Here are some interesting stories from the world of retail for Wednesday July 10: 💊 Drug middlemen paid their own mail-order pharmacies as much as 200 times more than rival pharmacies for common cancer medicines, generating at least $1 billion in excess revenue, the FTC has found. 👟 Nike has announced the return of Tom Peddie, a former executive, to serve as its vice president of marketplace partners and rebuild the company's sales through third-party retailers. 👚 After coming under fire for its lack of inclusive sizing, Brandy Melville, the former Gen-Z retail darling known for its affordably-priced staples, looks to be experimenting with a new concept store called St George in Santa Monica. 🛠️ LL Flooring – previously known as Lumber Liquidators – may file for bankruptcy in the next few weeks. It is the latest company to struggle due to persistent inflation and cash-strapped customers. 🖼️ Etsy will allow the sale of artwork derived from the seller's own original prompts or AI tools as long as the artist discloses their use of AI in the item's listing description. 🏬 Kroger has released the locations of the assets they plan to offload to C&S Wholesale Grocers as they look to allay antitrust concerns over their proposed $24.6 billion merger with Albertsons Companies. ⏰ Adding another Alexa-enabled device to its product lineup, Amazon has launched the all-new Echo Spot smart alarm clock. Amazon is discounting the product during its Prime Day sale. 📦 Sam's Club is raising the bar for free shipping, following a trend a new survey reports is impacting retailers and customers nationwide. Plus members will have an $8 shipping fee waived only on orders worth at least $50. 📉 Federal Reserve Chair Jerome Powell said Tuesday that policymakers have been encouraged by recent data that suggests inflation is receding, and that continued progress would strengthen the case for an interest rate cut. ☕️ The price of coffee is set to rise from its current record high as climate change, shipping disruptions and new EU regulations drive up costs for roasters, Italian coffee giant Lavazza has warned. 👜 Luxury handbag maker Mulberry has announced a surprise change in chief executive, with Andrea Baldo taking over from Thierry Andretta. 🌾 Inditex has acquired a share in US-based sustainable agriculture start-up Galy as part of its strategy to invest in the sustainable economy. 🌯 Chipotle Mexican Grill’s longtime chief financial officer, Jack Hartung, is retiring in March, with company veteran Adam Rymer set to succeed him. 👷🏼 RJ Cilley has left his position as Saks Fifth Avenue’s chief operating officer and is now chief executive officer at HVAC and plumbing startup Voomi Supply. 👍🏼 Small business sentiment in the U.S. unexpectedly rose in June and at a faster than expected pace, to reach its highest level so far this year. #retail #retailnews #economy #DailyRetailNews
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Here are some interesting stories from the world of retail for Sunday, February 25: 🎯 Two Minnesota titans — hometown retailer Target and commodities giant Cargill — are squaring off in an ever-expanding antitrust lawsuit alleging price gouging by the nation's "Big 4″ beef producers. 👠 Jones New York is investing more in footwear with the launch of its first women’s shoe collection at Macy’s next month. The debut at Macy’s comes as Jones expands its relationship with its footwear licensee E.S. Originals. 🍕 Consumers are spending more of their budgets on food than they have in 30 years. While inflation has slowed down, it's left prices stubbornly elevated. And high food costs could stick around for a while. ✈️ The emergence of fast-fashion e-commerce companies such as SHEIN and Temu is upending the global air cargo market, as they increasingly compete for limited air cargo capacity in order to entice customers with quick transit times. 👢Largely thanks to Beyoncé, Western-inspired fashion is trending again. Beyoncé has kicked the Cowboy look into overdrive after a surprise two-single drop during her Super Bowl ad commercial. 🏥 Jack Gance, founder of Chemist Warehouse, said the Australian pharmacy chain is looking to expand in the US. He said that the low-cost pharmacy retailer saw the US as a potentially significant new market for the company. 💰 In a significant effort to combat food insecurity, Dollar General has announced that it donated over 15.2m pounds of food in 2023 through its partnership with Feeding America. 💊 Despite worries that weight loss medications could dampen sales, Conagra Brands, WK Kellogg Co and General Mills are among companies optimistic that sales for popcorn, frozen meals and even cereal could benefit. 