From a new POS malware to new North American store openings, here are some happenings in the world of retail to keep an eye on this week.
Looking at discount retail: With the announcement of a merger with Family Dollar and Dollar Tree rocking the discount retail scene, all eyes are on what rivals Wal-Mart and Dollar General will do to vamp up efforts to compete. Last week, Wal-Mart recently acquired Pinterest-like Luvocracy, and Dollar General announced a partnership with Coupons.com to up its omnichannel possibilities.
Luxury handbag earnings: Michael Kors reported earnings Monday, posting a strong quarter of growth with profit and revenue up from a year earlier. Look for Kors’ rivals in the hot luxury handbag market, Coach and Kate Spade, to report later this week.
“Backoff” malware: Last week, the United States Computer Emergency Readiness Team announced the prevalence of a POS malware that has been found in three separate investigations. The malware has the ability to access consumers’ names, mailing addresses, and contact information, as well as track credit card numbers. Retailers should pay attention to recent developments, as well as take measures to protect corporate networks and web servers.
Alibaba chatting up Snapchat: Rumors abounded late last week of investing talks between social media startup Snapchat and Chinese e-retail giant Alibaba. Watchers are speculating that with a potential investment from Alibaba, Snapchat could be valued at $10 billion.
North American expansions: Both Target and Aeropastale, Inc. have opened stores across the U.S. border, with a new P.S. from Aeropastale store in Mexico last month, and three new Target stores opening in Canada Monday. Expansions beyond the U.S. have been a tricky feat for some American retailers—particularly Target—but for both companies, the busy back to school time seems to be the best session for a successful launch.
Eyes on Frameri: Looking to compete with popular eyeglass retailer Warby Parker, Frameri glasses has launched after raising a $750,000 seed round. The startup offers frames with interchangeable lenses that run around $100, a creditable business model that might be able contend with Warby Parker’s low cost/high design idea.
As always, be sure to check out the Retail Dive app throughout the day for up-to-date news and features on the retail industry.
