Luxury retailer LVMH’s market value has surpassed $500 billion in a first for European firms. The milestone, observed Monday (April 24) in multiple media accounts, comes weeks after the company reported a leap in sales driven by shoppers in China. The company — owner of...
Major remodels by the country’s top two dollar store chains signals expectations for prolonged higher food prices. As reported by FT earlier this week (Apr. 19), both Dollar Tree and Dollar General each plan to increase the number of existing store renovations by double-digit percentages...
Bed Bath & Beyond has declared bankruptcy months after warning about its future. The downfall of the 52-year-old home goods seller came about Sunday (April 23) after the company wasn’t able to secure funding that would have allowed it to stay afloat. “Thank you to...
Luxury retailers are promoting exclusivity as a way to focus on their core customers and keep them engaged. Following in the footsteps of iconic brands like Hermès, retailers such as Saks and Gucci have launched efforts that cater to their top clients. Saks Goes the...
Walmart’s online grocery sales growth could take a toll on the rest of the business. The megaretailer, the largest grocer in the world, shared in its 2023 Annual Report, released Thursday (April 20), that the rise in eGrocery sales could negatively impact the company’s ability to drive sales...
Amazon has launched a private-sector partnership working to stop the sale of counterfeit goods. The new Anti-Counterfeiting Exchange (ACX) allows participating stores to share information about counterfeiters to help all industry participants identify and stop counterfeiters who might try to use their services, Amazon said...
Pinterest is reportedly losing some advertising clients as brands look for measurable results. With brands concerned about the direction of the economy and reducing costs, they are looking to direct their ad spend toward marketing channels to which they can better attribute sales, ModernRetail reported...
Just last month, Gap reflected on a year of struggle, with numerous net losses, bloated inventory levels and a search for a permanent CEO. In the wake of these challenges, the retailer has been exploring strategies to regain momentum and reconnect with consumers. As part of...
Without much fanfare, Walmart unveiled a new edition of its Google TV stick with updated specs and a revamped remote, competing directly with Amazon’s Fire TV Stick. While the competition for TV sticks probably won’t determine the fate of these two retail giants, the new...
