‘We’re getting an absurd amount of people’: Neighborhood Goods CEO Matt Alexander on the return of physical retail

Business has rebounded for updated department store Neighborhood Goods, according to its CEO and co-founder Matt Alexander. "Sales continue to grow and we continue to add more brands," Alexander said on the Modern Retail Podcast.

Latest Stories

  • MAY 23, 2022

    ‘People feel the need to get dressed up’: Apparel retailers struggle to adapt to changing preferences

    Apparel retailers faced numerous headwinds in the first quarter that dampened bottom lines including continued supply chain pressures and inflation. Moreover, apparel preferences are rapidly changing from stay-at-home basics to workwear and partywear.

  • MAY 19, 2022

    Kohl’s slashes full-year outlook as revenue, operating profits drop

    Following troubling financial results from other big-box retailers this week, Kohl’s reported declining revenue and operating profit in the first quarter. The company’s results come on the heels of Walmart and Target, who’ve also taken a hit from economic headwinds like inflation, fuel costs and supply chain expenses. Kohl’s is also receiving pressure from activist investors and several takeover offers.

  • MAY 19, 2022

    ‘They’re ready for liquidity’: OpenStore’s Michael Rubenstein on building a platform to give Shopify founders an exit

    OpenStore launched in 2021, with the idea to use proprietary technology to suss out which online brands have the most upside. It's raised over $130 million both in venture capital and debt. E-commerce brands can go to OpenStore's website and share their Shopify data with the portfolio company. Co-founder Michael Rubenstein joined the Modern Retail Podcast this week and spoke about the current state of e-commerce portfolio companies and why he thinks OpenStore is poised for success.

  • MAY 18, 2022

    Target’s profitability dips as product forecasting gets more complicated

    Target's operating margin dropped from 30% to 26% year-over-year, as the retailer discounted inventory, navigated supply chain issues and increased staff wages. Analysts explained that Target's earnings highlight the increasing difficulty of getting the right product at the right time amid headwinds ranging from inflation to continued supply issues.

  • MAY 18, 2022

    ‘TikTok can be dangerous’: Overheard at Digiday Media’s Commerce Week

    At Digiday Media's Commerce Week -- held both virtually and in New York City -- business leaders from many different industries came together to talk shop. Some had solutions, others problems that needed to be fixed. We kept our ear to the ground to hear some of the biggest pain-points executives said and compiled it here.

  • MAY 18, 2022

    How Italian coffee company Lavazza is tapping into the ready-to-drink category

    127-year-old Italian coffee company Lavazza debuted a ready-to-drink cold brew line in late April, which it is positioning as a play for Gen Z. “For Gen Z, RTD has been a major entryway into coffee,” said Camille Vareille, the head of marketing for Lavazza in the U.S. “Many younger drinkers start out with cold and sweet coffees before moving into variants like espresso.” 

  • MAY 16, 2022

    As Nike cuts ties with retailers, competitors look to take its place in wholesale

    Nike’s impending absence in shoe stores is leading to a shakeup in the wholesale space. Adidas announced a long-term partnership with Foot Locker last week that includes the development and expansion of franchises in women’s, kids and apparel. Meanwhile, wholesale retailers and sneaker brands alike have been recalibrating their strategies; DSW has been highlighting other athletic brands -- such as New Balance, Skechers and Brooks -- after Nike said it would stop selling products through DSW

  • MAY 16, 2022

    With Loop and Happy Returns teaming up, returns become big e-commerce business

    Competition in the e-commerce returns space is heating up, leading some companies to join forces. Last week, Shopify returns provider Loop and PayPal's Happy Returns announced a partnership that allows Loop users to offer box and label-free returns at Happy Returns' 5,000 service locations. Loop's president Aaron Schwartz said that while Happy Returns and Loop may have been seen as competitors, the new partnership will allow each provider to focus on their expertise areas: offline drop-off return logistics and online return software, respectively.

  • MAY 13, 2022

    ‘You’re stretched very thin’: What led a group of Virginia Target workers to unionize

    This week, a Virginia Target store joined the wave of union activity among retail workers. The workers collective, Target Workers Unite, filed the motion with the National Labor Relations Board. The Christiansburg, Virginia, location’s upcoming union election is being led by Adam Ryan, one of the leaders of Target Workers Unite.

  • MAY 12, 2022

    ‘We don’t want to be seen as a payments company only’: Klarna unveils virtual shopping offering

    Nearly a year after acquiring online commerce startup Hero, Klarna has launched a virtual shopping offering of its own. Through Virtual Shopping from Klarna, shoppers can connect with in-store experts via live chats and video calls to get advice. Klarna Chief Marketing Officer David Sandstrom told Modern Retail that the virtual shopping offering is just the first among many social shopping capabilities the company is working on, signaling its bet on social commerce. 

  • MAY 12, 2022

    ‘An awesome product is table stakes’: Weezie co-founder Lindsey Johnson on building a luxury bath brand

    The key to DTC towel brand Weezie's success is staying in its lane -- or, bathroom. That's according to co-founder Lindsey Johnson who joined this week's Modern Retail Podcast. The company, which makes luxury bath towels along with other bathroom-related products like bathrobes and bathmats, has seen year-over-year growth and said late last year that it was on track to hit eight figures in revenue in 2021.

  • MAY 12, 2022

    How Carter’s is using its Little Planet brand to test sustainability initiatives

    Baby and kidswear retailer Carter’s is using its newest brand – Little Planet – to test new material and more eco-friendly packaging that caters to more eco-conscious parents. Little Planet launched in mid-2021 and is currently in more than 90 Carter’s stores, with planned expansion into 200 stores this year.

  • JUN 01, 2022

    Why independent retailers are joining shopper networks

Modern Retail Awards
Sep 9, 2022

Recognizing the companies and campaigns modernizing retail in the digital age.