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Crafting retailer Joann’s third quarter revenue was down 14% year-over-year, despite the retailer's digital investments. The performance highlights that, after a banner 2020, crafting and sewing interest has officially slowed down.
Lids announced that it would be expanding to the U.K. for the first time with four new London-based stores. The company's President Britten Maughan talked with Modern Retail about the resonance of U.S. sports across the pond, the importance of personalization in sportswear and future international expansion plans.
While 2020 may have been the mad dash towards omnichannel pickup -- any omnichannel pickup -- retailers in 2021 are now finding ways to iterate upon their initial offerings. Ahead of the holidays, retailers like Target and Kohl's are dedicating more space, more features and more focus to online/offline pickup services.
Media company Popsugar is continuing to invest in traditional retail, and will launch a new line of home fitness gear in partnership with Target this December. Popsugar is looking to expand its retail presence in one of its strongest content categories: many of Popsugar’s most popular workouts have over 25 million YouTube views.
Retail analytics firm Sensormatic Solutions found that in-store foot traffic was down 90% on Thanksgiving day and 28% on Black Friday compared to pre-pandemic 2019 levels. With brands pushing holiday shopping earlier, offering smaller discounts and failing to prevent out-of-stocks, consumers shift away from Black Friday this year.
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.
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.
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.
After leaving DavidsTea in 2016, David Segal is today launching his second tea brand, Firebelly Tea, alongside co-founder Harley Finkelstein, the president of Shopify. The brand is launching with 20 tea flavors and seven tea-making accessories "curated to modern living."
As digital product drops have become the marketing strategy du jour for brands, retailers and marketplaces, Basic.Space is looking to stand out with livestreams, audio and visual integrations to make drops more of an experience.
Today, link-in-bio company Linktree announced a new partnership with Shopify, integrating Shopify storefront features directly into users’ link-out Linktrees. As link-in-bio companies face an existential threat from social media e-commerce integration, Linktree builds out a multi-platform e-commerce aggregation strategy.
Fast-food chains are having a banner 2021, and digital orders, in particular, are driving this growth. But four current and former employees at McDonald's Starbucks, Whataburger and Sonic say the deluge of digital orders is making their jobs more difficult.
Today, eBay relaunches its eBay Refurbished program with gifting in mind. The investment runs side-by-side to the platform’s continued rollout of site features and fee benefits for personalized items, another holiday focus for eBay. These are a few of the ways the marketplace is implementing to woo both buyers and sellers.
Bombas was founded in 2013 as a buy-one-give-one sock company, when co-founders Randy Goldberg and David Heath learned that the category was the most requested clothing item for homeless shelters. In 2019, the brand moved into t-shirts and, in 2021, into underwear and slippers.
Home decor and board games are the latest pandemic strange bedfellows, as home brands and retailers increasingly take inspiration from table-top classics. Ahead of the holiday season, for example, Anthropologie is releasing its own line of special edition, luxury Hasbro board games.
Hiring is a challenge for many retailers this year, prompting companies to incentivize candidates with increased pay and perks. However, the traditional retail hiring practice is also part of the problem. The Body Shop's newly-implemented "open hiring" method, which removes several application barriers, is helping the company staff its stores and warehouses.
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