Industry News – March 22nd, 2017

Curated fashion industry news links for Wednesday, March 22nd, 2017…

FIRST LOOK: TARGET’S NEXT-GENERATION STORE CONCEPT – ChainStoreAge
“Target Corp. has unveiled its next-generation store format, which will make its debut in Richmond, Texas, a Houston suburb, in October. In addition to the new 124,000-sq.-ft. Richmond store, 40 additional Target locations will receive elements of the redesign when they are updated, also in October.”

INSTAGRAM ROLLING OUT SHOPPING FEATURE TO MORE APPAREL, JEWELRY AND BEAUTY BRANDS – Pret-a-Reporter
“On Tuesday, Instagram revealed that after a successful trial period for its shopping feature, which was implemented by 20 brands last November, the social media platform is rolling out the capabilities for more apparel, jewelry and beauty brands in the US.”

HERMÈS NET PROFIT JUMPS TO $1.22 BILLION – FootwearNews
“Hermès International said net profit rose 13 percent in 2016 to 1.10 billion euros, or $1.22 billion, representing 21.2 percent of sales.”

HOW MACY’S NEW CEO PLANS TO STOP THE BLEEDING – Fortune
“After working at Macy’s (M, -3.68%) for some 34 years, Jeff Gennette is about to step into his dream job: On Thursday, he becomes chief executive officer of the iconic but imperiled department store chain.”