Kohl’s Corp. confirmed yesterday that it has received letters expressing interest in acquiring the company, following reports over the weekend that two firms are preparing bids to purchase it. Kohl’s, however, hasn't decided what course of action it will take yet. According to a press release, Kohl’s board of directors "will determine the course of…
Melissa Campanelli
The growth of local supermarkets, an increase in the use of e-commerce for food and CPG products, and a focus on value were just three of five trends born during the pandemic that are here to stay, at least according to Steven Williams, CEO of PepsiCo Foods. Williams, who oversees all aspects of PepsiCo’s nearly…
Savage X Fenty, the direct-to-consumer lingerie brand founded by Rihanna, will open its first brick-and-mortar retail location in Las Vegas later this month, according to an Instagram post by the entertainer-entrepreneur published on Friday. Savage X Fenty, a lingerie brand that emphasizes confidence and inclusivity, is a joint venture between Rihanna and TechStyle Fashion Group. The brand also…
American Eagle Outfitters (AEO) late last month announced it has completed the acquisition of Quiet Logistics for approximately $360 million in cash. Quiet Logistics operates a network of in-market fulfillment centers in six cities where workers aided by robots fulfill shipping orders for digital apparel and lifestyle brands such as Mack Weldon, Outdoor Voices and Peloton.…
The National Retail Federation (NRF) on Friday expressed disappointment about the 6th Circuit U.S. Court of Appeals’ decision to lift the stay for the Occupational Safety and Health Administration’s (OSHA) COVID-19 employer-based vaccination and testing mandate. The mandate requires businesses with at least 100 employees to have them vaccinated or face weekly COVID-19 tests and facemask…
J.C. Penney announced on Monday that it's adding Forever 21 to its portfolio of national fashion brands. Shoppers will be able to find Forever 21 products at 100 of the 650 J.C. Penney stores across the nation, as well as on the retailer's website. Apparel items that will be available include tops, bottoms and dresses. The…
The 2021 holiday season appears to be on track to exceed the National Retail Federation’s (NRF) forecast for record spending, despite ongoing supply chain disruptions, inflation and challenges like the new COVID-19 omicron variant, NRF Chief Economist Jack Kleinhenz said on Friday. “Now that we’re in December, the holiday shopping season is nearing the finish…
Cyber Monday is on track to be the biggest online shopping day of the year, according to the latest online shopping data from the Adobe Digital Economy Index, which analyzes direct consumer transactions online. Adobe expects consumers to spend between $10.2 billion and $11.3 billion on Cyber Monday. Last year, consumers spent $10.8 billion on Cyber Monday. Adobe also reported that…
For the first time in history, more than half of U.S. consumers will shop online between Thanksgiving and Cyber Monday, with online retail sales approaching one-third of all Cyber weekend sales, according to a report from Numerator, a data and tech company serving the market research space. Last year, 47 percent of households shopped online…
Retailers opposed to a Biden administration vaccine and testing mandate won a major legal victory on Friday when the 5th Circuit of the U.S. Court of Appeals in New Orleans upheld a temporary stay on the mandate. The mandate was issued by the Occupational Safety and Health Administration (OSHA), and required businesses with at least…
Walmart said yesterday that it has started using fully driverless trucks in its online grocery business in an effort to increase capacity and reduce inefficiencies. Walmart has partnered with Gatik, a middle mile logistics provider that delivers goods safely and efficiently using its fleet of light and medium duty trucks that operate daily without a driver.…
Bed Bath & Beyond has partnered with Uber Technologies to launch a baby and kids vertical on the Uber Eats app, the companies announced Monday. Through the partnership, Uber will deliver baby and home products from 120 BuyBuy Baby and 750 Bed Bath & Beyond stores in the U.S. The selection includes essentials ranging from diapers and…
Walmart’s corporate employees will begin to return to the retailer's Arkansas headquarters and other offices across the country in early November, according to a companywide memo obtained by CNBC. In a memo sent to employees Oct. 22, the big-box retailer said employees will “transition to working together in our campus offices on a more regular basis”…
Retail sales increased in September as worries about the COVID-19 delta variant pushed consumer spending toward merchandise rather than services like dining, entertainment or travel — despite supply chain disruptions and inflation, the National Retail Federation (NRF)said last week. NRF’s calculation of retail sales — which is based on U.S. Census Bureau monthly retail data but excludes automobile dealers, gasoline stations and restaurants…
Costco is renting its own container ships to prevent delays and keep costs down as the global shipping crisis continues, according to Business Insider. In a call with analysts Thursday, Costco CFO Richard Galanti said the retailer has chartered three ships to import products from Asia to the U.S. and Canada to help Costco avoid spending six times the normal price…
