Today in retail, Callaway adds tech and entertainment capabilities to its golf equipment and apparel expertise while Under Armour shoppers return to stores. Plus, anticipation builds for Walmart’s upcoming Q4 earnings report and Central Retail announces a $3 billion spending plan that includes adding new stores and increasing the use of technology.
Under Armour’s D2C Business Sees Shift From Web to Stores
Athletic footwear and apparel maker Under Armour said Friday (Feb 11) that its direct-to-consumer (D2C) revenues rose 10% in the fourth quarter of 2021, with consumers returning to in-store shopping after largely being unable to do so in 2020.
That led to a downturn in the growth of the company’s eCommerce business, which dipped to 4% for the three months ending Dec. 31, accounting for 42% of total D2C business.
Selfridges’ New Thai Owner Central Retail Announces Additional $3B Retail Spending Plan
Thailand department store operator Central Retail, the retail subsidiary of Central Group, announced earlier this week that it will spend $3 billion on store network expansion and refurbishment as well as implementing new technology in its three geographic markets.
The technology upgrades will include implementing livestreaming, cryptocurrency payments, the sale of non-fungible tokens (NFTs), gamification, the Internet of Things (IoT) and the metaverse.
Callaway Is Now ‘Tech-Enabled Golf, Lifestyle Apparel and Entertainment Company’
Callaway Golf Company President and CEO Chip Brewer on Thursday (Feb. 10) called 2021 a “pivotal year” for his company, marked not only by the acquisition of Topgolf in the first quarter of the year, but also a complete transformation of how it does business and where it focuses.
Callaway’s fourth quarter results were “better than expected,” said Brewer during the company’s quarterly and annual earnings call with investors, with Topgolf and “continued high demand” for golf equipment and lifestyle apparel and gear largely responsible for the 90% year-over-year jump in net revenue to $712 million.
AMZN vs WMT Weekly: Waiting on Earnings, Betting on Health
Walmart’s Q4 earnings report comes out next week, and the company will likely be announcing fresh strategic plans to keep its customers coming back to its stores and website, rather than spending their money at rival Amazon or elsewhere. Healthcare will likely be part of the mix, as Walmart eyes Amazon’s recent moves in that realm.
Amazon, like many others, is betting telemedicine is not only here to stay, but represents a business opportunity. To that end, the online retail giant is expanding Amazon Care telehealth service nationwide with virtual-care visits, free telehealth consultations and in-home visits for a fee from nurses for testing and vaccinations. Amazon is also adding in-person services in more than 20 cities this year.
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