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As Gen Z Enters Prime Spending Years, Brands Sharpen Their Pitch

Retail TouchPoints

They’re Gen Z, born between 1997 and 2012 and comprising 20.69% of the U.S. population — just a bit fewer than Baby Boomers ( 20.93% ) and the largest current group, millennials ( 21.71% ), according to Statista. That’s approximately 67 million people in the U.S. alone — an enormous, and increasingly powerful, consumer group.

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Walmart to Equip Stores with Disability-Friendly Carts

Retail TouchPoints

Walmart’s order for approximately 8,000 carts is greater than all Caroline’s Cart orders combined since the company began manufacturing in 2012. Whether they’re caring for someone with a disability or a temporary injury, the carts support our customers when and how they need it every time they come through our doors.”

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Michel’s brand to be axed

Inside Retail

Retail Food Group (RFG) has announced the end of the Michels Patisserie chain, revealing it will work with franchisees to convert their stores to either Gloria Jeans or Donut King. There are just 19 Michels Patisserie stores across RFGs home state of Queensland, New South Wales and Victoria.

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Walgreens to Pay up to $350 Million to Settle DOJ Opioid Lawsuit

Retail TouchPoints

District Court for the Northern District of Illinois, alleged that from August 2012 through March 1, 2023, Walgreens prescribed excessive quantities of opioids, filled prescriptions significantly early and prescribed a dangerous and abused combination of three drugs known as a trinity. The Walgreens suit, amended April 18 in the U.S.

Planning 147
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Olympia Sports Files for Bankruptcy, Plans to Close Remaining Stores by Sept. 30

Retail TouchPoints

Currently, the retailer sells exclusively through its remaining physical stores following a late entry into the ecommerce space that began in 2018 and ended in April 2022. In that same month, Olympia decided to liquidate 22 of its stores, and in July 2022 the company made the decision to close the rest of its locations.

Planning 304
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Chico’s Appoints Company Veteran as New CFO

Retail TouchPoints

Oliver has been with Chico’s since 2012 and served in multiple roles, including VP – Finance and Controller and Interim CFO and SVP – Controller. Chico’s FAS has appointed David Oliver, SVP – Finance, Controller and Chief Accounting Officer, to the role of EVP – CFO and Chief Accounting Officer, effective June 24, 2023.

Finance 263
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Sears Hometown Files for Chapter 11, Citing Lack of Inventory and Heavy Liabilities

Retail TouchPoints

Sears Hometown itself was spun off from the main company in 2012. The average Sears Hometown store is 8,000 to 10,000 square feet , compared to 160,000 square feet for a traditional Sears store.