Nordstrom is looking to go private, with members of the Nordstrom family offering $3.8 billion to seal the deal, according to a report from The Seattle Times. Nordstrom CEO Erik Nordstrom and his brother Pete, who serves as president of the company, announced Wednesday they had been exploring ways to take the upscale department store…
Marie Albiges
The niche Halloween store Spirit Halloween announced Tuesday it was opening 1,525 stores, the most in its history, this fall across North America. Already the nation's largest Halloween retailer, the 41-year-old seasonal company said it would hire thousands of associates to man the stores in the coming weeks. Over 1,100 locations are already open. "The…
Sara Blakely, who founded the billion-dollar company Spanx over two decades ago, announced Tuesday the launch of Sneex, a hybrid luxury sneaker and high heel that goes for $395 to $595. Multiple news outlets reported that Blakely designed a shoe that "blends the style of a traditional high heel with the performance and comfort of…
e.l.f. Beauty reported a 50 percent gain in net sales in the first fiscal quarter of 2024 and increased its full year forecast as a result. The company reported a net sales of $324.5 million, saying the increase — from $216.3 million a year ago — was a result of both its brick-and-mortar and e-commerce…
ThredUp, one of the largest online resale platforms for apparel, shoes and accessories, unveiled a new suite of artificial intelligence-powered tools to aid in discovery shopping, the company announced Monday. Visitors can now search for products with what ThredUp is calling "natural language" — for example, typing in "swimsuit for a triathlon" or "tank tops…
Etsy announced Wednesday it was piloting a new buyer membership program called Etsy Insider to incentivize more consumers to shop the online marketplace. "One of our top priorities is encouraging buyers to think of Etsy first and shop with us more often, translating the joy Etsy inspires into more sales for our 7 million sellers,"…
Conn's HomePlus, the Texas-based home goods, furniture and electronics retailer, filed for Chapter 11 bankruptcy on Tuesday and is closing 73 of its 170 stores, multiple news outlets reported. The closures and bankruptcy filings come after a year of lost profits for Conn's — the company ended 2023 with a year-over-year net loss of nearly…
Preliminary results for Amazon Prime Day, held July 16-17, show that shoppers spent about $7.2 billion online across retailers — not just at Amazon.com — during the first day of the e-commerce sales event, which has quickly become as ubiquitous as the fall Cyber Monday sales day. Adobe Analytics reported that the $7.2 billion amount…
Starbucks will pilot a reusable cup program in Petaluma, CA starting in August, the company announced Tuesday in a press release. Partnering with NextGen Consortium, a global consortium that aims to address the world's single-use food packaging waste by advancing the design, commercialization and recovery of packaging alternative, Starbucks will swap single-use cups for reusable…
Amazon.com announced its 10th Prime Day for this summer, happening July 16-17 and limited once again to those with a Prime membership. Meanwhile, competitive retailers like Walmart, Target, and Best Buy are countering Prime Day with their own discounts leading up to and during that same week. Prime Day starts at midnight on July 16…
Netflix announced Tuesday it plans to open two experiential spaces for entertainment, shopping and dining in 2025. Dubbed "Netflix House," the two locations — slated for King of Prussia Mall outside of Philadelphia, and Galleria Dallas in Texas — are marketed as a "year-round home for fans to live the stories they love." A company…
Starbucks announced last week it is making its entrance into the entertainment industry by starting Starbucks Studios, a new initiative the company said will produce original entertainment and "tell stories that deepen connections and spark conversations." The coffee giant didn't say what kinds of entertainment we can expect, but revealed it is teaming up with…
Hanesbrands, the apparel company with several brands within its portfolio, announced Wednesday it had agreed to sell its sportswear brand Champion to another retailer, Authentic Brands, for $1.2 billion. Authentic Brands also owns apparel brands such as Aeropostale, Billabong, Brooks Brothers, Forever 21, Juicy Couture, Lucky Brand, Nine West, Sperry, and Volcom. The sale was…
Abercrombie & Fitch has outperformed expectations for first-quarter earnings, with shares jumping more than 10 percent as the company recorded the strongest first quarter in its history Wednesday. The apparel retailer reported a net sales increase of 22 percent year-over-year. Its net income for the three-month period that ended May 4 was $113.9 million. It…
Jane Elfers, who has led The Children's Place as its CEO since 2010, announced her departure effective Monday. Elfers also served as the president and a board member. A SEC filing said the departure was a "mutual agreement with the company." Elfers will receive $3.75 million in the form of a separation payment, as well…
