Kanye West has reportedly set up a location on Melrose Avenue in Los Angeles — on the same block as an Adidas store. The Yeezy location features a 7,400-square-foot showroom and is two doors away from the Adidas store, Rap-Up reported Thursday (May 4). It’s...
Inflation has caused competition in retail and grocery to intensify as businesses fight for a smaller and smaller piece of the revenue pie. More than half of grocery shoppers and more than two-thirds of retail shoppers are cutting back on nonessential spending. PYMNTS’ data shows...
Carvana expects to return to profitability in this quarter after cutting costs. The used car retailer expects to achieve positive adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in the current quarter, Carvana said in a Thursday (May 4) letter to shareholders. This forecast...
Bed Bath & Beyond is seeking reparations from a shipping company it says “exploited customers.” The bankrupt retailer filed its complaint against Orient Overseas Container Line Limited and OOCL (Europe) Limited (OOCL) with the Federal Maritime Commission (FMC) on April 27. “As alleged herein, respondent has exploited price inflation in container shipping...
Despite lowering its sales outlook for the third straight quarter due to a slower-than-expected recovery in Asia, cosmetics company Estée Lauder remains optimistic about the Chinese market. The company, which also owns cosmetic brands such as MAC and La Mer, announced Wednesday (May 3) that...
Nordstrom is reportedly shuttering two of its San Francisco stores amid declining foot traffic. That’s according to a Wednesday (May 3) Wall Street Journal report, which cites a number of factors for the closing, including worries about crime and the persistence of remote work keeping...
We’ve reached a milestone with interest rates — and by extension, retailers may find it tougher to sell their inventories. As the world knows by now, the Federal Reserve boosted the target range for its benchmark interest rate by 0.25%. And we’ve crossed a threshold,...
As consumers weigh where to buy their groceries, ease and convenience are the top priorities. By the Numbers Research from PYMNTS’ study “Consumer Inflation Sentiment Report: Higher Prices Fuel a Deal-Seeking Competition,” which drew from a survey of more than 2,100 U.S. consumers in February,...
In an effort to embed its offerings more deeply in consumers’ day-to-day routines, The Kroger Co.is expanding its digital presence beyond grocery. The grocery giant announced Wednesday (May 3) the launch of sushi and floral arrangement deliveries via the aggregator from more than 1,400 stores,...
