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Tag: Apparel Retail

Colin Kaepernick’s new Nike shoe sells out on the first day

Force 1 x Colin Kaepernick shoe. Nike Nike’s new “True to 7” shoe with former NFL quarterback Colin Kaepernick has already sold out on the first day of its North American release, according to the company’s website. “This Air Force 1 season, Nike partnered with a collective of collaborators to design an AF1 that connects …

Colin Kaepernick’s new Nike shoe sells out on the first dayRead More

Stitch Fix CEO on future of company as shares soar on strong quarter

Stitch Fix is finding success in an evolving retail landscape because its business embodies the new consumer preference, CEO Katrina Lake told CNBC on Tuesday. “Today people want to be treated like unique individuals and they want to be respected for their preferences,” Lake said on “Squawk Alley.” “And I think our model is really …

Stitch Fix CEO on future of company as shares soar on strong quarterRead More

Sears, Walgreens among retailers that closed stores in 2019

Micah Young | E+ | Getty Images 2019 has been a record year for store closures in retail. In the U.S., retailers this year have announced plans to shut more than 9,300 locations. That’s up more than 50% from the total announced closures in 2018, which amounted to 5,844, Coresight said. Previously, the record was …

Sears, Walgreens among retailers that closed stores in 2019Read More

Kroger and Walgreens want to buy products together to cut supply costs

Kroger and Walgreens have been working together since 2018 on various pilot tests. Source: Kroger Kroger and Walgreens Boots Alliance are teaming up to cut costs by sourcing more merchandise together. With what they call the Retail Procurement Alliance, the chain retailers will look for overlaps in the products they are receiving so that they can …

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Here’s why Forever 21 went bankrupt

Forever 21 has long been a staple in America’s shopping malls. But after this holiday season, more of its stores will go dark. The fast-fashion retailer’s rapid expansion internationally took a toll on the company and contributed to Forever 21’s decision to file for Chapter 11 bankruptcy protection in September. At the time, it had …

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Lululemon (LULU) reports fiscal Q3 2019 earnings beat

Pedestrians seen walking past Canadian athletic apparel retailer Lululemon in Shanghai. Alex Tai | SOPA Images | LightRocket | Getty Images Lululemon on Wednesday reported quarterly earnings and sales that topped analysts’ estimates, as more shoppers around the world picked up its yoga pants and sports bras. And its men’s business continued to grow. But …

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Imran Khan’s Verishop teams up with a US mall owner to open stores

Verishop, a shopping website and brand incubator launched earlier this year by former Snap exec Imran Khan and his wife, has struck a deal with U.S. mall owner Unibail-Rodamco-Westfield to open 14 stores through next year. That will include a mix of pop-up shops and permanent locations, the companies said. Verishop’s first space, for its …

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Bonobos founder Andy Dunn to depart Walmart in 2020

The founder of Bonobos, Andy Dunn, is leaving Walmart, roughly two years after the company acquired the money-losing online apparel retailer and he joined Walmart to help grow its e-commerce operations. Dunn said in a LinkedIn post on Thursday that he would be departing in early 2020. He didn’t specify where he would be heading …

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Teen shoppers are not as ‘fickle’ as you think

It may be an internet world where memes are here today, gone tomorrow, but teen shoppers are actually loyal to products and brands, Crocs CEO Andrew Rees told CNBC on Wednesday. “When they’re buying something that provides a lot of value, they stick with it,” Rees said on “Power Lunch.” Teens, apparently, are not just …

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Holiday season off to solid start as 190 million people shop Thanksgiving weekend

Holiday shoppers take part in early Black Friday shopping deals at the Gap store in Times Square in New York. Brendan McDermid | Reuters The holiday shopping season has begun in earnest, with nearly 190 million consumers shopping between Thanksgiving and Cyber Monday, the National Retail Federation said Tuesday. The retail trade group said that’s …

Holiday season off to solid start as 190 million people shop Thanksgiving weekendRead More