In its annual holiday forecast, Deloitte anticipates retail sales to increase between 1% and 1.5%, although the consulting firm admits that figuring out what might go on as 2020 ends is particularly uncertain.
First-half retail financials confirm sudden shifts in retailer market share during the pandemic. The results also confirm an unprecedented, yet necessary, pivot by the HomeWorld Business team in the development of its annual ranking of top housewares retailers.
Century 21 Stores has filed for Chapter 11 and plans to commence a wind down of its off-price retail operations and going out of business sales at its 13 stores across New York, New Jersey, Pennsylvania, and Florida after serving customers for nearly 60 years.
In weathering the COVID-19 roiled market, Restoration Hardware easily beat a Wall Street earnings estimate for the second quarter as the company continues on its way to significant margin gains, according to chairman and CEO Gary Friedman.
The Summer Las Vegas Market, in its showroom-only format with virtual events, presented more than 1,300 resources to predominately regional buyers sourcing new products for design projects, replenishing needed merchandise and preparing for fourth quarter needs, according to International Market Centers.
Hudson’s Bay is introducing a new initiative to extend its enhanced health and safety measures in its stores. With customer and associate well-being top of mind, select Hudson’s Bay locations will now feature CleanSlate UV sanitizers, a technology that uses medical-grade UV rays to sanitize objects like cell phones, wallets, keys and bank cards.
COVID-19 has brought the supermarket channel to a crossroads, as a tried-and-true format that has been challenged to fundamentally adapt to a disrupted marketplace that could provide the sector some advantage but could severely penalize those that refuse to adjust to an altered reality.
The home department gave Nordstrom a lift during a challenging second quarter when sales dropped due to the temporary store closures associated with the coronavirus pandemic.
Everyday necessities and electronics have gotten a pandemic boost, and according to Placer.ai, that has led to strong rebounds in store visits to Dollar General, Dollar Tree and Best Buy.