Despite facing challenges in the first quarter due to changes in Foot Locker’s physical presence, brand assortment, digital initiatives, and omnichannel strategies, the retailer is using concept stores as experimental spaces to explore localization in a bid to make deeper customer connections. During the Q1...
Ulta Beauty CEO Dave Kimbell shared the company’s first-quarter results on Thursday (May 25), highlighting a 12.3% increase in sales compared to the previous year. Same-store sales also experienced a positive growth of 9.3% over the previous year. Despite the positive results, the beauty retailer...
Generative AI has permanently altered how humans create new ideas and content, yet even OpenAI's own AI detector misses 74% of AI-generated content. In the inaugural issue of the “Generative AI Tracker®,” PYMNTS describes how the race is on to ensure that human-generated materials retain...
Value may outweigh convenience when it comes to recurring subscriptions, as consumers seek any and all avenues to cut costs. Consumers are digging deep to find ways to save as inflation continues to distort most shoppers’ budgets. Subscription plans experience some of the steepest drop-off...
Fueled by rising digital threats, security stands top of mind for retail banking customers. Nearly 7 in 10 worry about their personal and financial data vulnerability when engaging with online financial services. PYMNTS’ latest research found that this security concern is prevalent across demographics, particularly...
As demand for faster payments increases around the world, financial institutions (FIs) in Europe are having to beef up investment in real-time data and payment processing infrastructure to meet the needs of their corporate clients. But it might take a while for those investments to...
Costco’s comparable sales growth has slowed as consumers reduce their purchases of discretionary items. The membership warehouse club’s comp sales rose 0.3% year over year during the quarter that ended May 7, Costco said in a Thursday (May 25) earnings release. Bigger-ticket discretionary items like furniture...
The last of the earnings reports are trickling in across the FinTech IPO Index, with more decliners than gainers, which in turn helped send the index down 2.4% for the week. OneConnect posted results that showed total revenues declining in the most recent quarter by 9.1% year...
Chanel has reportedly seen a slowdown in the United States. The privately-held luxury brand’s sales growth in the U.S. has dipped from about 10% in 2022 to “in the single digits” this year, the Financial Times (FT) reported Thursday (May 25). “We had a softening in the U.S.,...
