Ashley Chiaradio
June 30, 2021 at 4:23 pm
DSW is piloting self-checking stands in its stores in response to hiring challenges it's having, CNN reported. The retailer hopes automation is the solution to its lack of human workers. Karen Cho, senior vice president of human resources at Designer Brands (DBI), owner of DSW, told CNN that the self-checkout test started last year to…
June 23, 2021 at 5:50 pm
The second day of Amazon Prime Day saw a total U.S. online spend over $5.4 billion, according to Adobe Digital Economy Index data. This represents a 3.6 percent growth compared to e-commerce revenue on the second Amazon Prime Day last year. Across both days, the U.S. online spend across retailers exceeded $11B, representing 6.1 percent…
June 16, 2021 at 5:06 pm
The Home Depot made the decision to contract its own container ship, CNBC reported. The home improvement retailer made this decision amid global shipping issues, such as congested ports, container shortages and slowed shipments as a result of COVID-19 outbreaks. Jonathan Gold, vice president of supply chain and customs policy for the National Retail Federation,…
June 9, 2021 at 5:28 pm
Best Buy is the latest retailer to announce it will keep its stores closed on Thanksgiving Day this year, CNBC reported. The company will instead offer its Black Friday deals online for the second year in a row. Best Buy joins a growing list of retailers that have started to share holiday season plans. Both Target…
June 2, 2021 at 5:54 pm
E-commerce marketplace Etsy is buying resell fashion app Depop for $1.62 billion, CNBC reported. Depop was founded in the U.K. in 2011, and is popular predominantly with Gen Z shoppers. The app allows consumers to buy and sell used clothes through its online marketplace, and promotes ethical shopping. Etsy expects to finalize the deal by…
May 26, 2021 at 7:21 pm
Amazon.com will purchase MGM Studios for $8.45 billion, CNBC reported. This deal is the second-largest acquisition in Amazon's history, behind its purchase of Whole Foods in 2017 for $13.7 billion. MGM has been looking for a buyer for several years after emerging from bankruptcy in 2010. Mike Hopkins, senior vice president of Prime Video and Amazon…
May 19, 2021 at 2:55 pm
Macy's has begun investing in new product categories to grow its business, CNBC reported. The department store chain is hoping these new categories, including toys, health and wellness, hair care and home decor, will attract new customers while at the same time keeping its existing customers happy. Jeff Gennette, CEO at Macy's, shared during an…
May 12, 2021 at 3:46 pm
The owner of Barnes & Noble, Elliot Investment Management, announced it will acquire stationery retailer Paper Source, CNBC reported. The acquisition will give Paper Source the finances it needs to come out of its Chapter 11 bankruptcy. According to CNBC, Barnes & Noble CEO James Daunt will oversee both companies. The two businesses may partner…
May 5, 2021 at 2:11 pm
Nogin, an outsourced e-commerce company that focuses on fashion and consumer products, announced in a press release that it has acquired ModCloth. The company purchased the digital-native retailer from Go Global for an undisclosed amount after Go Global previously acquired ModCloth from Walmart in January 2020. According to the press release, Nogin plans to refresh…
April 28, 2021 at 1:08 pm
Many millennials are leaving crowded cities for more suburban and rural lifestyles, and the trend is great for Tractor Supply's business, CNBC reported. Tractor Supply CEO Hal Lawton told CNBC on Monday that the farming supplies retailer has been gaining market share with its core customer, but also with new millennial customers as they settle…
