Retail

Retail
99 Cents Only Declares Bankruptcy as It Shuts Down Stores
April 08, 2024

Discount retailer 99 Cents Only has declared bankruptcy as it prepares to shutter its stores. The company announced its Chapter 11 filing Monday (April 8), days after it said it was closing all of its 371 locations in the southwestern part of the country. “This was an extremely difficult...

Retail
Luxury Brands Spend Billions for High-End Shopping Real Estate
April 07, 2024

Luxury brands like Gucci are reportedly spending billions to stay at high-profile addresses. As The Wall Street Journal (WSJ) reported Saturday (April 6), these companies are worried that if they don’t snatch up their flagship stores, one of their competitors will purchase the property and evict them....

Retail
Brands Launch Eclipse-Inspired Deals to Outshine Competitors
April 06, 2024

As the total solar eclipse draws near, brands are reaching for the stars, seizing on the hold that the event has on the public’s imagination. Take, for instance, Krispy Kreme. Through Monday (April 8), the day of the eclipse itself, the sweet treats brand is offering...

Retail
Amazon and Walmart Rethink Self-Checkout to Manage Costs
April 05, 2024

As retailers look to find the right combination of technology and human labor to boost their profit margins, Amazon and Walmart have both made changes to how they approach self-checkout in stores. Amazon is replacing its Just Walk Out technology at Amazon Fresh stores with its smart shopping cart, the Amazon Dash Cart. “We’ve …...

Retail
Levi’s D2C Captures 48% of Revenue Amid Improvements to eCommerce Experience 
April 03, 2024

Levi’s is seeing its direct-to-consumer (D2C) business gain share, with transformations to shoppers’ digital journeys yielding strong eCommerce growth. The apparel company announced Wednesday (April 3) in its first quarter fiscal 2024 financial results that overall net revenue fell 8% year over year, dropping by...

Retail
Tennessee Titans Partner With Fanatics as Teams Digitize the Fan Experience
April 03, 2024

As sports teams look to the rise of digital platforms to drive engagement and spending, the Tennessee Titans are the latest to announce a long-term strategy for their retail arm’s omnichannel growth. The NFL team shared Monday (April 1) that it entered a long-term exclusive partnership with digital sports...

Retail
Ulta Warns of Cooling Demand Amid Ongoing Consumer Caution
April 03, 2024

After years of strong sales growth, Ulta Beauty is warning of a slow period ahead. The retailer’s chief executive said Wednesday (April 3) that he expects moderate mid-single digit sales growth, sending the company’s stock tumbling. “What we’ve seen so far is a slowdown in the total category...

Retail
Amazon’s Retail Dominance Kept in Check by Walmart’s Food Sales
April 03, 2024

Since 2019, PYMNTS Intelligence has closely tracked the battle between the U.S.’s two top retailers, Walmart and Amazon, and each quarter we share our findings in our “Whole Paycheck Report.”  As is made clear by the title of our most recent report, “New Consumer Spend...

Retail
Shipt Sees Financial Pressure Driving Online Seasonal Sales
April 03, 2024

As economic pressures continue to constrain consumers’ spending power, Shipt is seeing on-demand delivery shoppers turn to deals and concentrate their engagement around peak times. In an interview with PYMNTS, Katie Stratton, chief growth officer at the Target-owned on-demand delivery aggregator, spoke to how consumers’...