🚘 Car shoppers aren’t electrified by electric vehicles. Automakers say growth has cooled amid lower gas prices and worries about a lack of charging stations, contributing to a 10.8% drop in the average EV price over the past year. 🥑 Ocado Retail Ltd is expected to announce its seventh consecutive annual loss, bringing its net losses since 2000 to £1.69bn. Analysts predict a £340.7m loss for the year, an improvement from the previous period. 🛩 London Heathrow Airport carried 79.2m passengers in 2023, a 29% increase from the previous year. However, the airport's retail revenue only rose by 24%, falling short of pre-pandemic levels. 🇮🇳 The Body Shop's partner in India, Quest Retail, has said that the recent restructuring of the cosmetics retailer will not affect its operations in India. #retail #retailnews #economy
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Here are some interesting stories from the world of retail for Sunday, February 4: 🏬 The new Macy's CEO grabs the reins amid slowing sales growth and takeover threats. Tony Spring will officially take over as CEO today as the storied retailer faces slowing sales growth and takeover threats. 👔 Apparel retailer EXPRESS is facing financial struggles as consumers shift towards ultra-fast fashion brands, and has been holding talks with lenders to discuss restructuring options. 🧶 Activist investor Elliott Investment Management has built a 13% stake in online marketplace Etsy, making it the largest shareholder in the online marketplace for artisans. 💰 Compensating rank-and file employees with stock is not common in retail, and competitors of Walmart may need to follow their lead. One group forecasts the change could have a $20 billion wealth-generating effect. 🍺 The hottest beer in America doesn’t have alcohol. Founded by a hedge-fund trader and a brewer, Athletic Brewing Co. has become the king of nonalcoholic beers. 🍫 There is polyglycerol polyricinoleate in Hershey bars and tripotassium phosphate in Cheerios breakfast cereal. But growing scrutiny of the peculiar ingredients in popular snack foods might be bad news for their makers. 🛍 Gen Z shoppers are helping to revive of malls, as this digitally savvy generation expects instant gratification. According to a report by the ICSC, 97% of Gen Z respondents prefer shopping at brick-and-mortar stores. 📚 Target has stopped selling a children’s educational product celebrating Civil Rights history after a TikTok video, which has so far been viewed over 960,000 times, pointed out that some historical leaders were mislabeled. 🥫 One of the billionaire Issa brothers, Zuber Issa, is looking to offload his stake in the debt-laden UK supermarket Asda. He has approached buyout specialists and retailers to explore a sale of his 22.5% shareholding. 📈 Friday’s blockbuster jobs report, highlighted by a stunning 353,000 payroll gains last month, again pointed up a nagging question: If the economy and labor market are so strong, why aren’t more Americans feeling it? 🇿🇦 Retailers in South Africa are protecting their margins by offering fewer discounts and passing on rising prices to shoppers, despite subdued consumer confidence. 🚘 Tesla has opened its first store in South America, located in Santiago, Chile. Chile has set a target to sell only electric vehicles by 2035, although EV adoption is still low due to high prices and limited charging infrastructure. #retail #retailnews #economy
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Here are some interesting stories from the world of retail for Wednesday, July 3: 🛏️ Tempur Sealy's proposed $4 billion acquisition of Mattress Firm is getting challenged by the Federal Trade Commission, the antitrust agency announced on Tuesday. 📦 Amazon’s international arm is on track to swing to an annual profit as moves to streamline the retailer’s logistics operations bear fruit after years of losses. The $131bn unit looks set to report an operating profit of $1.6bn this year. 💶 The European Union is working on a proposal to impose import duties on cheap goods bought from online platforms outside the bloc, such as Shein, Temu, and AlixExpress. 🚜 The National Black Farmers Association called on Tractor Supply’s president and CEO Tuesday to step down after the rural retailer announced that it would drop most of its corporate diversity and climate advocacy efforts. 👗 Luxury resale platform FASHIONPHILE is turning two of its mall pop-ups — one in the Carlsbad Premium Outlets and one in the Irvine Spectrum Center — into permanent stores. 🎓 Parents expect their back-to-school spending to rise 21.8% year-over-year, spending $475 per child compared to $390 last year, according to a new survey of 1,026 parents conducted in May. ⏱️ Watch and jewelry retailer Fossil is bringing in a Radisson Hotel and Icahn Enterprises alum as interim CFO after reporting a 22% drop in net sales for its most recent quarter. 