Here are some interesting stories from the world of retail for Tuesday, May 7: 🛋️ Shares of Beyond, Inc. — the parent of Overstock and Bed Bath & Beyond — fell after it reported a deeper-than-expected loss and said it was trying to draw more committed customers amid weak home-goods demand. 🚛 Kohl's’s is now offering same-day delivery via the Instacart app. Using Instacart, customers can place orders for same-day or scheduled delivery from 1,172 Kohl’s locations nationwide. 🎯 Target is expanding its partnership with Hudson's Bay in Canada, broadening the sales of its in-house Cat & Jack children's brand to include swimwear, outerwear, and shoes. The move comes after positive feedback. 🚚 Wholesale remains most profitable investment channel for brands. The channel, which is expected to grow 51% this year, accounts for about 60% of companies’ total sales. 🏬 A fourth Bloomie’s location is set to open in New Jersey this fall, part of the parent company Macy's ongoing strategy to tap into more luxury sales with a new small format strategy. 👷🏼♂️ Kroger is planning to spend approximately $45 million in 2024 to remodel 15 stores in Ohio and Indiana. Kroger is highlighting investments in its stores as it presses ahead with the Albertsons merger. 🍓ALDI USA, the American arm of the German-owned discount supermarket chain, has urged its suppliers to cut costs, increase production, and focus on sustainability to stay competitive. ⬇️ More than four-in-five consumer respondents (81%) have noticed shrinkflation, with three-in-10 (29%) having seen it very often since 2020 - according to a survey by Clarify Capital. 💄 Amazon said Monday that its Summer Beauty Haul event is returning next week. Amazon noted the sales promotion starts at 12am PST on May 13 and runs through 11:59pm PST on May 19. 🥩 Shares of meatpacking giant Tyson Foods plunged more than 9% — the stock’s worst day since August — after the company said persistent inflation weakened consumer appetites for meat biting into profits in the second quarter. 🍺 The European boss of Budweiser has said the brewer has learned to “stay in our lane” following a backlash over Bud Light’s work with a transgender influencer. 🧴 Chinese-made skincare brands, such as Skintific, have gained popularity in Muslim-dominated markets like Indonesia and Malaysia. These brands downplay their origins and present themselves as local products. 🇦🇺 Australian supermarkets found to be overcharging customers could face criminal penalties if the government adopts the findings of a new review. #retail #retailnews #economy #DailyRetailNews
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Here are some interesting stories from the world of retail for Thursday, October 12: 🏥 After several weeks under interim leadership, Walgreens Boots Alliance has named Tim Wentworth as CEO. Wentworth will lead the Deerfield-based retail pharmacy chain starting October 23. 👟 BIRKENSTOCK shares enjoyed a less than sparkling first day of trading, falling 12.6%, or $5.80, to close at $40.20 compared with the initial public offering price of $46 each. 👙 Shares of Victoria’s Secret & Co. rose after hours on Wednesday after the maker of bras, lingerie and sleepwear said it could lose less than previously thought during the third quarter. 🏬 Ross Stores, Inc. opened 51 new stores from September through this week, the retailer said Wednesday. The retailer opened 43 Ross Dress for Less stores and eight DD’s Discounts stores in 22 states. 💄 Walmart has teamed up with Perfect Corp., an artificial intelligence and augmented reality beauty and fashion technology company, to launch a virtual try-on makeup experience via the Walmart app. 👖 Primark is continuing its international expansion in the US with new stores opening at Smith Haven Mall in Lake Grove, New York and Concord Mills in Charlotte, North Carolina, next month. 🥝 Giant Eagle, Inc. is relaunching its Nature’s Basket private brand with more transparency around sustainability. The grocer announced Wednesday that it linked up with sustainable food rating company HowGood for the relaunch. 🛒 Walmart says customers on Ozempic are actually spending more money overall, even if their food spend is down slightly. The uplift comes from other categories like lifestyle, fitness, and medications to relieve side effects. 