Retail Roundup—Starbucks closes digital store; Target's new innovation officer

Starbucks
Starbucks is closing its online store.

Starbucks to close online store

Starbucks announced it will close its online store for good and is discounting items up to 50% in the final days. After shuttering the digital store on Oct. 1, Starbucks plans to focus on its physical stores and will continue to sell its bags of coffee and other nonperishable items on third-party seller sites. (Business Insider)

Investors put confidence back into Abercrombie

Abercrombie & Fitch had shares jump 17% this week as the Hollister brand's comparable sales rose 5% and the namesake brand only fell 1% rather than the expected 2%. The better-than-expected performance boosted investors' confidence that efforts to revive the flagship brand are taking hold. (Fortune)

7 in 10 shoppers says social media encourages brand transparency

In a recent survey by Sprout Social, many U.S. internet users revealed that they believe social media has given them a voice to expose unfair treatment from brands. In fact, 8 out of 10 said social media helped to uncover brands treating people unfairly and 7 out of 10 said it helped encourage transparency. (eMarketer)

Target picks new chief strategy and innovation officer

Target has named Minsok Pak as the new chief strategy and innovation officer as the retailer continues to focus on the core business. Pak was most recently senior vice president of Lego's stores and e-commerce sites around the world. He will replace Casey Carl, who left in the spring after several of his projects were dismantled. (Star Tribune)

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