Retail Wire
JULY 2, 2024
California's largest insurer, State Farm, has issued a stark ultimatum to the California's Department of Insurance: approve significant rate hikes for home insurance or face the company's exit from the market.
Retail TouchPoints
JULY 2, 2024
JCPenney and Rare Beauty Brands have created the Lift Beauty Accelerator , a brand incubation initiative aimed at beauty brand founders from underrepresented backgrounds. The program will award $10,000 grants, retail distribution and mentorship with retail executives to five early-stage beauty brands founded by Black and Brown female-identifying leaders.
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Retail TouchPoints
JULY 1, 2024
Citing feedback from its predominantly rural customer base, Tractor Supply will eliminate all DEI (diversity, equity and inclusion) roles, withdraw its carbon emission goals and stop support for “nonbusiness” LGBTQ+ and voter registration causes. The 2,250 -store retailer will refocus its charitable efforts on veterans, emergency response, animal shelters and farmers’ markets. “ Going forward, we will ensure our activities and giving tie directly to our business ,” according to a company stateme
Inside Retail
JULY 1, 2024
Retail NZ, together with online social media platform TikTok, has launched an initiative to entice youth into retail careers. The campaign, 7 Jobs in 7 Days, will feature social media influencers interviewing young retail leaders, showcasing various career pathways in the sector. Each will share their stories, career growth, and aspects of their jobs.
Retail Focus
JULY 2, 2024
Having long been at the top of customer’s wish lists, Marks & Spencer is officially returning to Bristol city centre with a new flagship store at Cabot Circus. The repositioning with a new M&S unlocks a significant investment to improve the customer experience and merchandising at Cabot Circus. Alongside their latest clothing and home offer, the new store will bring a market leading grocery offer and M&S café, which aligns to Hammerson’s strategy of diversifying the purpose of its de
Retail Gazette
JUNE 30, 2024
Shein is planning to source its clothes for its European market in Turkey as it looks to reduce criticism about its supply chain. The fast fashion giant is understood to be looking at using suppliers that are closer to its main markets after receiving a backlash amid its plans for a £50bn floatation on the London Stock Exchange, This is Money reported.
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Retail TouchPoints
JULY 1, 2024
Alibaba has revealed that its AI tools for global suppliers have been adopted by approximately 30,000 smaller businesses on its platform, including many in developing countries. According to the global ecommerce giant, among the top 20 countries making the most frequent use of these tools approximately half are developing countries, and about 300 of the 500 events and seminars Alibaba is rolling out for global suppliers this fiscal year will be held in developing nations.
Inside Retail
JUNE 27, 2024
Adore Beauty has agreed to acquire Blue Mountains-based beauty and wellness brand Ikou for $25 million. Ikou has more than 300 products across organic skincare, bath and body, home fragrance, herbal tea and spa lifestyle accessories categories. The brand also claims its products are organic, Australian-made, and cruelty-free. Ikou is profitable and debt-free and forecasts a revenue of $8.1 million and earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $2 million by the e
Retail Dive
JULY 2, 2024
The retailer was unable to secure the financing necessary to keep operating. The fate of sibling Eastern Mountain Sports remains unclear.
Retail Gazette
JULY 1, 2024
JD Sports COO Sherilyn Paterson is to leave the retailer after a 12 year stint at the sportswear giant, Retail Gazette has learnt. Paterson, who was promoted to chief operating officer last year, is understood to be stepping down for personal reasons. During her 12 year tenure, she has held roles including merchandising director and group operations director, before taking the COO post.
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Retail Wire
JULY 1, 2024
Kyle MacLachlan, renowned for his iconic roles in "Blue Velvet" and "Twin Peaks," has embarked on a new culinary adventure as the face of Arby’s Potato Cakes.
Inside Retail
JUNE 30, 2024
From acquiring an engagement ring to buying a wedding dress, few life events are as rife with retail opportunities as planning and hosting a wedding. Last year, the average wedding cost around US$38,000. In 2019, that number was US$28,000, reports The Knot, a global technology company that provides content, tools, products and services for couples planning weddings.