📺 The cheap streaming era is over. In 2022, prices for the 10 largest streamers have increased an average of 10% and increased 10% on average in 2023 thus far. 🛩 Starbucks fans will no longer get their cup of Pike Place Roast on Alaska Airlines flights. Starting December 1, Alaska will serve a custom blend from Portland-based Stumptown Coffee Roasters on all flights. 🇮🇱 H&M and Inditex's store franchises in Israel have closed temporarily due to the terrorist attacks by Hamas. H&M stores, numbering 24 in Israel, will remain shut until further notice. 🇦🇺 The Australian Food and Grocery Council's latest supermarket industry survey has found that ALDI Stores Australia continues to win market share from its major rivals. 🇲🇽 Mexico's same-store retail sales rose by 4.8% in September compared to the same month last year, Mexican retailers' association ANTAD said. #retail #retailnews #economy
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Here are some interesting stories from the world of retail for Tuesday, October 10: 💸 Walmart's US CEO, Bill Simon, has warned that consumers are starting to buckle for the first time in a decade. He’s blaming a list of headwinds weighing on consumers for the slowdown. 👗 Nordstrom has announced the appointment of Lisa Price to the role of chief human resources officer, effective 6th November. Price comes to Nordstrom from Domino’s Pizza. 🚑 Costco Wholesale allegedly shared website users’ private communications and health information with Facebook-parent Meta without their consent, a lawsuit filed Friday said. 🛒 Major retail behemoths Walmart and Kohl's have simultaneously launched their holiday sales in a race to pull in shoppers amid a slowing economy. Walmart has Walmart Deals and Kohl's has a Deal Dash event. 🥕 Wegmans Food Markets' new Manhattan store is due to open at 9am on Wednesday, October 18. The 87,500 square-foot store is on the lower levels of 770 Broadway at the corner of Astor Place and Lafayette Street, Greenwich Village. 🍁 Foxtrot, the next-generation corner store and cafe operator, is adding some seasonal limited-time offers to its menu for fans of fall flavors. Pumpkin Pie Latte and Caramel Apple Latte are now available at all of its stores. 📦 Once-hot DTC brands are hollowing out behind the scenes. Is the goal, like Blue Apron, to clean house for a prospective buyer? An article in Fast Company takes a look. 👟 PUMA Group has named a new senior vice president of wholesale for North American sales. Andrew Rudolph, known as Rudi, joins the athletics retailer on Tuesday and brings 20 years of experience from rival Adidas. ⬛️ Charles Feeney, the retail entrepreneur who founded DFS duty free shops, has died. He was 92. In 1996, Feeney sold his shares in DFS to French luxury goods conglomerate LVMH. 🚫 California is outlawing so-called junk fees, taking aim at a common business practice that frustrates many consumers and has drawn the attention of federal regulators and the Biden administration. 🇹🇭 Tycoons in Thailand are increasingly interested in the local convenience store sector. They believe a shift in consumer preferences for buying less but shopping more often will fuel demand for the foreseeable future. 🎌 The Japanese government is set to introduce a programme to reward shoppers who opt for delivery parcels to be left outside their front doors. This initiative aims to alleviate the workload of delivery drivers. #retail #retailnews #economy
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Here are some interesting stories from the world of retail for Saturday, May 11: 📉 Consumer sentiment plunged to the lowest level in six months as price increases reaccelerated, according to the latest University of Michigan survey of consumers, released Friday. 🏬 JCPenney remains profitable and could open new stores. Holiday and full-year sales fell, and net income plunged. But the CEO of one of the retailer’s owners says its ongoing profitability could merit an expansion. 🛍️ The retail industry is going through a tough time as it copes with inflation-weary consumers and a rash of bankruptcies, prompting chains to announce the closures of almost 3,200 brick-and-mortar stores so far in 2024. 💊 The Vitamin Shoppe has announced that subscribers to its telehealth service will have access to weight-loss medications such as Ozempic, Mounjaro and Rybelsus. 