Retail Wire
MAY 26, 2024
In a significant move, Dairy Manufacturers Inc., a Texas-based company, has initiated a voluntary recall of several baby formula products after they were found to be noncompliant with U.S. Food and Drug Administration (FDA) regulations. The recall encompasses all lot codes of three specific products: Crecelac Infant 0-12, Farmalac 0-12, and Farmalac 0-12 Low Lactose.
Inside Retail
MAY 26, 2024
Beefy’s Pies witnessed $6 million domestic network sales from December 11 to end of April, up 7 per cent year over year, reflecting an improvement since Retail Food Group’s $10 million acquisition of the beef pie brand. Its average transaction value during the period rose 3.6 per cent to $15.81 while average weekly sales totalled $33,500.
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Retail Wire
MAY 26, 2024
The global fitness equipment market is projected to reach $18.4 billion by 2033, growing at a CAGR of 3.02% from 2024 to 2033, according to Allied Market Research. Key drivers include the integration of Internet of Things (IoT) technology in fitness devices and the rise of corporate wellness programs. IoT-enabled equipment captures workout metrics in real time, enhancing user engagement and offering personalized insights.
Inside Retail
MAY 26, 2024
Series 3 of HBO’s acclaimed satirical drama series, The White Lotus , is being produced in Thailand this year, after successful seasons shot in Hawaii and Sicily. The Thai Government hopes that the attention it garners will ignite a surge in big-spending visitors. The series will hit the screens in 2025 but already the retail, hospitality and sundry other tourism business owners are licking their chops.
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Retail Wire
MAY 26, 2024
As consumers become more mindful of their spending, the global sales of cooking ingredients and meals saw a notable increase of 4.4% in 2023, driven by inflation and higher commodity prices, according to Euromonitor International. This trend underscores a shift in consumer behavior towards more economical choices while still showing a preference for premium, healthier, and environmentally sustainable options.
Retail Gazette
MAY 26, 2024
Ted Baker’s largest creditor has fallen out with the chain’s administrators over claims of a conflict of interest. The retailer’s main lender Secure Trust Bank attempted to replace Teneo as administrators as it is owned by the same private equity firm that owns a stake in Ted Baker owner Authentic Brands, The Times reported. It is understood that Secure Trust was concerned that Teneo might have an incentive to act within the interests of its owner CVC, rather than creditors.
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Retail Gazette
MAY 26, 2024
M&S and Next have made early expressions of interest in submitting possible rescue bids for The Body Shop as administrators prepare to launch an auction. Administrators at FRP Advisory revealed last week the vegan beauty chain would be put up for sale the second time within a year if its plans for a company voluntary arrangement (CVA) fell through.
Retail Wire
MAY 26, 2024
Walmart has officially ended its consumer credit card agreement with Capital One, marking a significant shift in the retail giant's financial partnerships. This decision follows a series of disputes over customer service issues that culminated in a legal battle and a federal judge's ruling.
Hyken
MAY 26, 2024
Each week, I read many customer service and customer experience articles from various resources. Here are my top five picks from last week. I have added my comments about each article and would like to hear what you think too. Is Your Net Promoter Score Biased? by Alex Bitca (Retently) Is your Net Promoter Score a reliable metric for judging what customers think of your business, or is it biased?
Retail Wire
MAY 26, 2024
A Maryland family experienced a terrifying ordeal when their Nissan SUV spontaneously burst into flames in their driveway, waking them in the early morning hours. Vicki and Philip Hill, along with their three young children, were jolted from their sleep by the sound of exploding airbags as the vehicle erupted into fire on May 14, just before 6 a.m.
Speaker: David Worrell, CFO, Author & Speaker
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Retail Gazette
MAY 26, 2024
THG has taken its Australian business partner to the High Court over claims of unpaid bills. The ecommerce group took the dispute to court last September to pursue alleged unpaid invoices worth £1.4m owed by Nutrition Depot, The Telegraph reported. THG argued the Queensland-based company, which had been its exclusive distributor of MyProtein products in China and Macau, had breached its distribution contract by not settling the invoices.
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