Business

With sales soaring, Warby Parker prepares for its market debut.

Warby Parker is set to go public on Wednesday in a direct listing that could value the trendy eyewear retailer at about $5 billion. (It was valued at $3 billion in the private market just over a year ago.) Warby is one of a number of direct-to-consumer brands, like AllBirds and Fabletics, set to make […]

Business

Mall guy: Investor mints a fortune in retail scene

(BLOOMBERG) – Mr Igal Namdar has made a fortune buying shopping malls no one else wants. He scoops up struggling centres at bargain-basement prices after their landlords lose faith, betting he can turn a profit before the last tenants turn out the lights. So far, that strategy has netted big gains – as well as […]

Business

When Kmart Moved Out, Churches and Flea Markets Moved In

When Kmart opened its first store, in Garden City, Mich., in 1962, the aim was to become an all-under-one-roof retailer. Americans’ shopping habits had gravitated toward the suburbs after World War II, and Kmart was going to cater to them. Kmart last opened a new store in 2002; since then, it has all been closings. […]

Business

Qurate Retail Picks Next CEO

David Rawlinson 2nd, a technology and media executive, will become president and chief executive officer of Qurate Retail Inc. on Oct. 1, succeeding Mike George after a two-month transition period starting Aug. 1. During the transition period, Rawlinson will serve as president and CEO-elect. Rawlinson, a Harvard MBA, was previously CEO of NielsenIQ and earlier, […]

Business

As Bolt Network Grows, Merchants and Consumers See Tangible Benefits

Online checkout experiences are frustrating, complicated and confusing. Shoppers are asked to fill out financial information from one site to another, and from brand to brand. That’s why industry analysts estimate that around 60 to 70 percent of consumers abandon a purchase at the checkout. With Bolt, the payment platform has made the checkout process […]

Business

Thai fashion brand Pomelo launches solutions platform to help firms in industry to scale operations

SINGAPORE – Apparel and fashion brand Pomelo has launched a brand services and solutions platform to help other businesses in the industry scale their operations quickly. Called Prism, the platform will provide fashion brands with support in areas such as managing logistics and marketing needs, Thailand-headquartered Pomelo said on Thursday (June 24). The platform is […]

Business

Australia May retail sales edge up 0.1 per cent from month earlier, lag expectations

SYDNEY (REUTERS) – Australian retail sales rose less than expected last month, with a snap coronavirus lockdown in the country’s second most populous state of Victoria hurting demand, preliminary data showed on Monday (June 21). Retail turnover gained 0.1 per cent in May from a month earlier after jumping 1.1 per cent in April, according […]

Economy

Yankee Candle distributor bracing itself for tough times ahead

SINGAPORE – The raft of government support and other relief measures last year helped get the local distributor of Yankee Candle through what has been annus horribilis for many retailers, but even more challenging times may lie ahead. The ending of rental rebates and the winding down of the Jobs Support Scheme (JSS) are posing […]

Business

Macy’s first-quarter sales jump 56 percent as shoppers return.

By Sapna Maheshwari Macy’s said on Tuesday that its first-quarter sales jumped more than 50 percent from last year, when the start of the pandemic pulverized the retailer’s revenue, and it raised its forecast for sales and profit this year. The company, which also owns Bloomingdale’s, reported $4.7 billion in sales for the three months […]

Business

CommerceHub Names Former AWS, Microsoft Executive as CEO

E-commerce platform provider CommerceHub has named Bryan Dove as chief executive officer, succeeding company founder Frank Poore. The naming is part of a planned succession for the company. Dove is a former Amazon Web Services and Microsoft executive who most recently served as the CEO of Skyscanner. CommerceHub described Skyscanner in a statement as “a […]