Retail—And Who’s to Blame

    Unprecedented. That seems to be the most appropriate word for what’s happening to apparel retail today. With store closures and bankruptcies threatening to top recession levels, insiders, analysts and the media are all on high alert. One after the other stores like American Apparel, The Limited, Gordmans, Bob’s Stores and Payless are all disappearing from malls. Retail bankruptcies in the U.S. are already on track to outnumber the total through all of 2016.

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  • Opening soon: Inside Lidl’s Blueprint to Invade the US Grocery Market

    After two years of rethinking grocery — and inspiring quite a bit of speculation among U.S. retailers, analysts, food manufacturers and shoppers — executives at discount supermarket chain Lidl shared their vision and master plan with members of the media at an event in New York on Tuesday night. Lidl will show even more of its hand on June 15, when the first Lidl stores in the U.S. open their doors, U.S. CEO Brendan Proctor announced at the event.

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  • Lidl to make U.S. debut June 15—with low, low prices

    German discount grocer Lidl is set to shake up the competition with prices that promise to turn up the heat on its U.S. competitors, who are already engaged in a price war. Lidl on Wednesday revealed the locations of the first 20 stores it will open this summer in the United States, starting on June 15. (See end of story for listing). The stores — in North Carolina, South Carolina and Virginia — are the first of up to 100 locations the grocer plans to open across the East Coast by next summer.

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  • Teen apparel retailer Rue21 files for Chapter 11 bankruptcy

    Rue21 has been in the midst of a turnaround since an executive suite shake-up instituted in October by private equity owner Apax Partners shortly after credit ratings firm Fitch Ratings warned Rue21 could slip down the slope to bankruptcy. The company replaced General Merchandise Manager Kim Reynolds as well as CEO Bob Fisch, who together had run the company for some 15 years. Keith McDonough, who had been CFO for 13 years, has since served as interim CEO while the board of directors searches for a permanent chief executive.

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