Industries

Retail

Walmart expands fashion focus with new private clothing label for men and women

Walmart expands fashion focus with new private clothing label for men and women

By: Melissa Repko
Source: CNBC
Date of Publication: September 21st, 2020
Walmart is launching Free Assembly, a private label of men’s and women’s clothing, which will sell online and in stores. The big-box retailer’s leaders have looked beyond the grocery aisles and sought to sell more general merchandise to turn e-commerce into a profitable business. With the coronavirus pandemic, Walmart has a new opportunity to grab market share from apparel retailers like J.C. Penney that have filed for bankruptcy protection and others, such as Kohl’s and Macy’s, that have seen sales drop. Yet Walmart still has to prove it can keep up with consumer tastes and provide good value in the fickle fashion world.
Coronavirus and luxury retail: Shopping for used Hermes, Cartier in Covid era

Coronavirus and luxury retail: Shopping for used Hermes, Cartier in Covid era

By: Eric Rosenbaum, Susan Caminiti
Source: CNBC
Date of Publication: September 19th, 2020
The luxury market has taken a big hit during the pandemic, and the mega-deal between Tiffany’s and LVMH is on the verge of falling apart. Used apparel and accessories start-ups The RealReal and ThredUp are rebuilding business models to deal with Covid-19 requirements. Resale experiments at department stores like Macy’s are underway and its CEO says luxury is a bright spot amid a bleak retail landscape, while Walmart also has a new deal with ThredUp. Luxury shopping is a big consumer prize: Amazon just announced its entry, Amazon Luxury Stores.
Shares of furniture retailer Herman Miller soar 33% as home office sales surge

Shares of furniture retailer Herman Miller soar 33% as home office sales surge

By: Maggie Fitzgerald
Source: CNBC
Date of Publication: September 17th, 2020
Shares of Herman Miller are soaring after a blowout earnings report. The office furniture retailer said its home office category increased 300% since last year amid the work-from-home trend. “They reported a completely blowout quarter last night. Why? Because people are rebuilding their homes,” CNBC’s Jim Cramer said on “Squawk on the Street” on Thursday.
Rent the Runway overhauls subscriptions as pandemic reshapes business

Rent the Runway overhauls subscription plan as pandemic reshapes business

By: Lauren Thomas
Source: CNBC
Date of Publication: September 17th, 2020
Rent the Runway is overhauling its membership plans, doing away with an unlimited rental option, as consumers change what they wear and how they shop for clothes during the coronavirus pandemic.
Americans Keep Spending, but Growth of Retail Sales Slows - The New York Times

Americans Keep Spending, but Growth of Retail Sales Slows

By: Michael Corkery and Sapna Maheshwari
Source: The New York Times
Date of Publication: September 16th, 2020
Retail sales climbed 0.6 percent in August, but the increase was smaller than in previous months, prompting concerns of a recovery that is running out of steam.
Jobless claims were lower than expected but employment growth is still sluggish

Jobless claims were lower than expected but employment growth is still sluggish

By: Jeff Cox
Source: CNBC
Date of Publication: September 17th, 2020
First-time claims for unemployment insurance beat Wall Street estimates last week as the U.S. economy enters a critical new stage. Filings totaled 860,000 for the week ended Sept. 12, the Labor Department reported Thursday. Economists surveyed by Dow Jones had expected 875,000, against the previous week’s upwardly revised 893,000.
Why GNC filed for bankruptcy protection despite vitamin sales boom

Why GNC filed for bankruptcy protection despite vitamin sales boom

By: Shawn Baldwin
Source: CNBC
Date of Publication: September 17th, 2020
From New England to Southern California, chances are if you ever needed a potassium boost, there was a GNC at a nearby mall. But the company that urged Americans to “Live Well” has fallen on tough times. In June, GNC filed for protection from creditors in bankruptcy court, with plans to close about 1,000 locations — more than 10% of its global footprint.
Lowe's launches 'Shark Tank'-like effort for small businesses

Lowe’s launches ‘Shark Tank’-like effort to get products from diverse small businesses on shelves

By: Melissa Repko
Source: CNBC
Date of Publication: September 15th, 2020
Lowe’s CEO Marvin Ellison said the company is launching a pitch contest for small businesses.
The evolution of face masks_ from pandemic necessity to human billboar

From pandemic necessity to human billboard—how face masks evolved into a must-have accessory

By: Lilly Smith
Source: Fast Company
Date of Publication: September 15th, 2020
It’s no longer just a medical device. Think of it as a tiny canvas for your face.
Hershey Maps Trick-or-Treating Risks in Hopes Coronavirus Won’t Scare Off Halloween Sales - WSJ

Hershey Maps Trick-or-Treating Risks in Hopes Coronavirus Won’t Scare Off Halloween Sales

By: Annie Gasparro
Source: The Wall Street Journal
Date of Publication: September 14th, 2020
Candy maker is offering social-distancing tips and sending treats out early for its biggest holiday.