🏪 99 Cents Only Stores in Texas may soon morph into Ollie's Bargain Outlet, Inc. or Dollar Tree Stores as competitors of the California-based retailer find discounted real estate in the bankruptcy liquidation. 👕 On average, Britons bought three items of clothing from secondhand retailers in 2023, with young adults buying 5.3 items on average, compared to 1.7 items for those aged 55 and over. 🥫 Weis Markets plans to begin construction on six new stores this year that will open in 2025, according to a company earnings release. This marks a significant uptick in openings for the company compared to the past few years. 👜 Hermès has asked a US judge to dismiss a "far-fetched" class-action lawsuit accusing it of forcing shoppers to spend thousands of dollars on goods before having a chance to buy one of its Birkin handbags. 🇨🇦 Canadian Tire Corporation Tire has reported a drop in first-quarter retail sales in its first quarter, citing a “challenging consumer demand environment” as Canadians continue to cut back on non-essential spending. 🥣 The outlook for yoghurt looks particularly sour as Americans’ love affair with the creamy, fermented dairy product is over. That's one reason General Mills is looking to sell its yoghurt business. 🍄 Meati Foods is set to add 2,000 retail locations within Kroger's family of stores by April, expanding its presence in the market. The company offers alternative protein products made from mycelium, or mushroom root. 🍍 A new variety of a rare, high-end pineapple is now available to purchase in the US. Del Monte is introducing Rubyglow pineapples, a new variety of the tropical fruit, to the US market. 🎌 Japan's consumer spending shrank for the 13th consecutive month in March, according to government data. This poses challenges for policymakers who are aiming for self-sustaining economic growth. 📦 The Commerce Department reported that US wholesale inventories fell 0.4% in March, having risen 0.2% in February. #retail #retailnews #economy #DailyRetailNews
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Here are some interesting stories from the world of retail for Thursday, May 30: 👖 Shares of Abercrombie & Fitch Co. continued their record run after the apparel retailer reported another quarterly earnings beat and raised its sales growth outlook, amid continued strength in the Abercrombie brand. 🏀 DICK'S Sporting Goods kicked off the year with net sales of more than $3 billion in Q1, an increase of 6.2%. Comparable sales in the quarter grew 5.3%, on top of 3.6% growth the year prior. 🦅 American Eagle said it’s making gains in boosting profitability as it works to improve its product assortment and tweak operations. Still, its fiscal first-quarter sales came in weaker than Wall Street expected. 🐹 Chewy smashed earnings estimates for its fiscal first quarter on Wednesday, announced its first share buyback program and signaled a recovering pet market. 🌳 Dollar Tree Stores announced it has acquired leases for 170 of 99 Cents Only Stores stores out of bankruptcy in Arizona, California, Nevada and Texas. Dollar Tree will reopen these stores with its own products under its brand. 🥾 Dr. Martens plc has announced a swathe of cost-cutting plans, after the bootmaker’s bottom line was hit by plummeting demand in the US last year. The London-listed firm hopes to save up to £25m in the coming financial year. 🏥 Walgreens said it will slash prices on 1,300 items across its drugstores — the latest big retailer to enact discounts as consumers grow increasingly picky about where they shop in an era of stubbornly high inflation. 🐶 Petco names a new chief stores officer as the COO exits. The pet retailer said it eliminated its chief merchandising and supply chain officer role and named five people to its executive leadership team. 👟Italian luxury sneaker brand Golden Goose, which was valued at €1.3bn when acquired by Perimia in 2020, said on Thursday it aims to list on Milan's Euronext next month. 💵 Cash register outages and internal system failures at Walmart have led to widespread mispricing, with customers being overcharged for certain items. The technical issues on March 19th affected 1,600 stores. 🌭 Americans are now prepared to spend nearly $6 for a hot dog. The summertime classic has climbed in price by 7.1% during the past year, according to the latest government figures. 🍔 A top McDonald's executive on Wednesday decried poorly sourced reports that the fast-food giant has hiked its prices faster than inflation. He also noted that an $18 Big Mac meal is exception not the rule. 💳 Visa and Mastercard have agreed to pay $197m to resolve a class action by millions of consumers accusing the financial payment companies of keeping cash access fees artificially high. 🍪 Subway’s footlong cookie is back. Following a four-month long disappearance, Subway announced Wednesday the “triumphant return” of the oversized chocolate chip cookie. #retail #retailnews #economy #DailyRetailNews
