In March, PYMNTS reported on Nordstrom’s shift from its prior reputation of luxury and exceptional service to utilizing substantial discounts to manage inventory, resulting in decreased sales and profits during the fourth fiscal quarter. Today, has the narrative evolved? While the retailer asserts a more...
Luxury watchmaker Rolex plans to boost its presence in the retail space by acquiring watch merchant Bucherer. This acquisition will ensure the continuation of Bucherer’s success and strengthen the close ties between the two companies that have been nurtured since 1924, Rolex said in a Thursday (Aug. 24)...
The recent news that Shein and Forever 21 are linking up to cross-sell underscores the importance of returns as part of the commerce continuum. As PYMNTS reported Thursday (Aug. 24), Shein is gearing up to sell Forever 21 clothing and accessories on the Shein site,...
Savings app Shopmium has integrated Venmo into its cash-back redemption offering. As the Salt Lake City company said in a Thursday (Aug. 24) news release, this means its users can now connect and use their Venmo accounts to get cash-back deposits. Until now, shoppers have only been able...
Walmart has partnered with Alphabet-owned on-demand drone delivery provider Wing to expand its drone delivery services to customers in the Dallas metro area. This collaboration aims to enhance convenience and innovation in last-mile delivery solutions, Walmart said in a Thursday (Aug. 24) press release. The new offering will be introduced...
Chinese fast-fashion giant Shein has launched a partnership with American clothing retailer Forever 21. The collaboration, as detailed in a Thursday (Aug. 24) announcement, would allow Shein to sell Forever 21 items on its site and eventually operate Shein shops inside Forever 21 locations. Shein will acquire...
With the impact of inflation causing changes in consumer behavior and their preferences in extravagances, — with some opting for travel and others exploring luxury brands — luxury names such as Prada and Hermès have identified a previously untapped market potential. This realization has led...
ParcelLab has unveiled a new product that transforms the returns, warranty and exchange process from paper to digital. The new product, Retain, offers consumers a seamless returns experience while providing brands with flexibility and customization options to reduce costs and increase revenue, the global provider of post-purchase...
Foot Locker shares plunged 34% at the release of second-quarter earnings on Wednesday (Aug. 23) as the company faces a challenging retail environment and struggles to meet sales expectations. The athletic footwear and apparel retailer reported a loss of $5 million, compared to a profit...