📚 One of the largest online book retailers, ThriftBooks, is launching a new program for customers to sell their books and help promote sustainability. It will accept high-demand books based on its inventory needs. 🏬 All Bob's Stores locations are to close. The retailer was unable to secure the financing necessary to keep operating. The fate of sibling company Eastern Mountain Sports remains unclear. 🧴 Consumer goods manufacturers are slapping exorbitant prices on oddball personal care products such as total body deodorant and razors to remove pubic hair — a new, unwelcome trend in retail known as upflation. ⛽️ Gas costs at the pump are expected to hit their lowest levels since 2021 this 4 July. The average price of gasoline on Independence Day is expected to be $3.49 per gallon nationwide. ⏲️ GE Appliances, one of the largest home-appliances manufacturers in the U.S., says a $2 billion effort to remake its supply chain has helped it double revenue since 2017. 🚬 The Supreme Court on Tuesday agreed to consider whether the Food and Drug Administration acted unlawfully in refusing to approve flavored e-cigarettes that are often used by teens. 🇦🇺 Australian retail sales rose by 0.6% in May, according to the Australian Bureau of Statistics, surpassing economists' expectations of a 0.3% gain. #retail #retailnews #economy #DailyRetailNews
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Here are some interesting stories from the world of retail for Wednesday, October 11: 🥾 BIRKENSTOCK, the German shoemaker, has priced its initial public offering at $46 a share, setting up the next big test of the new-issue market. The company chose a price near the middle of the targeted range. 🚚 Early results from the Amazon Prime Big Deal Days sales extravaganza indicate the event is tracking similarly to previous Amazon Prime promotions. 👟 Teens’ self-reported annual spending is down 1% to $2,316 compared to last fall, and down 4% from the spring, according to Piper Sandler’s biannual teen survey released on Tuesday. 📈 Americans are bracing for high inflation to stick around over the next few years, according to a key Federal Reserve Bank of New York survey published on Tuesday. 💰 Family Dollar voluntarily recalled dozens of over-the-counter drugs, products and medical devices sold at its stores because they had been stored at improper temperatures, according to the FDA. ♻️ Target has lost ground on plastics reduction goal. In its latest sustainability report it aims to have 100% of owned brand plastic packaging be recyclable, compostable or reusable by 2025; as of 2022 it had achieved 22%. 🚔 An opinion piece on CNN says the there are better ways of dealing with shoplifting than simply closing stores. It argues that dealing with criminal gangs is an important focus for resolving the issue. 🏂 Perfect Moment, a UK-based maker of luxury skiwear, outerwear and swimwear, filed for an initial public offering early Tuesday, with plans to list on Nasdaq under the ticker “PMNT". ⏲ Tupperware's Director and Executive Vice Chair Richard Goudis will resign after the company files its 2022 annual report, which is expected sometime this month. 🌮 Chipotle Mexican Grill's prices are going up again. It's the fourth time Chipotle has raised prices in the last two years. A representative for the company cited inflation as the reason for the change. 🥤 PepsiCo is studying the effects of weight-loss drugs on its sales, after Walmart claimed users of these medicines were buying less food. Pepsi said it was it was “very early days” in terms of understanding the impact. 📦 Wholesale inventories in the US fell 0.1% in August, the U.S. Department of Commerce said on Tuesday. This is the sixth straight monthly decline. 🇬🇧 Retail sales growth in the UK slowed in September despite a fall in inflation, according to a report from the British Retail Consortium. Total retail sales for the five weeks to September 30th increased by 2.7%. #retail #retailnews #economy
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Here are some interesting stories from the world of retail for Saturday, December 30: 🛍 According to the National Retail Federation, Americans are expected to return some $148 billion in holiday gifts. 🏬 Retailers shuttered 4,600 stores over 2023. But it's not all doom and gloom in the retail sector, given that retailers actually opened almost 5,500 stores over the course of the year. 🌟 The Wall Street Journal speaks with the CEO of Walmart US, John Furner, and asks where he seeks advice. The veteran at the retail giant, finds inspiration from teachers, colleagues and even a former subordinate. 