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🤙🏼 Aloha Friday! Here are some interesting stories from the world of retail for Friday, May 17: 🌟 Walmart said Thursday that sales at stores open at least a year increased 3.8% during its latest quarter from the same time last year. The company raised its sales and profit guidance for the year, a sign it expects growth to continue. 👕 Under Armour said sales in its largest market, North America, fell 10% and the retailer expects them to get worse during its current fiscal year. It also announced a broad restructuring plan that will include job cuts. 📉 adidas chief executive Björn Gulden announced at the company's annual shareholders' meeting in Germany on Thursday that the company will be introducing cheaper versions of its popular shoes, such as the Samba. 🪿 Canada Goose shares soared 16% on Thursday after reporting fiscal fourth-quarter earnings in which revenue increased 22% from the same period a year ago. It also forecast year-over-year sales growth for the year ahead. 👟 Swiss shoe brand On reported a robust Q1 driven by 39% year-over-year net sales growth in its DTC channel. The segment now accounts for over a third, or 37.5%, of On’s total net sales. 🍿 CVS Health has launched a new packaged food brand called Well Market, which will offer a range of snacks, beverages, and groceries. It includes 40 new products, including popcorn, cookies, and almonds. 💎 Richemont has re-established the role of chief executive after almost a decade, as the Swiss luxury group navigates a market downturn. Nicolas Bos, head of its Van Cleef & Arpels division, will take over as CEO. 👩🏽⚖️ Nordstrom and Patagonia settled a counterfeiting lawsuit on Wednesday after the two major clothing retailers went back and forth in federal court for nearly a year. Patagonia sued over fake t-shirts being sold at Nordstrom Rack. 🏬 Wayfair’s first large-format store will open its doors to the public next week. The store, located in Wilmette, Illinois, not far from Chicago, will officially open up shop on the morning of May 23. 📦 Roughly half of frontline warehouse workers at Amazon are having trouble making ends meet, a new report shows. The study comes five years after the online retailer raised minimum hourly wages to $15. 🇨🇳 Chinese fast-fashion e-commerce retailer Temu has been hit with a complaint from the European Union for potentially breaching online content rules on safety and product information. 🥞 Cracker Barrel is the latest restaurant chain to signal trouble ahead as it sees fewer diners. The chain expects fiscal third- and fourth-quarter results to be below its expectations. 🥤 McDonald's’s is temporarily putting a new McFlurry on its menu with flavors that might make customers think of their grandmothers. "Grandma McFlurry" will roll out at US restaurants on Tuesday. #retail #retailnews #economy #DailyRetailNews
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Step into a retail haven with Burlington Stores, Inc. (BURL), the off-price juggernaut offering customers unparalleled value! With an 82 RS Rating, Burlington’s strategy resonates with shoppers seeking high-quality, branded apparel at unbeatable prices, making it a go-to destination for the savvy shopper. Operating across 1,000 stores nationwide, Burlington's commitment to delivering top-tier merchandise at significantly reduced prices embodies its dedication to customer satisfaction. This customer-centric approach ensures shoppers experience the joy of discovering premium items without the hefty price tags. Boasting an impressive 81 Earnings Per Share Rating and an outstanding 97 Composite Rating, Burlington stands as a beacon of stability and strength, aligning with its commitment to offering customers unbeatable value for their money. With a remarkable earnings surge of 