Retail industry
Buy now, pay later is not a boom, it’s a bubble, Harvard researcher says
Most people love the convenience of buy now, pay later. Since the start of the coronavirus pandemic, installment payments have exploded in popularity along with a general surge in online shopping. Initially, spreading out the cost of a big-ticket purchase — like a Peloton, for example — just made financial sense, especially at 0%. Now, 4 in […]
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Coach owner Tapestry cuts profit outlook as China lockdowns dent demand
Customers walk past a Coach store at Shanghai New World Daimaru department store on August 12, 2019 in Shanghai, China. VCG | Visual China Group | Getty Images Coach owner Tapestry on Thursday trimmed its profit outlook for the fiscal year 2022 with lockdowns in China poised to dent consumer demand of its high-end purses […]
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Baby formula maker: It could take up to 10 weeks to get product back in stores from affected facility
Empty shelves show a shortage of baby formula at a Target store in San Antonio, Texas, May 10, 2022. Kaylee Greenlee Beal | Reuters The owner of a key baby formula manufacturing plant said Wednesday it is looking to restart its plant in as little as two weeks — but said it would take between […]
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Online grocery delivery platform Instacart confidentially files for IPO in the U.S.
A shopper prepares fill his cart at a Giant supermarket in Washington, DC, April 6, 2020. Evelyn Hockstein/The Washington Post via Getty Images) Grocery delivery platform Instacart said late Wednesday it has filed a draft registration statement with the U.S. Securities and Exchange Commission (SEC), paving the way for the firm to list its shares. […]
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Beyond Meat shares tumble after jerky launch leads to wider-than-expected loss
Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products sit on a shelf for sale in New York City. Angela Weiss | AFP | Getty Images Beyond Meat on Wednesday reported a wider-than-expected loss for its first quarter as the launch of its new plant-based jerky weighed heavily on margins. Shares of […]
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Peloton took $182 million impairment charge last quarter as inventories piled up
A Peloton stationary bike for sale at the company’s showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021. Adam Glanzman | Bloomberg | Getty Images Peloton’s goodwill took a $182 million hit in its previous fiscal quarter as inventory levels ballooned and consumer demand for its bikes and treadmills waned. During the three-month period […]
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Kohl’s shareholders vote to keep current slate of directors despite activist pressure
The Kohl’s logo is displayed on the exterior of a Kohl’s store on January 24, 2022 in San Rafael, California. Justin Sullivan | Getty Images Kohl’s shareholders voted to reelect the company’s current slate of 13 board directors, as the retailer faced mounting pressure from activists for an overhaul, Kohl’s announced Wednesday. The annual meeting […]
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Target employees at Virginia store file for union election amid a broader labor push at big companies
A worker delivers an order to a drive up customer at a Target store on August 19, 2020 in Miami, Florida. Joe Raedle | Getty Images Target has joined the growing list of major companies where employees are trying to form a union. Employees at a Virginia store filed on Tuesday with the National Labor […]
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Peloton CEO says he was surprised by how deep some issues ran at the company
Barry McCarthy, chief financial officer at Spotify, attend annual Allen & Company Sun Valley Conference, July 11, 2018 in Sun Valley, Idaho. Drew Angerer | Getty Images When Barry McCarthy showed up to run Peloton about three months ago, he was surprised to learn just how discombobulated the supply chain was and how quickly the […]
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How the digital sneaker boom changed Foot Locker’s business
Foot Locker dominates the brick-and-mortar footwear category as the largest footwear retailer in the world. Its 2,900 stores worldwide span several brands, including Lady Foot Locker, Kids Foot Locker and Champs Sports. Since 2015, however, digital sneaker retailers have grown rapidly with the establishment of online marketplaces like StockX and GOAT. New brick-and-mortar streetwear stores […]
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