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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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HATCH is Reinventing Maternity Retail — and Now Plans to Bring 3 Legacy Brands Along for the Ride

Retail TouchPoints

I became pregnant in 2011 and saw that there was a white space in the maternity category,” said Goldman. “I Goldman plans on extending its reach to the three additional brands under HATCH Collective to help keep customers across all the banners connected.

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Tom Ford opens its first Australian Beauty concept store

Inside Retail

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 The corporation planned to fund this deal using cash, debt, and $300 million in delayed payments to the sellers that will become due in July 2025.

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

Retail TouchPoints

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 The shoe brand is planning to expand its own brick-and-mortar footprint with 30 additional stores in the second half of 2021.

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

Inside Retail

The suit is seeking refunds for consumers who bought such warranties between January 1, 2011 and November 29, 2023. They were of little or no value because – the class action argues – customers already had the same rights for free under the Australian Consumer Law. Further reading: JB Hi-Fi says full-year profit fell, but sales up 4.3

Consumer 264
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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. Best Buy is giving a third-party marketplace another go. Bedo has been at Best Buy for 24 years but took on his new role just this past October.

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

Inside Retail

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. The big challenge is [that] a lot of our casual team have not been working a lot anyway because of lockdown, so we’re just working out a plan for those team members. In February 2011, a 6.2-magnitude