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.
Superdry Issues Profit Warning After Founder's Return
The warning comes just over a month after Julian Dunkerton returned to lead a turnaround.
Lord & Taylor Could Be Sold as Hudson's Bay Considers Options
Hudson’s Bay has already closed several Lord & Taylor stores, including the flagship Manhattan location after agreeing to sell the building on Fifth Avenue.
How WeWoreWhat’s Danielle Bernstein Sold Nearly $2 million in Swimwear in 12 Hours
Bernstein’s latest collaboration with label Onia has solidified her selling power as an influencer. But it takes more than a big follower count to generate sales.
Neiman Marcus Is Working With Lazard for Sale of MyTheresa
Neiman said on Tuesday that it was evaluating options for the online retailer, which has been at the centre of a dispute with creditors since the unit was effectively transferred out of bondholders’ reach in September.
Under Armour Raises Profit Forecast After Upbeat First Quarter
Sales in international markets, including Europe and Asia, rose 12 percent and accounted for 27 percent of overall revenue.
Next Revenue Beats Analyst Estimates
While retail sales fell 3.6 percent, online revenue rose 12 percent and full-price sales rose 4.5 percent.
How Revolve Plans to Turn a Mega-Influencer Into a Fashion Mogul
Revolve pioneered the concept of using influencer marketing to sell fashion. Now the retailer wants to use its network of social media stars to launch more brands of its own.
Brazilian Retailer Magazine Luiza Buys Netshoes for $62 Million
It was reported last August that online sportswear retailer Netshoes had hired Goldman Sachs to seek an investor to inject cash in the company and restructure its debt.
Amazon Speeds up Shipping, but Brick-And-Mortar Rivals Buck Its Challenge
The ability of brick-and-mortar rivals to catch up with Amazon using their stores indicates the e-commerce giant could be vulnerable as it invests billions of dollars to build out the service.
Retailers Are Tracking Where You Shop and Where You Sleep
Retailers buying mobile-phone data that can track where and for how long people shop, eat, see movies -- and where they go before and after.
The Unlikely Partnership That’s Driving Consumers Back to Big Retail
In an effort to drive foot traffic, Kohl’s is accepting Amazon returns in over 1,100 stores; Nordstrom will soon accept returns from Urbanoutfitters.com. These types of unlikely partnerships might be big retail’s smartest defence yet.
Shares of US Retailers Drop Following Amazon's One-Day Delivery Announcement
The e-commerce giant's announcement on Thursday could cause other brands, manufacturers, retailers, and logistics companies to have to invest more aggressively to compete with Amazon.
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.