In today’s top retail news, Chewy, Inc. registered a 51 percent year-0ver-year increase in net sales for its fiscal fourth quarter of 2020, Walgreens said its least earning results were hit by an “exceptionally weak cough, cold and flu season.” Plus, Lululemon reported that the near-doubling of its direct-to-consumer (D2C) business powered a 24 percent increase in total sales last quarter.
eCommerce Pet Supply Retailer Chewy’s Net Sales Surge In Q4
eCommerce pet product, supply and prescription retailer Chewy, Inc. posted a 51 percent year-over-year rise in net sales for its fiscal fourth quarter of 2020. The company reported earnings before interest, taxes, depreciation and amortization (EBITDA) of $60.8 million on net sales of $2.04 billion for the fourth quarter.
Walgreens’ Results Hit By COVID, ‘Exceptionally Weak’ Cold And Flu Season
Walgreens, the retail pharmacy company, said on Wednesday (March 31) that its newest earnings results were negatively impacted by an “exceptionally weak cough, cold and flu season.” The company reported $32.8 billion in total revenue with $1.26 in adjusted earnings per share for the three months concluding Feb. 28.
Lululemon D2C Sales Double, Account For Over Half Of 2020 Revenues
Lululemon said that the near-doubling of its direct-to-consumer (D2C) operation fueled a 24 percent rise in total sales last quarter, while the company anticipates growth to continue into this year without any signs of the adult sportswear market slowing following the pandemic. “Our continued growth demonstrates the strength of lululemon — before, during and as the pandemic subsides,” CEO Calvin McDonald said on an earnings call.
MySize CEO: The ‘Free Returns’ Retail Model Is Unsustainable
Costly and voluminous returns might not be a novel issue, but MySize Founder and CEO Ronen Luzon told PYMNTS that it is a growing issue, particularly provided the heightened amount of digital shopping that took place during the pandemic – in addition to less apparent drivers such as weight gain, the inability to try things on amid the pandemic, or the issue of pure D2C brands that don’t have any brick-and-mortar locations.
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