Management

In many ways, the current pandemic crisis has created an environment of unprecedented stress in the retail landscape. Retailers have experienced previously unseen market forces resulting in months of closures and shifts in consumer behaviors. However, while this epidemic has exposed vulnerability in the retail industry, it has also uncovered opportunities. Significant Opportunities, Larger Trends…

Under Armour has joined a growing list of major consumer brands that are making big changes to their wholesale strategies. The athletic brand, which saw some progress in its turnaround during the third quarter, said it will begin to exit 2,000 to 3,000 stores in North America, its largest market. By the end of 2022, it expects…

Santa Claus won't be visiting any Macy's stores in 2020, ending a 159-year holiday season tradition. The department store's tradition started in 1861, but Santa meet-and-greets won't be happening this year because of concerns about the coronavirus pandemic. Instead, Macy's is creating an interactive virtual experience. "To replicate the magical experience of visiting Macy's Santaland for…

Gap Inc., which was for decades a fixture at shopping malls around the country, said Thursday that it will be closing 220 of its namesake Gap stores — or one-third of its store base — by early 2024. That will result in 80 percent of its remaining Gap stores being in off-mall locations. As part…

Target said earlier this week that it will spend more than $70 million on another round of employee bonuses during the coronavirus pandemic, as the holiday shopping season picks up. The retailer will pay $200 to its more than 350,000 employees who work at stores, distribution centers and contact centers. It will pay the bonuses by early…

Amazon.com workers are signing an internal petition asking the company to give them paid time off to vote in the United States election, CNBC reported. The petition requests Amazon provide its entire U.S. workforce with paid time off to vote on or before election day. According to CNBC, more than 4,000 Amazon employees have signed…

As we enter an unprecedented holiday shopping season, consumers are curious about how retailers plan to prioritize safety. The truth is, e-commerce is booming, and an attractive option for many shoppers. However, there are other ways that retailers can give their customers peace of mind. Display Your Cleaning Process According to a recent study, consumers…

Many retail categories saw an uptick in online sales over the past couple of months. By mid-April, U.S. retailers’ year-over-year revenue growth was at 68 percent. Buy online, pick up in-store (BOPIS) orders also experienced quite the surge. In fact, Walmart Grocery quickly became the No. 1 most downloaded shopping app in early April. However,…

Lowe's announced yesterday that it will give $100 million more in bonuses to hourly employees, as strong demand for home improvement continues. It marks the sixth time the home improvement retailer has given additional pay to workers at its stores, distribution centers and support centers during the coronavirus pandemic. It gave bonuses to part-time, full-time and seasonal…

Consumer spending has recovered from the coronavirus pandemic more quickly than expected, but forecasting 2020 holiday sales is like assembling a jigsaw puzzle without all the pieces, National Retail Federation (NRF) Chief Economist Jack Kleinhenz said in a press release from the trade association. “I'm cautiously optimistic about the fourth quarter in terms of the…