Retail Dive
JUNE 28, 2024
The retailer said it would focus on "being a good neighbor," but the Human Rights Campaign said the decisions mean the company is "turning its back on their own neighbors.
Retail Gazette
JULY 2, 2024
Frasers Group has acquired Frenchgate Shopping Centre in Doncaster as it continues to grow its real estate portfolio. The 770,000sq ft shopping centre is located within the town centre, welcoming over 16m customers a year, and houses retailers such as Next, H&M and TK Maxx. Frasers said the deal provides an opportunity to more than triple the size of its Sports Direct shop to over 35,000sq ft and introduce more of its brands – USC, Game and Evans Cycles – into the store.
Speaker: David Nisbet, Everett Zufelt, and Michaela Weber
Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many. Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. 🧐 💡 Getting checkout right can mark the difference between a successful sale and an abandoned cart, yet many businesses fail to make payments a part of their commerce strategy even when it has a direct impact on revenue.
Retail Wire
JUNE 26, 2024
Amazon has achieved a significant milestone by surpassing a $2 trillion market capitalization for the first time in its history. This momentous event occurred during intraday trading on Wednesday, propelling Amazon into an elite group of tech giants that have crossed this formidable threshold. The company's stock closed up 3.9% at $193.61, marking a significant moment for the e-commerce and cloud computing behemoth.
Retail TouchPoints
JUNE 28, 2024
Saks Fifth Avenue is doubling down on its luxury personal shopping and styling service, The Fifth Avenue Club. One year after its launch as a standalone concept, the Club has seen high client engagement and is planning to open additional standalone locations this year to bring its total to 20. The Fifth Avenue Club began in Saks Fifth Avenue stores, such as its Beverly Hills flagship , offering loyal customers high-touch service and personalized experiences.
Inside Retail
JUNE 27, 2024
Lululemon , along with other existing and new investors, has participated in clothing recycler Samsara Eco’s latest US$65 million ($100 million) funding round. Samsara Eco said the investment will scale up its recycling capabilities as it seeks to build more commercial facilities in Southeast Asia in the next few years. The facilities will be designed to recycle millions of tonnes of plastic waste such as textiles and packaging into monomers, the molecular building blocks of plastics, to turn th
Retail Times
JULY 2, 2024
Retail Times publishes international & UK retail news covering products, data, tech, packaging, people, research, comment and more besides! Budweiser Brewing Group UK&I, a subsidiary of AB InBev, today announces an agreement with Mahou San Miguel to distribute San Miguel in the UK. This agreement will bring the Spanish brewer’s two leading brands under one umbrella, with Budweiser Brewing Group already distributing Mahou in the UK since 2021.
Speaker: Jay Black, Senior Account Executive
Let's set the record straight: in-store retail isn't dead - it's evolving! Faced with the digital age and the demands of omnichannel shopping, some retailers are thriving while others are struggling to adapt. Join Jay Black in this exclusive session as he explores the strategies that set successful stores apart, including: Crafting unique and unforgettable in-store experiences 🛍️ Mastering the art of retail demands 🛒 Navigating inventory challenges in today's climate 📦 an
Retail Gazette
JULY 2, 2024
Administrators of The Body Shop have set a deadline of tomorrow (July 3) for prospective buyers to submit bids. It comes amid reports that administrator FRP is keen to wrap up the sale of the retailer remaining assets after its collapse in February. It is understood that Laura Ashley owner Gorden Brothers is the favourite to take on the chain after rival private equity firm, Bensons for Beds owner Alteri, pulled out of the race, The Sun reported.
Retail Wire
JUNE 26, 2024
Last week at the Cannes Lions International Festival for Creativity, Toys "R" Us showcased a mini promo film made predominantly using OpenAI's text-to-video tool, Sora.
