EBay Will Lay Off 9% of Workforce
The online marketplace is looking to simplify operations and shift resources to its fastest-growing areas, Reuters reported.
Retail
Analysis and advice from the front lines of the retail transformation.
Target Quarterly Results Trounce Estimates on Higher Online Sales
The American retailer has been spending more on its same-day delivery with services in a bid to better compete with rivals Amazon and Walmart.
Superdry Names Interim CFO
The reshuffle comes two months after the return of Superdry founder Julian Dunkerton sparked the resignation of most of the board.
Nordstrom Quarterly Revenue Drops
The department store's total revenue fell 3.3 percent to $3.44 billion, falling short of analysts' estimates of $3.58 billion. Shares subsequently dropped more than 9 percent.
Kohl’s Shares Drop After Big Quarterly Miss
The surprising results signal that the retailer needs to do more than rely on its Amazon partnership to drive sales.
J.C. Penney Posts Worse-Than-Expected Drop in Sales
As one of the oldest names in American retail, J.C. Penney has in recent years struggled to compete with fast-fashion brands and online shopping.
Why Farfetch's Free-Spending Ways Have Some Investors Concerned
Tech companies love to spend on customer acquisition. Some analysts worry Farfetch is going a little too far.
Ascena Is Shutting Down Dressbarn
The retail group announced that it would wind down its women's budget clothing chain, Dressbarn, shutting about 650 stores in the United States, as it sharpens its focus on profitable brands.
Nordstrom Sets October Opening for New York Flagship Store
With Nordstrom and rival Neiman Marcus both coming to town in 2019, it should prove to be a landmark year for New York retail.
Revealed: Calvin Klein’s Post-Raf Simons Playbook
Five months after Raf Simons’ exit, Chief Marketing Officer Marie Gulin-Merle breaks down her plan for creating a 'halo effect' around Calvin Klein’s jeans and underwear without the help of a high-profile designer.
The BoF Podcast: Macy’s Executive Rachel Shechtman on Redefining Retail
Speaking in conversation with Imran Amed, the founder of Story and brand experience officer at Macy's discusses her innate love of retail and the challenges of creating "a living magazine."
NYC's First Outlet Mall Offers Bargains and an Instagrammable Voyage
The $450-million outlet centre, which spans 340,000-square-feet, promises discounts and deals on the city's Staten Island.
UK Retail Meltdown Turns Investors Sour on Even the Best Malls
Prime shopping venues across the country have mostly avoided those symptoms of decline, but that hasn’t stopped their values plummeting.
THE NEWS IN BRIEF
Vinted Faces Influx of Suspected Looted Goods After French Riots
The company has ‘taken immediate action to identify and remove listings linked to the looting,’ and has ‘stepped up monitoring of suspicious listings,’ a Vinted spokesperson said in a statement. ‘When our rules are breached, we act against the accounts involved, up to permanent bans.’
Zara Billionaire Owner Ortega Buys $550 Million Chicago Tower
Pontegadea Inversiones SL acquired the 51-story One North Wacker in the city’s business district in one of the biggest US office deals this year.
Joe Corré’s Light House Club Launches Pop-Up Spaces for Emerging Designers
Independent creatives can apply to utilise pop-up spaces at Light House to sell merchandise and meet with clientele.
Shein Outsells British Rival Asos as UK Revenue Hits $3.41 Billion
The ultra-fast fashion company said sales had been bolstered by marketing partnerships with music festivals, a pop-up shop on London’s Oxford Street and local Christmas gift events.
Gap to Use Athleta Leader’s Exit to Rebuild Slumping Brand
The departure of Athleta’s CEO for Lululemon is a chance to ‘reimagine the brand’s path forward,’ Gap Inc. CEO Richard Dickson wrote in an internal memo viewed by Bloomberg.
Harvey Nichols’ Birmingham Store Will Close in January
The department store’s Leeds and Bristol outlets will be converted to the Flannels brand in a shake-up under Mike Ashley’s Frasers Group, which purchased the chain when it was put into administration in mid-August.
Lululemon Hires Athleta Head in Management Shakeup
Maggie Gauger is joining Lululemon as chief product officer as new CEO Heidi O’Neill looks to revive sales.