This week in grocery, Instacart taps AI as supermarkets test shoppable content and new formats. OpenAI, creator of artificial intelligence (AI) chatbot ChatGPT, announced Wednesday (March 1) that developers are now able to integrate the bot into their products, with one of the first companies...
Although they currently account for only 10 of its total portfolio of 722 physical locations under its many brands, Macy’s CEO Jeff Gennette can’t stop talking about the big opportunity he sees in these comparatively little stores. Specifically, the company’s eight Market by Macy’s and two Bloomies locations that...
Off-price and discount retailers are responding to an increasingly clear divide between deal chasers compared to other bargain shoppers as the opportunistic value-seeking trend has become more defined. This dynamic featured prominently in the fourth quarter of fiscal 2022 of Ohio-based discount chain Big Lots,...
Activewear was a standout performer during a quarter in which American Eagle Outfitters earned its second-highest revenue. The clothing, accessories and personal care products retailer reported the “rapid success” of its lingerie brand Aerie’s extension into activewear and that its core brand American Eagle launched a sub-brand...
Best Buy expects sales will dwindle this year as cash-strapped consumers shun big-ticket home electronics. “As we enter FY24, the consumer electronics industry continues to feel the effects of the broader macro environment and its impact on consumers,” Matt Bilunas, the retailer’s finance chief, said...
Amidst a year-plus of grim headlines, retailers could use a bit of good news. As reported by WSJ earlier this week (Feb. 27), shipping rates, especially along the all-important trans-Pacific route, have tumbled in recent months from their record highs last year. U.S. retailers are...
Apparel retailer Abercrombie & Fitch called out its focus on store performance and progress on its 2025 Always Forward plan unveiled in June during its first investor day since 2018. Abercrombie & Fitch CEO Fran Horowitz said the retailer opened 21 stores “and right sized...
With American shoppers feeling pinched, retailers hope $5 goods will help drive traffic. Target is the latest store to embrace this movement, Reuters reported Tuesday (Feb. 28), after the retailer said during an earnings call that it would begin carrying more of its own private...
In the wake of a “kitchen sink” quarter that saw the ailing department store chain close out the year with a money-losing Q4, Kohl’s new CEO is staking the retailer’s comeback on a new management team’s ability to boost the customer experience while continuing the expansion...
