Following its recent earnings report in early March, fashion retailer Nordstrom has announced the upcoming launch of nine additional stores for its Nordstrom Rack off-price retail concept. Most of the stores are planned to debut in the spring of 2024, while one store is scheduled...
Best Buy has reportedly eliminated hundreds of roles in its brick-and-mortar stores. The cuts are centered on the electronics and appliance retailer’s “consultants” who focus on selling computers, smartphones and other complex products, the Wall Street Journal (WSJ) reported Friday (April 14), citing unnamed sources. With these consultant...
In retail, get ready for the “big reconsideration.” The latest retail sales data released Friday (April 14) show that in March — and for the second straight month — consumers pulled back their spending. Overall, the data from the U.S. Census Bureau shows that spending...
Everyday consumer goods are the primary target of organized retail crime (ORC) rings. Eighty-one percent of ORC groups focus on everyday consumer goods while only 11% target luxury goods, the National Retail Federation (NRF) said in a Friday (April 14) report. ORC groups have found...
While it’s never been clear whether brands and retailers were ever truly welcome in the metaverse, or if it was just an intrusion into a space meant for pure entertainment and disassociation from the real world, it seems the investments retailers have made have not...
Retailers are reporting good results from new retail media advertising tools offered by Meta. A month after the company launched Managed Partner Ads Lite and local inventory ads, retailers who have deployed these solutions have seen a lift in sales, Modern Retail reported Friday (April...
When guests check in to a luxury hotel, they expect to enjoy ultimate comfort, exceptional customer service, access to high-end amenities and facilities, and the chance to indulge in a unique and exclusive experience. These factors make up the customer experience brands want. Hotels of...
While SNAP subsidy cuts will impact its bottom line, Walmart expects much of the revenue loss to return through other tender types. Among the investor concerns Walmart CFO and Executive Vice President John David Rainey addressed during the retailer’s 2023 Investment Community Meeting Q&A were possible...
Express (EXPR) and WHP Global have acquired Bonobos from Walmart for a combined $75 million. Brand management firm WHP Global will buy the Bonobos brand for $50 million, while fashion apparel retailer EXPR will acquire the operating assets and assume the related liabilities of the...
