Bankrupt party supply retailer Party City is closing more stores as it prepares to go private. The company last week shuttered nine stores in five different states and will auction the locations off later this week, according to A&G Real Estate Partners, its real estate...
Klarna has debuted a personalized shopping feed powered by artificial intelligence (AI). The new tool, announced Tuesday (April 25), is part of a suite of new products for shoppers, creators and retailers from the Swedish payments company, and the latest example of AI’s prevalence in...
Super.com has raised $85 million in a Series C round to grow its savings super app. The firm will use the new funding to continue to scale its product and engineering resources, add new features to the super app and expand the ways in which...
Italian luxury brand Valentino has seen sales rise thanks to its directly-owned stores. As Reuters reported Monday (April 24), Valentino enjoyed an 18% increase in core profit for last year, with sales climbing 10% at constant currencies. The company said sales in the shops it...
Luxury retailer LVMH’s market value has surpassed $500 billion in a first for European firms. The milestone, observed Monday (April 24) in multiple media accounts, comes weeks after the company reported a leap in sales driven by shoppers in China. The company — owner of...
Major remodels by the country’s top two dollar store chains signals expectations for prolonged higher food prices. As reported by FT earlier this week (Apr. 19), both Dollar Tree and Dollar General each plan to increase the number of existing store renovations by double-digit percentages...
Bed Bath & Beyond has declared bankruptcy months after warning about its future. The downfall of the 52-year-old home goods seller came about Sunday (April 23) after the company wasn’t able to secure funding that would have allowed it to stay afloat. “Thank you to...
Luxury retailers are promoting exclusivity as a way to focus on their core customers and keep them engaged. Following in the footsteps of iconic brands like Hermès, retailers such as Saks and Gucci have launched efforts that cater to their top clients. Saks Goes the...
Walmart’s online grocery sales growth could take a toll on the rest of the business. The megaretailer, the largest grocer in the world, shared in its 2023 Annual Report, released Thursday (April 20), that the rise in eGrocery sales could negatively impact the company’s ability to drive sales...
