Drawing on a 40-year purview as a Macy’s employee that began as a trainee in 1983 and has seen him in the role of chairman and CEO for the past six, Jeff Gennette has seen more than his shares of ups and downs atop one...
With its focus on discretionary products and middle-income consumers, Kohl’s has been hard hit by the current macroeconomic trends, the retailer said Thursday (Nov. 17) during its quarterly earnings call. “Persistently high inflation continues to dampen consumer spending and our business given our exposure to discretionary categories...
Bath and Body Works said a focus on “innovation and newness” helped the personal care and fragrance retailer end its most recent quarter on a strong note. The company saw its stock jump 20% early Thursday (Nov. 17) after its earnings release showed a positive...
As retailers look to limit returns during the holiday shopping season, PayPal-owned Happy Returns has debuted a new returns-based revenue stream for Shopify merchants. Return Shopping is designed to “drive shoppers to merchants’ eCommerce storefronts within the return experience,” helping retain revenue without the accounting...
The country’s third largest retail chain warned investors that, despite unprecedented promotions aimed at reducing excess inventory, its critical holiday sales season would fall short of expectations. In speaking to investors about its third-quarter results, Target CEO Brian Cornell said the Minnesota-based retailer was bracing...
Consumers spent more last month than some observers expected. What remains to be seen is whether that trend can continue. Commentary from Target Wednesday (Nov. 16) and PYMNTS’ own data cast some significant doubt over that sustainability. As reported Wednesday, United States retail sales rose...
The nation’s second-largest chain of hardware stores said Wednesday (Nov. 16) that its commercial or “Pro” business grew 19% last quarter, as consumers continue to invest in home remodeling projects rather than face the turbulence and high mortgage rates that are currently crimping housing sales....
Apparel retailer TJX reported an increase in sales Wednesday (Nov. 16), a development the company’s CEO attributed to consumers “treasure hunting” for the chain’s off-price offerings. “Looking forward, while not immune to macro factors, we are convinced that our flexible business model and value proposition will continue...
Researchers at Spain’s Universitat Politècnica de Catalunya recently published a study showing that reusing 1kg of clothing could save 25 kg of carbon dioxide emissions. Scaling these findings up and it’s clear that extending the life of garments could dramatically reduce the environmental impact of...
