Industries

Retail

Americans splurged over Labor Day weekend. That's the good news

Americans splurged over Labor Day weekend. That's the good news

By: Howard Schneider
Source: Reuters
Date of Publication: September 10th, 2020
People flocked to stores - and back to restaurants - over Labor Day weekend in the United States, setting post-pandemic highs for retail foot traffic and seated dining but also posing a puzzle.
Peloton revenue beats as pandemic boosts demand for fitness equipment

Peloton revenue beats as pandemic boosts demand for fitness equipment

Source: Reuters
Date of Publication: September 10th, 2020
Peloton Interactive Inc PTON.O beat analysts' estimates for quarterly revenue on Thursday as the exercise bike maker benefited from a surge in subscribers and demand for its fitness products during the coronavirus pandemic.
Simon, Brookfield to save JC Penney from bankruptcy, keep 650 shops

Mall owners Simon, Brookfield set to rescue JC Penney from bankruptcy in $800 million deal

By: Lauren Thomas
Source: CNBC
Date of Publication: September 9th, 2020
U.S. mall owners Simon and Brookfield are close to finalizing an $800 million deal to rescue J.C. Penney from bankruptcy.
Shopify, Suddenly Worth $117 Billion, Is One of the Biggest Pandemic Winners - WSJ

Shopify, Suddenly Worth $117 Billion, Is One of the Biggest Pandemic Winners

By: Inti Pacheco
Source: The Wall Street Journal
Date of Publication: September 8th, 2020
E-commerce platform has tapped into small businesses needing websites, doubling its revenue.
No pandemic pause in IKEA's U.S. shopping mall plans

No pandemic pause in IKEA's U.S. shopping mall plans

By: Anna Ringstrom
Source: Reuters
Date of Publication: September 7th, 2020
IKEA’s shopping centers business hopes to open the doors of its first mall in the United States, in the center of San Francisco, within a year, pushing ahead with its expansion plans while many retailers are reeling from the coronavirus crisis.
Ulta Beauty Returns to TV Advertising After a Pandemic Pause - WSJ

Ulta Beauty Returns to TV Advertising After a Pandemic Pause

By: Alexandra Bruell
Source: The Wall Street Journal
Date of Publication: September 4th, 2020
The beauty giant pulled its ads off the air in March, when Covid-19 forced many retailers to shut their doors.
Macy's posts smaller-than-expected loss, shares rise

Macy's posts smaller-than-expected loss, shares rise

Source: Reuters
Date of Publication: September 2nd, 2020
Macy’s Inc (M.N) reported a smaller-than-expected quarterly loss and beat sales estimates on Wednesday, as shoppers stuck indoors due to the COVID-19 pandemic bought more apparel using the department store chain’s app and website.
Lego sales surge as housebound families turn to play

Lego sales surge as housebound families turn to play

By: Jacob Gronholt-Pedersen
Source: Reuters
Date of Publication: September 2nd, 2020
Sales of Lego jumped 14% in the first six months of the year as families under coronavirus lockdowns spent more time playing together at home, the Danish toy maker said on Wednesday.
Samsung eyes new opportunities as pandemic ignites demand for home appliances

Samsung eyes new opportunities as pandemic ignites demand for home appliances

By: Joyce Lee
Source: Reuters
Date of Publication: September 1st, 2020
From sanitizing closets to customizable fridges, the coronavirus pandemic has fanned demand for home appliances - so much so that Samsung Electronics Co Ltd (005930.KS) is adding warehouses and bringing popular products to more markets.
Coronavirus: U.S. department stores could be in their 'last stages'

America’s department stores, cornerstones in fashion, could be in their ‘last stages’

By: Lauren Thomas
Source: CNBC
Date of Publication: September 1st, 2020
The coronavirus pandemic is shining a light on U.S. department stores’ dependence on selling fashion and their delay in adapting to today’s retail environment.