Target Giving $200 Million More In Employee Bonuses
Target Stores is investing $200 million in another round of employee bonuses after strong 2020 sales during the pandemic.
coronavirus
Sycamore Negotiates To Keep Belk Out Of Chapter 11
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.
Coresight: Fewer 2020 U.S. Store Closings Than Expected
Despite a difficult year, Coresight Research noted that far fewer retailers closed their doors in 2020 than many observers anticipated, including Coresight itself.
Bed Bath & Beyond’s 2020 Trials Ready For 2021 Rollout
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.
NRF: Holiday Sales Came In Stronger Than Expected
The National Retail Federation reported retail sales during 2020’s November-December holiday season grew an unexpectedly high 8.3% compared to the same period in 2019 to $789.4 billion.
Nordstrom Holiday Sales Stumble But Digital Shines
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 Whiteside: Redefining The Consumer Relationship
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.
Qurate’s George Cites Retail Achievements In NRF Keynote
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.
Walgreens Q1 Beats Street As It Divests Wholesale Pharmacy
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.
Wayfair Boosts Hourly Worker Pay
Effective January 3, Wayfair established a $15 minimum wage for all employees including full-, part-time and seasonal workers across its operations in the United States, the company has announced.
December Continues Costco Sales Gains
Costco Wholesale Corp. posted a double digit company comparable sales advance in December.
Coresight: E-Commerce Penetration Advanced Four Years In 2020
Coresight Research indicated that e-commerce in the United States didn’t just grow in 2020 it jumped all the way to 2023.
NRF: Stimulus Will Help Tide Over The Economy
Economic challenges arising from the coronavirus pandemic will continue in 2021, but stimulus legislation signed into law just after Christmas…
Euromonitor: Early 2021 Requires Careful Planning
According to market research firm Euromonitor International, home and garden retailers will need to consider a number of factors over winter and into spring to satisfy consumers who are still coping with the pandemic.
An Encouraging End To An Unpredictable Year
Predicting at the beginning of a year how that year will end is never a sure thing for the housewares business.
RH Beats Wall Street In Q3
Despite the coronavirus-impacted marketplace, Restoration Hardware had a strong third quarter.
Walmart Adds Cash Bonus For Associates
Walmart has given more than $700 million in additional cash bonuses to its U.S.-based associates.
Nordstrom Q3 Buoyed By Digital Operations
In an environment still subject to pressures arising from the COVID-19 pandemic, Nordstrom returned third quarter earnings that beat a Wall Street estimate, with digital sales key to driving results.
Walmart Adds New Gift Shopping Features
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.
Homebound Consumers Fuel Best Buy Third Quarter Sales Surge
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.