In today’s top retail news, Revlon, Inc. reported that its net sales dropped by 10.4 percent in the fourth quarter of 2020, while Kohl’s has unveiled its FLX private-label brand. Plus, the head of AMC Entertainment said he is “optimistic and confident” about his firm’s ability to withstand the pandemic.
Revlon’s Net Sales Drop 10.4 Pct Amid Pandemic
Revlon, Inc. announced as part of its financial results that reported net sales fell 10.4 percent in the fourth quarter of 2020 from the prior-year period. However, its eCommerce net sales rose by approximately 39 percent in contrast to the prior-year period and composed approximately 20 percent of fourth-quarter 2020 net sales in contrast to 13 percent in the prior-year period.
Kohl’s Unveils New FLX Private-Label Brand
Kohl’s has revealed its FLX private-label brand, which is available in more than 300 stores and online. The firm describes FLX as a label for women and men that presents “size-inclusive, stylish active and casual separates made with high-quality performance fabrics and functional details.” FLX comes with core merchandise and a rotation of “seasonally relevant” items.
Movie Theater Chain AMC Shifts From Survival Mode To Managing Surge Of New Films
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The leader of AMC Entertainment said he is optimistic about the quick rebound of the film industry and is confident that his firm will withstand the worst storm in its century-long history. “Thanks to developments on so many fronts during the fourth quarter and especially in January and February, I am now in a position to say that I am optimistic and confident about AMC’s ability to weather this COVID-19 storm,” CEO Adam Aron told investors.
Amazon And Walmart Are Nearly Tied In Full-Year Share Of Retail Sales
Surging online shopping amid the coronavirus saw Amazon’s share of retail sales soar higher last year and come within striking distance of overtaking Walmart, according to new data analysis from PYMNTS. The eCommerce giant’s 9.2 percent of the overall retail spending now nearly matches the chain store leader’s 9.5 percent share of retail activity.
