Dive Brief: With almost all stores temporarily closed since March 17 due to the COVID-19 pandemic, L Brands said Wednesday that first quarter net sales fell 37% to $1.65 billion from $2.63 billion a year ago. The company will close 250 Victoria’s Secret stores it owns in North America “over the next few months,” executives said
As “buy online pickup in store,” or BOPIS, grows in popularity for consumers, it is also becoming an enticing platform for fraudsters. Retailers are facing a new set of challenges with click-and-collect services that many are not prepared to handle. Although it is hard to compare the rates of fraud in BOPIS to other channels,
Shoppers exit a Bed Bath & Beyond store in New York. Michael Nagle | Bloomberg | Getty Images Bed Bath & Beyond shares jumped nearly 3% Monday morning after the retailer said it had completed a sale-leaseback transaction with an affiliate of Oak Street Real Estate Capital, netting it $250 million in proceeds. The embattled
Tim Seymour shopping for a Christmas tree on Manhattan’s Upper West Side. Source: Tim Seymour On a Saturday morning earlier this month, I went out with my daughter on the annual urban pilgrimage to buy a Christmas Tree in New York City. My son was too busy on his iPad to care (AAPL all-time highs).
A customer enters a Sears Holdings Corp. store in San Bruno, California, U.S., on Friday, Dec. 28, 2018. David Paul Morris | Bloomberg | Getty Images As the holiday season approaches, the parent company of Sears and Kmart has secured a $250 million lifeline and announced plans on Thursday to shut 96 more stores. That