As convenience stores try to swipe grocery sales, supermarkets are responding with new small-format locations. The latest example of this brewing turf war has emerged in Europe, where industry giant Asda is taking on these neighborhood competitors on their turf. This, as the UK-based supermarket chain announced this week...
Walmart has launched a website that uses visual search to do the shopping for consumers. The new TrendGetter uses image recognition technology to find the item a shopper is looking for on its website and display the options and prices, Walmart said in a Thursday...
Fashion retailer Express has turned to WHP Global as it begins a “large-scale transformation.” WHP, a brand turnaround firm that owns a number of companies, including Toys R Us, will take a 7.4% stake in Express, the retailer announced Thursday (Dec. 8). Express CEO Tim Baxter said the partnership was...
GameStop’s CEO says the ailing retail chain is on the cusp of an unprecedented turnaround. While investors who saw the company post back-to-back sales declines and its seventh consecutive quarter of losses Wednesday (Dec. 7) evening might disagree, CEO Matthew Furlong said the path from...
Rent the Runway achieved record revenue as its bargain-hunting customers sought deals on everyday fashion. The company said its revenue for the quarter rose 31% year-over-year, while its active user base increased, with subscribers beginning to use the fashion rental and retail service for more than...
Low-income consumers are turning to convenience stores for cheap and easy meals. This, as Casey’s General Stores, the nation’s third-largest convenience retailer and fifth-largest pizza chain, said the behavioral shifts of its lower-income customers is driving growth. “[One] thing we’re seeing with lower income consumers is...
Inflation has caused consumers to reconsider their spending, which has lifted Campbell’s prepared food sales. This, as the food company announced Wednesday (Dec. 7) in a presentation accompanying its first quarter FY2023 earnings report that consumption of its ready-to-serve soups is up 9% year over year and 18% relative...
Walmart’s CEO says the retailer could raise prices if authorities can’t curb “historically” high shoplifting. Speaking to CNBC Tuesday (Dec. 6), Doug McMillon said theft at the company’s stores is “higher than what it has historically been,” joining a chorus of retail voices warning against a nationwide...
With revenues continuing to slide, Stitch Fix is looking to improve customer retention. The artificial-intelligence-powered personal style site outlined a number of strategies to reverse its falling revenues during an earnings call Tuesday (Dec. 6) evening, including ways to deeper interaction and “listening” between the...