Today In Retail: G-III Apparel Group Reports 26.7 Pct Net Sales Decline; Rakuten In Store Network Turns On Google Pay Offers

In today’s top retail news, G-III Apparel Group reported that net sales dropped 26.7 percent as its Wilsons Leather and G.H. Bass brands suffered, while the Rakuten In-Store Network has turned on offers in Google Pay. Plus, Ikea is saying goodbye to its printed catalog.

G-III Apparel Group Reports 26.7 Pct Drop In Net Sales

G-III Apparel Group, whose owned brands encompass G.H. Bass and DKNY, among others, reported that net sales plummeted 26.7 percent as its G.H. Bass and Wilsons Leather brands suffered. The firm also cautioned that it foresees that Q4 sales will come in at about 30 percent under year-ago levels. Net sales for the Wilsons Leather and G.H. Bass portion of the firm’s retail operations segment were $38.2 million in Q3 in Q3, which ended on Oct. 31, in comparison to $59.8 million in the same timeframe last year.

Rakuten In-Store Network Implements Offers In Google Pay

The Rakuten In-Store Network has enabled offers in Google Pay, letting users of the payment method get cash back on marketing offers linked to their cards for online shopping and brick-and-mortar purchases. Josh Woodward, Google Pay director, said in a release that the Google Pay platform affords merchants with chances to offer more in-depth shopper engagement “in creative ways with offers, rewards, and customized, dynamic content.”

Ikea And What Comes Next For Printed Catalogs

It’s been a 70-year-long run, but Ikea is formally bidding its printed catalog goodbye. The decision was recently unveiled as the Ikea brand keeps shifting itself to digital per published reports. Catalog readership has thus fallen sharply over the last several years. At its height four years ago, Ikea distributed 200 million catalogs throughout the globe in 32 languages.

Love And Loyalty: David’s Bridal Launches First Rewards Program

David’s Bridal has rolled out the first rewards program in its seven-decade-long history named Diamond Loyalty Program by David’s. The bride enrolls in the program and immediately unlocks promotions from David’s in addition to its destination partners. She receives one diamond point for each dollar spent, which includes bridesmaids’ dresses and accessories.