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...
To make it as easy for shippers to mail a package as sending a text message, Shippo has notched $30 million in Series C funding. The raise, which was led by D1 Capital Partners, brings the shipping platform’s total funding to $59 million. Union Square...
When the chapter is finally written on business during the COVID-19 crisis, there will be stories of the companies that simply fell victim to the virus through no fault of their own. Then there will be the companies that saw chaos and brought order, and...
It’s easy to play Monday morning quarterback for the growth of online grocery. When consumers need essential items but get scared by a high-touch environment, it’s only natural for online numbers to spike. The tough call will be whether online grocery is something that “sticks”...
As March sales and earnings reports start to show up this week, new data indicate that eCommerce sales for essential and nonessential retail will show a dramatic spike. The increase is logical, given the shelter-in-place orders aligned with COVID-19. But recent concerns about supply chains...