128% to 98 cents per share and a revenue spike of 12% to $2.29 billion, Burlington's performance is a testament to its customer-focused off-price retail strategy. While its stock has soared, strategic shoppers await the opportune moment to make their purchases. Ranked No. 4 in the Retail-Apparel/Shoes/Accessories industry, Burlington stands among the titans, sharing the stage with esteemed peers like lululemon (LULU) and Ross Stores, Inc. (ROST). The industry's lofty No. 11 rank further underscores Burlington's eminent position, reaffirming its dedication to providing customers with exceptional value. Burlington's impressive 82 RS Rating mirrors its resilience and unwavering commitment to offering customers a rewarding shopping experience, making it an ideal choice for those seeking quality at an unbeatable price! 📈 *** #OffPrice #Retail #StockPrice #ConsumerHabits #Chain #Stores #Business {via Investor's Business Daily / James DeTar}
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Cracking the Code: Off-Price Retail's Triumph In a fashion world of ups and downs, The TJX Companies, Inc. and Ross Stores, Inc. shine bright. Discounted #fashion attracted savvy shoppers during tight budgets, while upscale brands struggled with excess stock. Enter the heroes of off-price retail: TJX and Ross. They offered a diverse range by unloading inventory, resonating with consumers who seek value without sacrificing indulgence. In the post-pandemic #retail landscape, high-end brands struggle, while discount stores thrive. Ross Stores Inc. exceeded expectations, surging 6% after hours. Yet, The Estée Lauder Companies Inc.‘s slow Asian recovery and FARFETCH ‘s revenue miss paint a different picture. This echoes the trend seen with Target and Walmart proving essentials and #offprice stores outshine luxury. Per experts like Neil Saunders, consumers crave value in their purchases, propelling the off-price revolution. Except for Nordstrom Rack, which lags behind due to poor assortments and messy stores, leading to a 15.1% Q1 sales drop. Contrary to misconceptions, excelling in off-price is an intricate art. TJX's and Ross's prowess lies in their adept buyers, vast networks, and nimble decision-making. It's a methodical dance amidst perceived chaos. #retailbusiness #q2results #retailinsights
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Here are some interesting stories from the world of retail for Wednesday, March 13: 👶🏼 With the help of an extra week in the holiday quarter, Kohl's Q4 net sales fell 1.1%. It also also announced an exclusive licensing agreement with Babies R US to open shop-in-shops across 200 of its stores. 👟 Shares of Allbirds sank after hours after it forecast full-year sales that were below expectations and said it would close some US stores. Joe Vernachio will also succeed co-founder Joey Zwillinger as CEO. 🎯 Target has cut dozens of marketing positions this week. A spokeswoman for the Minneapolis-based retailer declined to share the number of jobs eliminated, but said the reductions amount to 0.3% of its corporate workforce. 🏬 Nordstrom has opened a luxury pop-up at its NYC flagship. The retailer’s partnership with luxury brand Bode is the first of a series of limited-time events and brand takeovers at the New York store. 🌟 Walmart is teaching managers compassion. The retailer brings about 2,000 managers a year to its headquarters to discuss how to relate to workers and customers, according to The New York Times. ⭕️ Rent-A-Center is launching a program to offer consumers a more flexible way to rent-to-own. The new program allows customers to exchange their current product on rent for another qualifying product within the first 6 months. 📈 Rising gasoline costs kept inflation elevated in February, underscoring that the road to more modest consumer price increases following a pandemic-induced spike may continue to be bumpy. 🏃🏻♂️ Books Running Company’s CEO will step down from the role after more than two decades. Jim Weber will step down. Dan Sheridan, who currently serves as president and COO will become Brooks’ next CEO. 🏋🏻♂️ Fitness centers, big and small, filling neighborhood shopping centers. The variety of workouts makes shopping for fitness a 'thing' as habits acquired during the pandemic stick. 