At Macy’s, Abercrombie & Fitch, Tapestry, Kontor, Kohl’s, Boot Barn and Farfetch, revenues grew between 10% and 33% year-over-year this quarter.As apparel retailers learn to navigate supply issues and consumers return to stores, children’s apparel, formal clothing and jewelry lead third quarter success.
Nicole Johnson said that as a partner at venture capital firm Forerunner -- which has invested in some of the most notable consumer startups over the past decade, ranging from Away to Stadium Goods to Oura -- her focus has been on understanding the "consumer psyche -- where the consumer is heading and why.
For Black Friday, Hollister and Snap are partnering up for a shoppable augmented reality holiday marketplace. Hollister will sell a selection of comfort-focused apparel and gifts from two of its three brands -- Hollister and Social Tourist -- via a shop meant to look like a modern convenience store.
A recent Modern Retail and Glossy survey asked brands and retailers what they expected for the weeks to come, and many reported overall positive outlooks. Over half of the respondents said they expect their holiday revenue to be at least slightly up from 2020's sales. Recent earnings results underpin these expectations.
Best Buy combats margin declines and supply chain constraints with investments in a beefed-up membership program. While the program has put short term financial pressure on the company, analysts interviewed by Modern Retail and Best Buy executives promise long-term gains.
After years of helping build the plant-based food trend, Impossible Foods is partnering with another CPG brand. This month Buitoni Food Group released the first two Impossible products, which the company says is an attempt to cater to consumers' changing diets and tastes.
We've entered a new paradigm for the work lunch. While restaurant lunch sales are slowing relative to pre-pandemic, customers are instead flocking to grocery stores and other retailers for home-cooked, packaged, and frozen meals -- turning lunches into an increasingly supermarket-centric occasion. As a result, lunch-focused businesses are pivoting.
Nearly two years after the start of the coronavirus pandemic, retailers are still getting accustomed to operating in uncharted territory. That was evident during a series of third-quarter earnings calls last week from some of the biggest retail chains -- Walmart, Target, Home Depot, Lowe's, Kohl's and Macy's all reported earnings.
Pizza Hut has been shifting to a predominantly digital-first media mix globally since 2017, Courtney Vogel, chief transformation officer at Pizza Hut International told Modern Retail. The company hatched a plan to add more mobile-centric experiences to its marketing mix at the end of 2020 -- a time when the pandemic was forcing brands to rethink their strategies amid store closures.
After relying on wholesale for years, apparel brand Rails is starting to grow globally by opening its own stores abroad. Rails, which was founded in 2008, opened its first international store in Paris in July. Next, the company is preparing to open two Rails stores in London, with the first location opening this coming winter.
After taking a hit during the coronavirus and investing in new store features, Kohl's is back on track and increasing sales. During its 2021 third fiscal quarter, the department store credited its newly-opened Sephora shop-within-shops for the influx of young new customers.
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