Shares of Adidas jumped 8.2 percent on Wednesday after the company unexpectedly raised its full-year guidance and reported a year-on-year profit increase in the first quarter, reports CNBC. The German sportswear company said that it now expects currency-neutral revenues to increase at a mid-to high-single-digit rate in full-year 2024, compared with a previous projection of…
Kristina Stidham
Home Depot has confirmed that it suffered a data breach after one of its Software-as-a-Service (SaaS) vendors mistakenly exposed a small sample of limited employee data, which could potentially be used in targeted phishing attacks, reports Bleeping Computer. Last Thursday, a threat actor known as IntelBroker leaked limited data for approximately 10,000 Home Depot employees…
Every year, the U.S. goes through enough cardboard boxes for shipping to pave a one-mile-wide road from New York City to Los Angeles three times, or build a mile-high cardboard wall around the entire continental U.S. Getting rid of overreliance on Amazon.com's signature brown box is a key goal of the retail giant and its…
Canada Goose said Tuesday that it will cut about 17 percent of its corporate workforce, reports CNBC. This announcement follows a string of other retailers that have laid off employees this year as consumers continue to pull back on discretionary spending. The cuts will affect staff at Canada Goose’s corporate headquarters in Toronto, which had…
Target will double its bonus payments to salaried employees this year, as the big-box retailer’s profits recover from a bumpy nearly two-year stretch, reports CNBC. In a statement, Target said the annual bonus payout is based on how the retailer performs against sales and profit goals set at the beginning of the fiscal year. Salaried…
Kohl’s said Tuesday that it’s teaming up with the owner of Babies R Us to bring baby gear, furniture and more to approximately 200 of its stores across the country, reports CNBC. The department store chain struck a licensing deal with WHP Global, a brand management firm with a portfolio that includes Bonobos, Joe’s Jeans,…
Target on Tuesday said it will launch a paid membership program next month, riffing off the playbook of its rivals Amazon.com and Walmart, reports CNBC. The subscription-based program, Target Circle 360, will launch in early April and cost $99 per year. Target will offer a discounted rate of $49 per year as part of a…
Walmart has agreed to buy TV maker Vizio, the companies announced Tuesday, as the largest U.S. retailer grows its high-profit ad business, reports CNBC. Walmart will acquire Vizio for $2.3 billion, or $11.50 per share, in cash. The big-box retailer announced the acquisition as it reported its fourth-quarter earnings. Walmart and its Sam’s Club warehouse…
On Tuesday, Tiger Woods announced a partnership with TaylorMade Golf to create a new lifestyle brand, Sun Day Red. According to the brand's website, the line "promises to bring a new and elevated standard to performance wear and luxury lifestyle fashion." Sun Day Red will be a completely stand-alone brand with a dedicated team of…
Estée Lauder is cutting 3 percent to 5 percent of its global workforce as part of a restructuring program that aims to increase profits and become more nimble in a challenging international environment, reports ABC News. The layoffs were announced Monday as the New York cosmetic giant reported falling profits and revenue in the second…
While at NRF 2024: Retail's Big Show in New York City last month, Editor-in-Chief Joe Keenan spoke with Evan Hovorka, vice president of product and innovation at Albertsons Media Collective, the next-generation retail media arm for Albertsons Companies, Inc. Hovorka provides an overview of the retail media network and his role, the business' approach to…
Valentine’s Day spending on significant others is expected to reach a record $14.2 billion this year, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. Overall, consumers plan to spend $25.8 billion to celebrate Valentine’s Day, on par with last year’s spending and the third highest in the…
The on demand February 2024 Women in Retail and Total Retail Virtual Exchange will offer attendees the opportunity to hear from leading retail executives on a variety of mission-critical industry topics that are particularly valuable during the current retail climate. Speakers include leaders from Patagonia, Saks, Ralph Lauren, Curacao, Adore Me, London Times, Columbus Consulting and more.
VF Corp., the parent company of popular apparel brands Vans, Supreme, and The North Face, said last week that hackers stole the personal data of 35.5 million customers in a December cyberattack, reports TechCrunch. The filing to regulators didn't say specifically what kinds of personal data was taken, or if the company yet knows what…
In a keynote presentation at the ICR Conference in Orlando, FL earlier this month, Jim Conroy, chief executive officer of Boot Barn, detailed four growth strategies the retailer is focused on in 2024. Boot Barn, the nation's leading lifestyle retailer of western and work-related footwear, apparel and accessories, is one of the fastest-growing companies in the…