Today In Retail: Beachbody Intends To Go Public Via Merger; Tractor Supply Will Pay Workers To Get Vaccinated

In today’s top retail news, the Beachbody Company Group, LLC plans to go public by merging with a special purpose acquisition company (SPAC) and Myx Fitness Holdings, LLC, while Tractor Supply Company will pay workers to get vaccinated against COVID-19. Plus, Norwest Venture Partners has led a $43 million funding round for Fabric.

Beachbody Plans To Go Public By Merging With SPAC And Myx Fitness

The Beachbody Company Group, LLC announced that it intends to go public by combining with blank-check company Forest Road Acquisition Corp. and connected fitness firm Myx Fitness Holdings, LLC. Santa Monica-based Beachbody Company will become of the parent of Beachbody On Demand (BOD), Openfit and Myx upon the closing of the business combination.

Tractor Supply Company Will Pay Workers To Get COVID-19 Vaccine

Tractor Supply Company will provide a one-time $50 payment and give permission for time off as needed for each hourly team member who opts to receive a COVID-19 vaccine. The retailer says it has taken many measures since the pandemic’s onset to “ensure the safety of its Team Members, customer and communities” as an essential retailer.

Fabric Gets New Funding, Aims To Free Retailers From Legacy eCommerce Platforms

Norwest Venture Partners has headed up a $43 million funding round for Fabric, a Washington state-based upstart that allows for scalable, tailored online commerce that is easy and economical to deploy. “With Fabric’s headless commerce platform, retailers can effortlessly extend the immersive in-store shopping experience to the digital world,” Norwest Venture Partners Partner Scott Beechuk said in a statement.

ALDI Unveils Store Expansion And eCommerce Plans, Aims For Top 3 Grocery Spot

ALDI said on Wednesday (Feb. 10) that it will add 100 new retail locations in 2021 and will also double its online shopping offerings designed a bolstering shopper convenience. “We’re incredibly proud to continue growing in all aspects of our business, from opening new stores to enhancing our eCommerce offerings, especially in light of the challenges businesses have faced in the last year,” ALDI U.S. CEO Jason Hart said in a press release.