Foot Locker shares plunged 34% at the release of second-quarter earnings on Wednesday (Aug. 23) as the company faces a challenging retail environment and struggles to meet sales expectations. The athletic footwear and apparel retailer reported a loss of $5 million, compared to a profit...
Beauty remains a winning category for Kohl’s, mainly due to its shop-in-shop experience with Sephora. While in its second quarter, Kohl’s saw a 4.8% decline in net sales and a 5% decrease in comparable sales, their store sales segment outperformed the company’s overall performance, remaining flat...
SpyCloud has secured $110 million in a growth round of funding to expand globally and enhance its authentication bypass prevention solutions, further fortifying digital identities against cyber threats. The funding round was led by Riverwood Capital. The identity analytics solution provider’s automated prevention tools fight back...
As restaurants continue to seek out ways to combat declining traffic, fast-casual chains including Sweetgreen, Noodles & Company and Panera Bread are taking their loyalty efforts beyond the digital sphere into their brick-and-mortar restaurants. Sweetgreen, a health-focused fast-casual concept with more than 200 restaurants, shared on its most recent earnings call that, to...
The state of recalls. That’s what it feels like with Peloton, as on Wednesday (Aug. 23) the company reported a loss that exceeded expectations and a reduction in new quarterly subscribers. The fitness company cited the recall of its bike seat post and seasonal patterns...
Twilio has introduced new artificial intelligence (AI) tools for its customer engagement platform. The new CustomerAI lineup includes both predictive and generative AI tools that aim to revolutionize customer understanding and drive personalized interactions, the company said in a Wednesday (Aug. 23) press release. “Today we are announcing...
Online used-car platform Carvana says it has added same-day delivery to a second state. First rolled out in Arizona, the service is now also available for customers in Indiana, the company announced Wednesday (Aug. 23), letting them receive their new vehicle the same day they order it. “Dozens of...
As merchants look for ways to improve the margins of online grocery, Giant Food is backpedaling, reportedly closing three delivery fulfillment centers to find a better model. Grocery store chain Giant Food, the Landover, Maryland-based Ahold Delhaize subsidiary spanning 165 stores in the DMV region and Delaware, is...
Citi has introduced a series of new offerings designed to streamline its retail banking business. The new services, announced Wednesday (Aug. 23), come weeks after the banking giant reported a jump in revenue from its personal banking business. Among these services is something called “Relationship Tiers,” which Citi...