Retail TouchPoints
JULY 2, 2024
Ingka Investments — the investments arm of Ingka Group , which owns the majority of Ikea stores worldwide — has invested in a new retail office tower being built on New York City’s iconic Fifth Avenue. Rendering of 570 Fifth Avenue, which will feature an office tower and ground-level Ikea. (Photo credit: KPF) Located at the intersection of the Plaza and Grand Central Districts, 570 Fifth Avenue will be a 1,000,000 -square-foot mixed-use commercial building and marks the largest development
Inside Retail
JUNE 30, 2024
Cosmetics retailer Mecca has opened the revamped 555sqm Carousel store in Cannington, marking its biggest location in Western Australia. The store rounded out a five-year expansion initiative to provide the services, brands and experiences customers are looking for, The West Australian reported. Since 2019, Mecca has expanded its presence in Western Australia with the redevelopment of its Karrinyup, Subiaco, Booragoon and Carousel stores, which paved the way for the entry of 60 additional beauty
Advertiser: ZoomInfo
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Shopping Center
JULY 2, 2024
Milledgeville, Ga. — Marcus & Millichap has brokered the $8.3 million sale of two retail properties located in Milledgeville. An undisclosed buyer acquired Town Central Shopping Center, a 140,097-square-foot retail center,… The post Marcus & Millichap Brokers $8.3 Million Sale of Retail Properties in Milledgeville, Georgia appeared first on Shopping Center Business.
Retail Gazette
JULY 2, 2024
Shoe Zone plunged this morning (2 July) as the business warned high shipping costs would hit its profits this year. The retailer said it had “continued to experience cost pressures associated with container prices due to a reduction in the supply of shipping vessels”. It noted that paired with the continuation of a reroute away from the Suez Canal amid the ongoing attacks in the Red Sea, container prices have “risen significantly over the last six months”.
Retail Wire
JUNE 27, 2024
In response to persistent profitability challenges and eroding margins, Walgreens announced on Thursday its decision to close a substantial number of underperforming stores across the United States. This strategic move is part of a broader multi-year footprint optimization program aimed at enhancing the company's overall efficiency and financial health.
Retail TouchPoints
JUNE 26, 2024
Is that livestream you’re watching being hosted by an actual person? The answer to that question may be less clear in the future as virtual influencers become more prevalent and hard to detect. In this Retail ThinkTank Ideation Session, Alicia Esposito chats with author Sharon Gai about the emergence of virtual influencers, why so many brands are embracing them, and what their growth in the ecommerce landscape means for how we create and connect with our digital identities.
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Inside Retail
JUNE 26, 2024
Former Tigerlily CEO Travis Wright has joined Ecommerce Equation as chief product officer. Wright left Tigerlily after Seafolly acquired the swimwear company. Prior to joining Tigerlily, Wright served as GM at Esther & Co. “Travis brings a unique blend of strategic vision, hands-on experience, and empathetic leadership to Ecommerce Equation,” said Jay Wright, Ecommerce Equation founder and CEO. “Her appointment as chief product officer marks an exciting chapter for our comp
Retail Times
JULY 2, 2024
Retail Times publishes international & UK retail news covering products, data, tech, packaging, people, research, comment and more besides! Justin Thomas, VP of sales, North Europe at Akeneo, argues that retailers need a more product data consistent approach to their channels to market to ensure the best possible experience for their customers We’ve all been discussing “omnichannel” strategies for years, and it seems the complexity of managing these channels only increases.
Retail Gazette
JULY 1, 2024
Smiffys has been snapped up in a pre-pack deal to US gifts and fancy dress specialist Ad Populum. PwC, which was appointed as administrator, completed the sale of the fancy dress retailer, which has stores in Leeds, Liverpool, Newcastle and Oxford. The Leeds based business, which has been running for more than 100 years, saw its financial performance significantly impacted by the pandemic, which led to a drop in demand for its costume and party products.
Retail Wire
JUNE 26, 2024
German engineering giant Robert Bosch is considering a potential bid for U.S. appliances manufacturer Whirlpool, a move that could significantly bolster Bosch's standing in the household appliances market. This potential acquisition, which sources say is still under discussion, would place Bosch in a stronger position against its growing competition from Asian manufacturers.
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