Macy's Inc
Walmart beefs up its third-party marketplace as it challenges bigger online rival Amazon
Walmart hosted its first seller summit for its third-party marketplace this summer. At the invitation-only event, CEO Doug McMillon made his pitch on why small businesses and brands should work with the retail giant. Walmart It was summer in Las Vegas — the temperature hit nearly 110 degrees that late August day — but Christmas […]
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Levi Strauss cuts full-year sales forecast again, as inflation takes a toll
Levi’s 501 blue jeans on display. Sean Gallup | Getty Images Levi Strauss on Thursday cut its full-year sales forecast, as it missed Wall Street’s quarterly revenue expectations and was dragged down by weaker shopping trends at department stores and big-box retailers across the U.S. Shares fell more than 3% in extended trading. The company’s […]
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Macy’s will open up to 30 stores, as department store looks to strip malls as key part of its future
Macy’s is opening more small-format stores across the country. They are roughly one fifth the size of its typical locations. Macy’s Macy’s on Tuesday said it will open up to 30 smaller stores in strip malls over the next two years, as the retailer chases customers out of dying malls and into bustling suburbs. The […]
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Toys R Us is planning a brick-and-mortar comeback in the U.S., with up to 24 new flagship stores
Toys R Us is plotting a bold comeback in the U.S., as it plans to expand its brick-and-mortar presence with as many as 24 new flagship stores and a separate rollout at airports and on cruise ships starting this holiday season. The toy retailer’s parent company, WHP Global, announced what it called the “Air, Land […]
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Nike misses on revenue for first time in two years, but stock pops as earnings, margins beat
Nike reported revenue Thursday that fell short of Wall Street’s sales expectations for the first time in two years, but it beat on earnings and gross margin estimates, sending its stock soaring in after-hours trading. Here’s how the sneaker giant performed during its fiscal first quarter compared with what Wall Street was anticipating, based on […]
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Macy’s-owned Bloomingdale’s taps international exec Olivier Bron as its next CEO
Shoppers walk past a Bloomingdale’s store in the SoHo neighborhood of New York, US, on Wednesday, Dec. 28, 2022. Victor J. Blue | Bloomberg | Getty Images Macy’s said Tuesday that it has tapped international retail executive Olivier Bron as the next CEO of its upscale department store, Bloomingdale’s. Bron will succeed Tony Spring. A […]
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How much are retailers losing to shrink and theft? In many cases, it’s not the main drag on profits
Anti-theft locked beauty products with customer service button at Walgreens pharmacy, Queens, New York. Lindsey Nicholson | Universal Images Group | Getty Images A range of retailers are again blaming shrink as one of the reasons they saw another quarter of lackluster profits. But some of those companies have started to offer more detail than […]
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Walmart cuts starting pay for new hires who prepare online orders, stock shelves
A worker stocks the shelves at a Walmart store on January 24, 2023 in Miami, Florida. Walmart announced that it is raising its minimum wage for store employees in early March, store employees will make between $14 and $19 an hour. Joe Raedle | Getty Images News | Getty Images Walmart has cut starting pay […]
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Walmart ramps up efforts to grow third-party marketplace with Las Vegas event, new perks
Walmart is hosting its first seller summit businesses that are part of its third-party marketplace. The two-day event includes how-to sessions and remarks by the retailer’s top leaders. Melissa Repko | CNBC LAS VEGAS — Walmart is looking for new ways to woo sellers to its third-party marketplace, as it pushes to drive more online […]
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Dollar Trees shares sink, as CEO says ‘challenging’ economy is pressuring discounter
Shares of Dollar Tree fell on Thursday and hit a 52-week low, after the retailer said customers’ shopping lists have largely narrowed to food and necessities. The discounter joins a growing group of retailers catering to consumers who have become more price-sensitive and selective about spending. Macy’s and Foot Locker also reported this week that […]
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