Target Stores is investing $200 million in another round of employee bonuses after strong 2020 sales during the pandemic.
KKR & Co., Blackstone Group Inc. and other big lenders to department store chain are in talks with the retailer and Sycamore to avoid bankruptcy after the Chapter 11 process proved hard to manage for other retailers during the pandemic, the Journal stated, attributing the information to people in the know.
Despite a difficult year, Coresight Research noted that far fewer retailers closed their doors in 2020 than many observers anticipated, including Coresight itself.
The COVID-19 pandemic has driven Bed Bath & Beyond to adopt and advance initiatives quicker than it ever intended. However, that has helped the retailer boost its proficiency in developing and applying data and exercising its operational flexibility in application in ways that the company expects has better prepared it to thrive in the year ahead.
With the COVID-19 pandemic continuing to trouble consumers, Nordstrom has announced that sales slid 22% for the nine-week 2020 holiday period ended January 2 versus the comparable period a year earlier.
Walmart’s Janey Whiteside, the retailer’s evp and first chief customer officer, said the year ahead continues its trend to make shopper lives easier, which means delivering core purchases to consumers as they need them and, so, gradually changing how they relate to retailers.
In the opening keynote address kicking off the virtual Chapter 1 of the National Retail Federation Big Show, Mike George, president and CEO of Qurate Retail Group and NRF chairman, spotlighted how the retail sector reacted to the COVID-19 pandemic and social turbulence over the past year, emphasizing how the industry worked to improve conditions in communities around the United States.
In the first quarter, Walgreens Boots Alliance earnings slipped as the company divested its pharmaceutical wholesale business and boosted its investment in VillageMD while accelerating the rollout of full-service primary care clinics in stores.
Coresight Research indicated that e-commerce in the United States didn’t just grow in 2020 it jumped all the way to 2023.
This holiday season, Walmart has added new features to make online shopping easier for gift givers, the company announced, including new categories in the Gift Finder tool, new ways to inform customers which items can be sent as a gift and a new eGift Card feature in the Walmart app.
Best Buy reported a banner third quarter, with net sales and comps surging as consumers continued to purchase a diverse range of home products for their homebound lifestyles.