🍔 As a tumultuous 2023 for the Chinese economy comes to a close, there has been one bright spot when it comes to foreign investment: American fast-food chains have decided a market of 1.4 billion people is too delicious to pass up. 🍫 A Florida woman is taking on The Hershey Company, claiming it has “tricked” customers through “misleading” packaging on Reese’s seasonal-shaped chocolates. 🚬 Legal-cannabis market in New York gets off to a slow start with $150 million in sales in its first year. New York ends 2023 with sales lagging other states, but the market continues to ramp up. 🧴 Judge certifies Johnson & Johnson shareholder class action over talc disclosures. J&J shareholders may pursue class action in lawsuit accusing company of concealing contamination talc products. 🥤 Fast-food restaurants are strategizing how to offset labor costs, decisions that will affect menu prices, and how much money franchisees make; and watching to see if unionization efforts increase and the battle spreads. 🚚 California pushes electric trucks as the future of freight: a mainstay of cargo transport will be phased out at ports as California bans new registrations of carbon-fuel trucks in favor of nonpolluting ones. 👜 Shares in Hermès rose by 33% in 2023, making it the luxury sector’s best-performing stock. But across the industry, most large European luxury stocks ended 2023 in the red as demand for expensive baubles sputtered. 📈 Abercrombie & Fitch Co. has emerged as the top-performing stock in the S&P 1500 Index, with a nearly 300% gain this year. The retailer's strong showing is a sharp turnaround from 2022, when shares fell 34%. ⛄ Icelandic B Corp outerwear brand 66°North is set for significant global expansion, opening a U.S. headquarters in New York and appointing Jeppe Møller as its first Chief Commercial Officer. #retail #retailnews #economy
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Here are some interesting stories from the world of retail for Monday, March 4: 💰 Arkhouse Management and Brigade Capital Management are raising their offer to buy Macy's by nearly $1 billion after the beleaguered department-store chain rebuffed its prior proposal as too low. 🧶 Arts and crafts retailer JOANN Stores is reportedly considering a bankruptcy filing in the coming days as part of a deal that would hand control of the company to lenders while allowing it to shed expensive debt. 👠 The D’Amelio family are bringing their footwear brand to downtown Manhattan. Dubbed D’Amelio Footwear, the brand will be featured in a pop-up in partnership with Shopify from March 8-10. 📺 Convenience store chain Wawa, Inc. has unveiled Goose Media Network, the convenience retailer’s retail media platform, according to a company announcement this week. 👗 Compared to the highs of 2021 and 2022, luxury brands and fashion retailers have seen slowing sales. Many are now slashing costs and closing stores to reach profitability. 🏥 CVS Health, the nation’s largest pharmacy chain with more than 9,000 locations, has been fined more than $1.5 million by Ohio regulators over problems connected to understaffing and patient safety, officials said. 🇨🇳 Chinese retailers are attracting more and more US consumers by offering cheaper products. But a group of 40 lawmakers has asked Homeland Security Secretary Alexander Mayorkas to crack down on the de minimis trade. 💻 More than a decade ago, when online retailer Zulily was getting off the ground, it had the culture, chaos and capital of a high-flying startup. But Zulily’s end came roughly 13 years after it started, notes The Seattle Times. 💄 German beauty retailer Douglas has announced plans to pursue a €1.1bn IPO on the Frankfurt Stock Exchange. The IPO, subject to capital market conditions, is expected to be completed before the end of the first quarter. 🇬🇧 The Body Shop has admitted to breaking UK employment law by sacking hundreds of employees without notice or redundancy packages. The sudden mass-firing has left many employees in financial distress. 🍽 Busy restaurants have a message for customers: Come dine with us. Leave your extra friends at home. The eateries want the business, but with ongoing staffing shortages, gangs of eight or even six are just too much work. 🥞 Dine Brands Global is looking into launching dual-branded Applebee’s-IHOP restaurants in the U.S. CEO John Peyton said the company is considering bringing the joint restaurants to the US after postive international trials. 🍿 “Dune: Part Two” jump-started moviegoing in North America after a dismal start to the year. The science-fiction sequel sold an estimated $81.5 million in tickets in the United States and Canada from Thursday night to Sunday. #retail #retailnews #economy #DailyRetailNews
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Supply is tight just as direct-to-consumer brands enter brick-and-mortar and as others expand their footprints.