🚢 Despite fears, retailers have so far largely avoided impact of Red Sea disruption. The attacks by Iran-backed Houthi rebels on cargo ships in the Red Sea are ongoing. 🍫 As The Hershey Company battles cocoa costs, chocolate lovers may help cool inflation with their refusal to accept repeated price hikes. Companies are finding it harder to raise prices even as costs for some raw materials jump. 👜 Pythons are bashed with hammers, impaled on hooks and skinned alive to provide skins used by Italian luxury brand Gucci to craft handbags, shoes and belts according to an investigation by animal rights group PETA. 👞 Italian luxury group TOD'S has announced that its operating profit rose to €94.7m last year, surpassing analysts' expectations. #retail #retailnews #economy #DailyRetailNews
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Here are some interesting stories from the world of retail for Thursday, April 4: 👖 Shares of Levi Strauss & Co. rallied after the jeans maker bumped its full-year profit forecast higher, helped by cost cuts, improving executive optimism about shoppers and better demand for products new and old. 🧘🏻♀️In its continued experimentation with sustainable materials, lululemon released its first product made with enzymatically recycled polyester, a packable anorak. 💄 Shares of Ulta Beauty were on pace for their biggest percentage drop in more than four years after the beauty-products retailer said industrywide demand had slowed more than expected over the past two months. 🖥️ In 2023, a year defined by inflation, uncertainty and industrywide shifts in favor of efficiency, conversions got more difficult for online retailers. And rates have continued to decline into 2024. 📉 Shares of direct-to-consumer brands – household names like HelloFresh, Peloton, Allbirds, Stitch Fix, Warby Parker and Rent the Runway, which cut out traditional retailers, wholesalers and other middlemen – have been falling. 🍇 Inflation is falling but buying food can still be expensive. Grocery prices have risen 21% in the last three years, according to the Bureau of Labor Statistics. 🗽 Retail is making a dramatic resurgence on Fifth and Madison Avenues in NYC. At the beginning of 2023, retail space availability on Madison Avenue was at 16%. Today it is below 6%. 📦 Amazon finished the trading day yesterday with a record-high market capitalization, its first in nearly three years. Its market capitalization ended the day at $1.89 trillion. 🍷 A few months after acquiring Winc and Wine Insiders, Full Glass Wine Co. is buying its third DTC wine company. The brand acquisition and management firm is scooping up Bright Cellars, a subscription-based wine business. 🏦 Chase announced Wednesday it has launched a new media business that allows advertisers to target the bank's 80 million US customers based on their purchases. 🧱 In April 2024, the LEGO Group stores in the US and Canada will be certified 'KultureCity Sensory Inclusive' — signaling a safe and supportive environment for visitors with sensory sensitivities. 🕸️ Amazon Web Services (AWS) is laying off several hundred employees as the company shifts its strategy in some parts of the business, a spokesperson confirmed Wednesday. 👷🏼♀️ The retail industry is still largest private sector employer in US. The sector accounts for 26% of total US employment, up from 25% in 2018. Retailers supported 55m full-time and part-time jobs in the country in 2022. 🍔 McDonald's’s has jacked up its menu prices by more than 100% over the course of the last decade — more than three times the rate of US inflation, according to a research report. #retail #retailnews #economy #DailyRetailNews
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Look who's taking a move from the Kohl's playbook. Looking forward to see how Walgreens integrates its Claire's moment in its stores. We all know that CVS and Walgreens have been expanding their offerings in recent years but that's mostly been focused on either healthcare services or grocery items. It'll be interesting to see how consumers react. Personally, I think it's a good move with the right brand like Claire's considering its price point and consumer demographic. #TheRetailLawyer #Walgreens #Claires #attorneyadvertisement #retailevolution #retailers #brickandmortar https://lnkd.in/e5RUvrPe
Claire's expands retail footprint with Walgreen's partnership
https://www.glossy.co
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