Retail Roundup: Sears Revamps Site, Blockbuster Finds Flexibility, and More

Sears revamps Web site with “first-of-its-kind” technology — Sears has partnered with IBM and My Virtual Model to bring the retailer’s entire catalogue into the third dimension, marking the first time a retailer has done so. The technology, slated to go live in October, allows consumers the chance to create virtual replicas of their bodies that can “try on” virtual clothing. H and M and Lands’ End, which is owned by Sears, are among the retailers already using My Virtual Model. [Source: IBM]

Ebay, Amazon gain more universal recognition — Several retail giants stole a little extra spotlight this year by moving up the ranks of Interbrand’s list of the top 100 global brands. EBay was named the 46th biggest brand (last year it was the 48th), while Amazon was named the 58th biggest brand, a significant rise from last year’s position in the 62nd slot, according to the consulting firm’s rankings. Another surprise: Apparel retailer H and M made the list for the first time, nabbing the 22nd spot. Information on the methodology behind the rankings here. [Source: Interbrand]

Retailer closes ‘Gap’ between U.S. markets and those in Egypt — Officials from Gap Inc. announced that the retailer is set to make a few milestone expansions in coming months by opening the first Gap stores in Egypt and Jordan by the end of the year. The company also unveiled plans to set up shop in Bulgaria, Croatia, Cyprus, and Russia in the next five years. [Source: FashionUnited]

Holiday sales to get small lift — The National Retail Federation (NRF) released dire predictions for retailers this week, estimating a scant 2.2 percent increase in sales for the holiday season. The paltry gain predicted by the trade group rests well below the 10-year average of 4.4 percent growth during the holidays. More on holiday retail predictions here. [Source: Dayton Business Journal and National Retail Federation]

Build-A-Bear shuts down doll-making chain amid economic struggles — Build-A-Bear announced that the company will be closing its spin-off chain, Friends 2B Made. The nine stores, which feature make-your-own dolls, are slated to be closed by the end of the third quarter of the fiscal 2009. CEO Maxine Clark blamed a slowdown in discretionary consumer spending for the closure and said the company will focus on its Build-A-Bear product. [Source: Build-A-Bear Media Relations and ToyNewsOnline]

Blockbuster CEO tells analysts of company’s newfound flexibility — CEO James Keyes told Wall Street analysts that the company is altering its business model to encompass diverse digital entertainment hinged on e-commerce. The retailer has seen significant losses recently; in the second quarter, Blockbuster posted a net loss of $41.9 million on sales of $1.3 billion. The company’s new Web site lets consumers, buy, rent, download, or subscribe. [Source: internetretailer.com]