Bed Bath & Beyond is seeking reparations from a shipping company it says “exploited customers.” The bankrupt retailer filed its complaint against Orient Overseas Container Line Limited and OOCL (Europe) Limited (OOCL) with the Federal Maritime Commission (FMC) on April 27. “As alleged herein, respondent has exploited price inflation in container shipping...
Despite lowering its sales outlook for the third straight quarter due to a slower-than-expected recovery in Asia, cosmetics company Estée Lauder remains optimistic about the Chinese market. The company, which also owns cosmetic brands such as MAC and La Mer, announced Wednesday (May 3) that...
Nordstrom is reportedly shuttering two of its San Francisco stores amid declining foot traffic. That’s according to a Wednesday (May 3) Wall Street Journal report, which cites a number of factors for the closing, including worries about crime and the persistence of remote work keeping...
We’ve reached a milestone with interest rates — and by extension, retailers may find it tougher to sell their inventories. As the world knows by now, the Federal Reserve boosted the target range for its benchmark interest rate by 0.25%. And we’ve crossed a threshold,...
As consumers weigh where to buy their groceries, ease and convenience are the top priorities. By the Numbers Research from PYMNTS’ study “Consumer Inflation Sentiment Report: Higher Prices Fuel a Deal-Seeking Competition,” which drew from a survey of more than 2,100 U.S. consumers in February,...
In an effort to embed its offerings more deeply in consumers’ day-to-day routines, The Kroger Co.is expanding its digital presence beyond grocery. The grocery giant announced Wednesday (May 3) the launch of sushi and floral arrangement deliveries via the aggregator from more than 1,400 stores,...
Luxury store openings in Europe skyrocketed last year as global travel resumed. That’s according to the latest edition of Savills’ Global Luxury Retail Outlook, which found a 77% increase in new high-end stores in Europe. “A relatively fast recovery in luxury spend in the region,...
Aiming to reach a new generation of golfers, Adams Golf has moved fully online. The TaylorMade Golf-owned brand aims to be “a digitally native leader in direct-to-consumer golf equipment,” Adams Golf said in a Monday (May 1) press release. “We’re pushing this brand to be progressive and different, but...
Simon Property Group (SPG), the largest shopping center manager and developer in the United States, has had a favorable start to the year, as indicated in its first-quarter report on Tuesday, which presented gains across different metrics. However, one question remains: Are people still shopping...
