HanesBrands says retailers’ decisions to reduce inventories has led to a slump in sales. The apparel maker reported quarterly earnings Thursday (Feb. 2) showing that innerwear sales had fallen 19% compared to the year before. “The year-over-year sales performance was driven by macroeconomic pressures that...
Barcelona has become the latest European city to clamp down on dark stores. Last week, PYMNTS reported that the city’s council approved a total ban on the urban distribution hubs that quick commerce firms use to achieve their rapid delivery times. But the Spanish municipality...
Peloton says its focus on subscriptions, fitness as a service and third-party partnerships with Amazon and Dick’s are paying off. During its fiscal second quarter 2023 earnings call Wednesday (Feb. 1) Peloton CEO Barry McCarthy added detail to comments in a shareholder letter that portrays...
Artificial intelligence (AI) is now being deployed to fix photos that are pixelated, blurry or out of focus. Perfect Corp. — a New York Stock Exchange-listed Software-as-a-Service (SaaS) AI and augmented reality (AR) beauty and fashion tech company — said in a Wednesday (Feb. 1)...
Add Canada Goose to the list of luxury retailers hopping aboard the reCommerce train. The past few months have seen several high-end brands — including Gucci, Burberry, Balenciaga and Rolex — offer resale options as consumers look to save. It’s a trend that hasn’t gone...
As CPG brands debate whether inflation is easing or intensifying, Mondelēz expects more challenges ahead. Snack and candy giant Mondelēz International, parent company of a wide range of popular brands including Cadbury, Oreo, and Trident spoke to this outlook on a call with analysts Tuesday (Jan....
Online grocery retailer Akwaaba has partnered with payments orchestration firm CellPoint Digital. Akwaaba is leveraging the firm’s payments orchestration solution to optimize its operations as it expands beyond the six countries in Africa and the Middle East in which it is already active, CellPoint Digital...
With consumers continuing to reel at food inflation, even upscale grocers are forced to adjust. Whole Foods Market, for instance, Amazon’s premium grocery retailer, recently asked suppliers to lower their wholesale prices so that the chain could reduce prices for consumers, The Wall Street Journal reported Tuesday...
Features offered by merchants heavily influence shopper loyalty, but there are caveats, such as making sure consumers know features are available. According to findings in the new PYMNTS and Cybersource report, 2023 Global Digital Shopping Index (GDSI), the best measure of shopper satisfaction is their perception...
