In today’s top retail news, Chewy surpassed 20 million active customers in the third quarter as it continues to build out a pet health platform, while Nike has filed a complaint with the U.S. International Trade Commission asking it to block imports of certain Adidas shoes. Also, retail CEOs are asking Congress for help in abating the recent slew of thefts, and Shipt is set to begin offering same-day grocery delivery.
Chewy Active Members Hit 20M in Q3, Strengthens Pet Platform Focus
Online pet supply retailer Chewy, like many companies, is struggling to get product where it needs it in a timely manner as supply chain bottlenecks continue across the world and labor remains difficult to find, elevating costs at a time when the company is trying to focus on its long-term strategy. In the third quarter, Chewy recorded net sales of $2.2 billion, up 24% year over year and 86% on a two-year stack. The company had over 20 million active customers in the quarter, up nearly 15% compared to the same period last year.
Nike Says Adidas Shoe Imports Infringe on Patents
Nike has filed a complaint with the U.S. International Trade Commission asking it to block imports of 49 Adidas shoe designs that use Primeknit technology, saying they infringe upon six Nike patents related to its Flyknit design technology. Last year, Adidas was unsuccessful in its attempt to invalidate two of the Nike patents in a case heard by the U.S. Court of Appeals for the Federal Circuit.
As ‘Smash and Grab’ Spate Continues, Retail CEOs Turn to Congress for Help
Shoplifting, or shrink as it is referred to in the industry, has always been a problem for retailers, but the ongoing spate of organized, high-profile and often televised thefts is on a different level — to the point where 21 CEOs from some of the nation’s biggest retailers have asked for help from the federal government. The plea for federal help comes at a time when several CEOs, including Best Buy’s Corie Barry, have been blunt about the impact this situation has had on their customers and the morale of their already constrained workforces, as well as their bottom lines.
Shipt Teams with Wynshop to Drive Same-Day Local Grocery Delivery
Shopping and delivery company Shipt is teaming up with digital commerce solution provider Wynshop (formerly ThryveAI) to launch a fully integrated solution for local grocers to offer same-day delivery. The collaboration will have Shipt deliver orders made through grocers’ digital storefronts on Wynshop’s platform.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More