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.
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.
Google Unveils Slew of New Digital Ad Formats in Amazon Battle
The tech giant's giving advertisers a ton of extra digital real estate, adding new promotional formats to online search, YouTube and its increasingly popular Discover service.
Shopping Centre Values Slashed in UK Retail Crisis
Britain’s second-largest real estate investment trust lost about £10 million in rent from retailers in the last financial year.
Amazon Debuts Click-and-Collect Counters in UK and Italy
The US online retailer has struck a partnership with British retailer Next to operate at the counters of more than 500 outlets across the country.
US Retailers Revamp Loyalty Schemes for the Amazon Era
Recent data showed retailers now invest at least 2 percent of their total revenue on loyalty programmes and double that or more on related customer targeting and analytics.
460,000 Uniqlo Online Accounts Accessed in Japan Hack
On Monday Uniqlo announced that at least 460,000 accounts we accessed by hackers registered on Fast Retailing’s Japanese shopping website.
Dark Clouds Gather Over U.S. Retailers Ahead of Earnings Season
Wall Street will learn between now and Memorial Day whether the mixed Christmas period was just a blip, or if darker days may be ahead for consumer spending.
Skies Darken for Retailers Reporting Earnings Amid Rising Trade Tariffs
Among 18 services industries surveyed, retail is the only one projecting sales will fall this year.
The Clothing Rental Market’s Broadening Appeal
Expanded assortments and more niche offerings from companies like Rent the Runway and Le Tote are reaching new shoppers — and changing their spending patterns
Polish Amazon Workers Demand Near-Doubled Salaries
The requests follow strikes earlier this year in Spain and Germany, where workers demanded higher pay and better working conditions.
British Mall Operator Intu Names Investment Chief
Intu has been looking to preserve cash and reduce debt by selling assets after it became a target of two failed takeover bids last year.
Investor Consortium Celine to Retain Debenhams Ownership
The decision followed a statement that bids received for the British department store were not at an acceptable level.
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.