The retail reopenings underway hit a few roadblocks on Wednesday (May 6), as Nordstrom’s, L Brands and Lord & Taylor all checked in with bad news. All three companies had reported liquidity problems since the pandemic crisis started, but the convergence of the three events...
It used to be that controllable and somewhat predictable factors like price, selection and location defined retail success. More recently it was data-driven decisioning and location-based services that could bring a competitive advantage. In the post-pandemic world, the rules have changed. The factors that will...
As consumers stocked up on merchandise amid the coronavirus pandemic, CVS Health Corporation reported that front store revenues rose 8.5 percent in the three months concluding March 31 compared to the year before. The health retailer reported that the growth was mainly because of the...
As the coronavirus pandemic speeds up consumers’ transitions to online shopping, Shopify reported that new stores created on the platform jumped 62 percent from March 13 to April 24 compared to the six weeks before. According to the company, the growth was powered by “the...
The Impossible Burger has had an expansive year — making inroads at restaurants like Burger King with the Impossible Whopper and its debut on grocery shelves last fall. But this week, those expansion efforts took a great leap forward with the announcement that Impossible Burger is now going to...
The coronavirus pandemic has caused a rift in the relationship between apparel manufacturers and retailers, resulting in lost profits and canceled payments as the economy slogs through the mud, according to The Wall Street Journal. Get the Full Story Complete the form to unlock this...
Despite an infusion of $2 billion from investors last month, Airbnb said the pandemic has forced the layoff of 1,900 employees, or 25 percent of its workforce, CNBC reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
Gold’s Gym International Inc. filed for Chapter 11 bankruptcy protection on Tuesday (May 5), citing financial disruptions created by the COVID-19 pandemic, per a company statement. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
Online retail giant Wayfair saw its sales surge in the first quarter of 2020, even while its net loss grew. The increase in sales figures and online shoppers is in line with the overall eCommerce industry’s growth. Get the Full Story Complete the form to...