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Here are some interesting stories from the world of retail for Wednesday, April 10: 👜 Coach has filed a trademark infringement complaint against Gap Inc. over the use of the word “coach” on various Old Navy brand products, according to a court filing last week. 📹 Target is adding a new technology at its self-checkout registers that uses cameras to detect items on scanners, alerting shoppers who leave anything unscanned, according to internal documents. 🔋 Batteries Plus has ambitious expansion plans for the remainder of 2024 — including putting down roots in new territories. The company’s goal is to open 39 stores and signing 45 additional locations before the end of the year. 🍖 Demand for cheap canned meats like Spam and Vienna Sausages is surging as cash-strapped shoppers look to stretch their paychecks in the face of relentless food inflation, according to US grocery executives. 🧘🏽♂️ lululemon is closing its Pacific Place store in downtown Seattle. The last day of sales will be April 21. Besides its Pacific Place store, Lululemon has nine stores in Washington including another Seattle location. 🚨 The Home Depot confirmed it recently experienced a data breach when a vendor mistakenly exposed some personally identifiable employee data as part of systems testing. 🇯🇵 The Japanese owner of 7-Eleven, Seven & i Holdings, is considering listing its superstore business as soon as possible as part of efforts to focus on its convenience-store segment. 📺 Bang & Olufsen will continue to target a larger share of higher margin revenue but it will adjust the timing and size of investments amid challenging market conditions, including in key markets in Europe and China. 👚 Longtime Nordstrom merchant Lori Marten has been named executive vice president and general merchandising manager of the retailer’s Rack business, the company said by email. ⚱️ Costco Wholesale is making gold off its own gold. The retail chain is making $100 million to $200 million a month by selling gold bars, according to a Wells Fargo equity research note. 🔡 Scrabble is to get a new “collaborative” and “accessible” version. An updated game named Scrabble Together adds a second side to the board that is collaborative and faster-paced. 🍔 A McDonald's’s franchisee who owns 18 stores in California is considering reducing store hours, hiking menu prices and delaying renovations to offset the impact of the state’s $20 hourly minimum wage for fast-food workers. 😞 The labor market is roaring ahead, wages are rising and inflation is slowing — all key metrics that economists point to as showing a resilient and strong U.S. economy. The problem is Americans aren't feeling it, notes CBS News. #retail #retailnews #economy #DailyRetailNews
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Here are some interesting stories from the world of retail for Tuesday, February 6: 👖 Gap brings aboard designer Zac Posen, as it aims for a bigger role in ‘the cultural conversation’. CEO says Posen is ‘a great fit for the company as we ignite a new culture of creativity’. 🥫 Kroger said chief financial officer Gary Millerchip has stepped down to join another publicly traded company. The US supermarket said that Millerchip will be replaced by chief accounting officer Todd Foley on an interim basis. 🧴L’Occitane International’s shares rose sharply after a report that Blackstone is considering a bid for the skincare company. Shares gained 9.4% in early Asian trade Tuesday. 📦 Amazon is expanding its program to ship goods in original packaging. Along with the benefit of cutting down on waste, participating sellers are also now eligible for discounted fees. 👟 Deckers Brands, the footwear, apparel and accessories company, has named Stefano Caroti as its new president and CEO. Dave Powers, the company’s current president and CEO, will retire August 1. 📱 In its quest to recruit more sellers, TikTok Shop is targeting some Etsy merchants. An invitation recently sent to fashion-focused brands, the platform is encouraging merchants to join TikTok Shop to grow their businesses. 🍔 McDonald's’s CEO admitted the burger giant’s sales have taken a hit as jacked-up menu prices have turned off core customers — and signaled the chain plans to focus on “affordability” this year. 