Innovative merchandising created through collaboration among retailers and suppliers requires careful planning and dedication, but it can be a powerful driver of incremental sales if executed properly, according to presenters at an FMI2012 session here.

Bloomingdale’s 520,000-square-foot New York flagship is undergoing a 100,000-square-foot renovation to update the bridge, contemporary, home, shoes and jewelry departments of its designer floor. The project is estimated to cost $50 million, reports Women’s Wear Daily.

Retailers are moving past the old idea of multichannel retailing and focusing on creating an omni-channel customer experience that is seamless across all available shopping channels.

Hubert Joly, the new Best Buy CEO who is just 10 weeks on the job, said recently that the time has come for the big-box retailer to stop fighting the showrooming trend. Instead, the executive said, Best Buy should be working to leverage mobile shopping habits to its advantage.

The Ann Taylor brand operates online and at 272 stores. Its target category is called the “better” priced category. The Loft brand has 501 store locations and competes in the “upper moderate” priced category. There are also 169 Ann Taylor Factory and Loft Outlet stores.