Chewy stock experienced its most significant surge in nearly four years following the pet-products retailer’s sales performance that surpassed expectations. The company’s stock received a boost from the success of its recurring-purchase program. Chewy CEO Sumit Singh said in a Wednesday (May 31) earnings release that net...
Earlier, PYMNTS reported that the summer of markdowns is here as Macy’s (along with Dollar General) struggled with declining consumer demand. The retailer has now revised its annual sales and profit forecasts downward, citing a deceleration in demand caused by inflation as the primary factor....
As many brands race to become as digitally available as possible, Trader Joe’s is going the opposite route, leaning into its lack of eCommerce presence to set the shopping experience apart. On a recent episode of the grocery chain’s podcast, Inside Trader Joe’s, the company spoke...
The Telos Foundation has teamed with GameStop to help mainstream Web3-based gaming. The collaboration lets the Telos blockchain access game distribution through GameStop Playr, the company’s planned Web3 game launcher, the Telos Foundation said in a Thursday (June 1) news release. “This collaboration signifies a meaningful...
eBay has begun authenticating streetwear as part of its push into the luxury market. Beginning Thursday (June 1), the online marketplace will include streetwear along with sneakers, watches, jewelry, handbags and trading cards in its authentication program, according to a Thursday press release. “eBay has...
In the previous quarter, PYMNTS dubbed Nordstrom’s strategy of excessive discounting as the “big blue mistake.” However, on Wednesday (May 31), the retailer has proven itself resilient by posting a surprise quarterly profit and surpassing revenue estimates. The company’s turnout was attributed to improved inventory...
Petco, where the pets go. That’s the motto the specialty retailer aims to bring to its latest retail development: Petco’s flagship store in Union Square in New York City. The store is open and located at the corner of 17th and Park, at 44 Union...
IKEA stores will soon be operating with a new warehouse management system designed to improve the omnichannel experience. Ingka Group, which owns and operates IKEA stores in 31 countries, has acquired Made4net, a provider of supply chain software solutions, Ingka Group said in a Wednesday (May 31) press...
It’s more than shoplifting. It’s organized retail theft. That’s been a common narrative for the past few years. During May, retailers such as Target, Dollar Tree, Home Depot, T.J. Maxx, Kohl’s and Foot Locker collectively identified inventory shrinkage, retail theft or both as contributing factors...
