Today In Retail: CarLotz Looks To Launch Hub Network; Build-A-Bear Anticipates eCommerce Jump

In today’s top retail news, CarLotz, Inc. unveiled plans to launch a nationwide hub network, while Build-A-Bear Workshop, Inc. anticipates a jump in eCommerce demand for fiscal 2020 fourth quarter in comparison to the fiscal 2019 fourth quarter. Plus, retail rents have fallen to historic lows in the Big Apple amid the coronavirus pandemic.

CarLotz Plans Rollout Of US Hub Network

CarLotz, Inc. revealed plans to roll out a nationwide hub network. The firm will expand into the Seattle–Lynnwood, Washington market and will also provide a hub for the Orlando–Merritt Island, Florida area. The news comes following its announcement that it would become a public company through a combination with a special purpose acquisition company (SPAC).

Build-A-Bear Projects 90-100 Pct Jump In eCommerce Demand

Build-A-Bear Workshop, Inc. foresees that eCommerce demand for fiscal 2020 fourth quarter will increase by between 90 percent and 100 percent compared to the fiscal 2019 fourth quarter. In addition, the company expects total revenues in the range of $88 million and $92 million compared to $104.6 million in the fiscal 2019 fourth quarter.

Outstanding Foods Aims To Hog The Market For Plant-Based Pork

Outstanding Foods aims to help people bring home the bacon — or at least the plant-based version of it. The upstart, which just landed $10 million in Series A funding, creates non-meat equivalents of bacon seasoning, pork rinds and other piggy items for the direct-to-consumer (D2C) and retail markets. “The vast majority of our customers are not vegan or vegetarian,” Co-Founder and CEO Bill Glaser recently told PYMNTS.

Retail Rents Plummet In NYC As Vacancies Rise

Retail rents have fallen to historic troughs in New York City during the coronavirus pandemic, as bankruptcies and vacancies penetrated the region. Rent for retail space in the Big Apple took a nosedive, plummeting approximately 25 percent from the same timeframe in 2019, as longtime merchants such as Century 21 and Neiman Marcus closed stores.