Amid the spread of the coronavirus, Ulta Beauty Inc. said it plans to put many of its retail staffers on leave. The company said the temporary furlough is effective on April 19. All furloughed staffers who are in company benefit plans will stay enrolled, according to an announcement. ...
Emerging from lockdown, Chinese consumers may be opening up (digital) wallets and purses … though gradually. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily...
Nordstrom said the crisis arising from the novel coronavirus’ spread has had a “substantial impact” on its business. It detailed that impact in a regulatory filing with the U.S. Securities and Exchange Commission (SEC). Get the Full Story Complete the form to unlock this article...
Amid the coronavirus pandemic, Dick’s Sporting Goods is putting many of its approximately 40,000 staffers on leave, but affected team members will keep receiving benefits. The sporting goods retailer said in a regulatory document that it is “increasingly evident” that its over 800 retail locations won’t open...
Not surprisingly, McDonald’s Corp. posted a dive in sales for the first quarter as its stores closed and the company relied on delivery and takeout orders amid COVID-19 restrictions. As reported by Reuters, the world’s biggest burger chain said comparable store sales fell 3.4 percent...
Revenge spending. It has a nice ring for retailers battered by the COVID-19 pandemic. In fact any kind of spending has a nice ring, but revenge spending was a phenomenon seen as Wuhan and other Chinese regions came out of the coronavirus funk. The following...
Panera Bread has entered the online grocery business. With its large number of storefronts and the advertising clout it could put behind the move, the chain could quickly take some market share from the COVID-19-fueled market. For Panera, it provides a revenue stream at a...
Imagine if your business was planned in this way: minimal revenue for Q1, and maximum revenue for Q2. And for Q2, an unprecedented pandemic has moved people away from each other and toward perhaps the biggest economic rescheduling exercise in modern history. Get the Full...
Following the suspension of store staffers by one of the largest textile merchants, worker furloughs in the retail sector are now well past 1 million. TJX Companies Inc. said it would furlough most of its U.S. staffers at distribution centers and retail locations, Bloomberg reported. Get...
