The parent company of Saks Fifth Avenue said Friday (March 5) it was splitting its eCommerce and 40 traditional retail stores into “separate but related sister companies” in a move it said would “redefine the luxury shopping ecosystem.” Get the Full Story Complete the form...
Gap Inc. reported as part of its fourth-quarter and fiscal year 2020 results that pandemic-required store closures in global markets and softer store traffic in some U.S. regions with stay-at-home limitations impacted sales in the fourth quarter. Get the Full Story Complete the form to...
Costco Wholesale Corporation, which operates just over 800 warehouses, reported its net sales for the second quarter climbed by 14.7 percent. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
While 2020 was a devastating year in most areas, lockdown restrictions and consumers’ changing financial situations actually posed an opportunity for grocery stores to gain back their share of food spending from the restaurant industry. Kroger experienced record-high new customers, Target saw great success from...
The digital shift has been good to Kroger. The supermarket chain reported strong Q4 earnings on Thursday (March 4), driven by the company’s savvy digital presence as well as its expanded pickup and delivery options. Per the earnings release, digital sales grew 118 percent year...
In today’s top retail news, BJ’s Wholesale Club Holdings, Inc. reported a rise in comparable club sales excluding fuel sales, while Purple Innovation Inc reported a jump in net revenue. Plus, Walmart plans to spend $350 billion on American-made products. Get the Full Story Complete the...
Like a fair princess drawn to a dashing prince, the quickening digital shift by consumers has lured Disney away from its brick-and-mortar retail stores and will see it instead pouring more energy and focus into its eCommerce platform. Get the Full Story Complete the form...
Just when you thought it was (almost) time to kick off the sweatpants, log off the Zoom calls and get out of the house again, a $5 billion acquisition of Michaels Stores, the nation’s leading arts and crafts retailer, suggests that at least one corner...
Purple Innovation, Inc., a brand of comfort products such as mattresses and pillows, reported that net revenue surged by 39.9 percent in the fourth quarter of 2020 in contrast to the fourth quarter of 2019, according to a Thursday (March 4) press release. Get the...
