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FedEx Plans $1 Billion in Cuts as Demand Falls

Retail TouchPoints

FedEx is planning to cut an additional $1 billion in costs, citing weak demand that led to a disappointing profit for Q2 2023, which ended Nov. The reductions will add to cost-cutting measures announced in September to bring FedEx’s total fiscal savings plan for 2023 to $3.7 FedEx had expected revenue of $23.7

Planning 246
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Tom Ford opens its first Australian Beauty concept store

Inside Retail

Estee Lauder’s beauty brand Tom Ford will open its first concept Australian Beauty Store at Chadstone – The Fashion Capital. Tom Ford opened its first store in Australia in Sydney in 2011, and it was acquired last year by beauty behemoth Estee Lauder in a US$2.8

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Reports: Nike Cutting Ties With Six Retailers, Including DSW and Urban Outfitters

Retail TouchPoints

Macy’s will no longer receive products directly, but the Finish Line at Macy’s business will still carry Nike items. Nike has been steadily growing its own DTC channel over the past decade: in 2011, DTC generated $3 billion , representing 16% of gross sales; by 2020, those numbers soared to $12.4

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Consumer class action launched against JB Hi-Fi over ‘junk’ warranties

Inside Retail

A 2023 survey found 32 per cent of consumers had bought them at one time or another, often after being convinced by sales techniques. The suit is seeking refunds for consumers who bought such warranties between January 1, 2011 and November 29, 2023. Further reading: JB Hi-Fi says full-year profit fell, but sales up 4.3

Consumer 264
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In Push for a Turnaround at Kohl’s, Investor Group Nominates Nine Board Directors

Retail TouchPoints

Macellum Advisors GP , Ancora Holdings , Legion Partners Asset Management and 4010 Capital, together with their respective affiliates, are pushing the plan. in 2011 to 6.1% in 2019, and that the retailer earned about 44% less in 2019 than it did in 2011 despite similar total sales and $6.6

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Best Buy to Launch Third-Party Marketplace, Again

Retail TouchPoints

After shutting down its first attempt in 2016, the retailer is back eight years later with plans to launch a new online marketplace built on the Mirakl platform in summer 2025. Bedo has been at Best Buy for 24 years but took on his new role just this past October. Best Buy is giving a third-party marketplace another go.

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Melbourne quake raises question for retailers: Are you ready for a crisis?

Inside Retail

It meant that most people were at home rather than in offices, stores, or on the street when the quake hit at 9:15 am, likely preventing injuries. We have to wait until we know what the timing is and then we’ll build a plan to get it back up and going again,” he said. In February 2011, a 6.2-magnitude