🧴 Natura &Co will consider separating its Natura business from Avon, creating two separate publicly traded beauty companies. This would be the latest change after recently divesting itself from Aesop and The Body Shop. 💄 Estée Lauder announced plans to cut up to 3,100 jobs – about 3% to 5% of its global workforce – expanding an effort to shore up its profit margins as a rebound in its China business takes longer than expected. 🎮 Shares of GameStop ended Monday’s session down 8.6%, with the stock registering its biggest daily percentage decline in two months. Monday’s decline was the largest since December 5, 2023. 👚 Spanx has appointed Caroline Whitton a chief executive, promoting her from president and chief growth officer. As CEO, Whitton succeeds Kim Jones, who left in July. 💳 The Federal Reserve Bank of New York is expected to show that credit card debt hit a new record during the three-month period from October through December. #retail #retailnews #economy #TopRetailExperts
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Here are some interesting stories from the world of retail for Tuesday, March 5: 🏪 Amazon’s Whole Foods Market Foods to open new small-format stores in cities. Called Whole Foods Market Daily Shop, stores will range between 7,000 to 14,000 sq ft and will offer a similar but slimmer assortment of products. 📈 Macy's bonds rally along with stock after investor group sweetens takeover bid. Shares gain 15% after private-equity group adds around $800 million to its buyout offer. 🍏 $78 billion was wiped off the value of Apple after it was fined $1.7 billion by European regulators. It was accused of stopping streaming apps like Spotify from telling customers they can subscribe for cheaper outside the App Store. 🪡 Stitch Fix announced its results for the second quarter of fiscal 2024. Net revenue from continuing operations was $330.4 million, a decrease of 18% year-over-year. Net losses from continuing operations were $35.0 million. 🧵 ThredUp announced its fourth quarter results. Quarterly revenue was $81.4 million, representing an increase of 14% year-over-year. The company had record full year revenue of $322.0 million, 12% growth year-over-year. 🤖 Employees at an Amazon warehouse near Seattle have been introduced to a new humanoid robot colleague called Digit. The 5-foot-9-inch robot is designed to perform one task: pluck empty yellow bins off a shelf. 💊 More people could be changing eating habits soon due to the growing use of weight-loss medication like Ozempic. As a result, several large CPG brands are reevaluating their portfolio in response to the changing needs of shoppers. 🇬🇧 Retail sales in the UK grew at their slowest pace in 18 months, with the industry attributing the decline to rainy weather. Total sales rose by 1.1% in February, compared to 5.2% growth the previous year. 🥟 More than 61,000 pounds of Trader Joe's frozen Steamed Chicken Soup Dumplings have been recalled this week because of a possible extra ingredient: bits of plastic from someone’s pen. 🧴 Jordan Searle, head of The Body Shop Canada says the company is seeking creditor protection due to its parent company stripping its Canadian arm of cash and pushing it into debt. 👗 Fashion brands with ultra-fast product turnover could face penalties of up to 50% of their selling price to offset their environmental impact, according to a new bill proposed by French ruling-majority MPs. 🇦🇺 Hundreds of complaints about delivery delays have prompted the Australian Competition and Consumer Commission to take legal action against Mosaic Brands - owner of Noni B, Rivers, Katies and Rockmans, among others. 🍪 Cookie Monster has taken a stance on a very real and controversial trend in the US economy. The blue Sesame Street character known for gorging on cookies expressed his dismay at “shrinkflation” Monday in a post on X. #retail #retailnews #economy #DailyRetailNews
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2wThanks for sharing these insightful updates from the retail world! It's fascinating to see how these developments are shaping various sectors, from healthcare and fashion to technology and sustainability. Each story reflects the dynamic nature of the retail landscape and underscores the importance of staying informed. Looking forward to more engaging updates!