In May 2022, luxury fashion label Chanel launched stores purely dedicated to top-paying clients. This move has since been made popular as even other luxury labels, who are known to target Gen Z and millennials. But beyond launching private stores, the fashion house has also...
Long gone are the days when Walmart and Amazon just sold 5-cent items and books. Each brand has branched into numerous categories, each serving as a type of battleground. For example, healthcare and wellness have been a recent area of interest for both retailers. The...
In times of inflation, nothing is safe. Not even freebies on your birthday. In the latest inflation stunt since costs on shipping is Sephora’s efforts to launch a $25 online purchase minimum in order to receive a birthday gift. The beauty retailer revealed in an email...
Kanye West has reportedly set up a location on Melrose Avenue in Los Angeles — on the same block as an Adidas store. The Yeezy location features a 7,400-square-foot showroom and is two doors away from the Adidas store, Rap-Up reported Thursday (May 4). It’s...
Inflation has caused competition in retail and grocery to intensify as businesses fight for a smaller and smaller piece of the revenue pie. More than half of grocery shoppers and more than two-thirds of retail shoppers are cutting back on nonessential spending. PYMNTS’ data shows...
Carvana expects to return to profitability in this quarter after cutting costs. The used car retailer expects to achieve positive adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in the current quarter, Carvana said in a Thursday (May 4) letter to shareholders. This forecast...
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...
