Earnings

Chipotle’s new recruitment strategy signed on 5,000 new employees

On Tuesday, Chipotle announced that revenues increased 38% year over year in the second quarter of 2021 to $1.9 billion. To court employees this quarter, Chipotle raised its minimum wage, recruited via social media, invested in a mental health app for current employees and subsequently hired 5,000 new employees over the second quarter, up to 102,000 total workers at 2,850 restaurants.

Latest Stories

  • JUN 02, 2021

    Macy’s and Nordstrom are betting on off-price to stay relevant after the pandemic

    As Nordstrom and Macy's are still struggling to return to 2019 sales levels, they are investing more in their off-price businesses to acquire new customers. Nordstrom is focused on driving more Nordstrom Rack sales with the help of its e-commerce business. Macy's meanwhile is opening more off-mall locations and store-in-store locations.

  • JUN 01, 2021

    Cheatsheet: Dresses, handbags and activewear drive apparel retailers’ first quarter success

    As first quarter earnings calls come to a close, department stores and apparel retailers report that dresses, handbags and activewear drove first quarter sales boosts, while footwear was a mixed bag. To get a better sense of what subcategories are driving success, and which categories are falling behind, Modern Retail rounded up recent earnings call comments from apparel retailers.

  • MAY 27, 2021
    best buy

    How Best Buy is rethinking the role of its store employees

    As Best Buy is mapping out its post-pandemic future, its store employees are becoming responsible for more than just selling product. Like many other retailers, Best Buy saw huge growth in fulfillment services like curbside pickup during the pandemic, so it's testing out how it can reformat its stores in order to fulfill more online orders as well as utilize its employees to better handle all the new daily requirements.

  • MAY 25, 2021

    Nordstrom’s sales growth lags as it struggles to diversify away from apparel

    Nordstrom's sales are starting to inch closer to pre-pandemic levels, but the department store chain is still trying to figure out the right product mix going forward. During its first quarter earnings on Tuesday, Nordstrom reported year-over-year sales growth that was slower than the growth reported by Macy's and Kohl's during their respective first quarter earnings last week.

  • MAY 20, 2021

    Kohl’s is betting that activewear and beauty will drive shoppers back to its stores

    Kohl’s joins Macy’s and Dillard’s in revealing revenue increases and performance exceeding predicted expectations in the first quarter of 2021. Kohl’s attributes some of this success to optimized merchandizing strategies, returning consumer interest in the apparel category and increased foot traffic. However, the retailer is cautious in its predictions of future performance.

  • MAY 20, 2021

    Cheatsheet: Home Depot and Lowe’s are trying to extend the home improvement boom

    Last year, Home Depot and Lowe's reported huge sales gains on the backs of people spending more time -- and more of their money -- at home. Now, the question is whether or not these gains can continue into 2021. During their first quarter earnings calls this week, Home Depot and Lowe's laid out their respective strategies for retaining customers this year.

  • MAY 19, 2021

    Target’s private labels boosted its quarterly sales

    Coming off a strong 2020, Target’s latest earnings exceeded estimates. In its 2021 first quarter earnings report, the company recorded double digit growth and increased its market share. Target execs credited investment in store visits, pickup and delivery for the growth. But, the company said that private label lines were also a major driver of sales, reaching a record 36% in sales growth.

  • MAY 18, 2021

    Walmart reports strong e-commerce growth, but Amazon is inching closer

    At its most recent earnings, Walmart reported 37% year-over-year growth in its e-commerce sales, a strong number from a company that is on the verge of being overtaken by Amazon in the retail sector -- and whose executives have expressed concerns about rising competition from Amazon and Instacart.

  • APR 29, 2021

    Amazon’s profits are big, but competition is heating up

    Amazon brought in $52.9 billion through its online stores in the first quarter of 2021, by far its largest category of revenue. But other sectors of its business -- including seller services, subscriptions, AWS and advertising -- have continued to see big surges. But competitors, including Facebook and Shopify, are also seeing big commerce gains.

  • MAR 18, 2021

    Nike’s sales growth slowed during the third quarter due to supply chain challenges

    Nike has managed to fend off significant sales losses during the pandemic, but that doesn't mean it was immune from any headwinds. The company reported during its fiscal third quarter earnings today hit net revenue of $10.4 billion, up 3% year-over-year, while e-commerce sales were up 59% year-over-year. However, that represents a slowdown compared to 9% revenue growth and 84% e-commerce growth during its second quarter.

  • MAR 02, 2021

    Kohl’s is trying to make its stores a destination again once the pandemic subsides

    During its fourth quarter earnings, Kohl's executives focused their remarks on how the company plans to bring shoppers back to store next year. The company reported today that during its fourth quarter, net sales were down 10% year-over-year, while online sales were up 22%. Kohl's still managed to report a profit of $343 million. Now, Kohl's is preparing for the launch of a new private label athleisure brand later this month, as well as the launch of new Sephora shop-in-shops in August, to try and drive customers back to stores.

  • FEB 25, 2021

    How Best Buy is preparing for post-pandemic shopping trends

    After a year of significant e-commerce growth, Best Buy executives said the company is now focused on preparing for the shift to online shopping to remain permanent. During its fourth quarter earnings on Thursday, Best Buy reported that e-commerce sales were up 90%, and now represent 43% of its total sales. CEO Corie Barry said that the company is projecting that next year, e-commerce will still make up roughly 40% of sales. In order to prepare for this shift, Best Buy is rethinking both how its stores look, and how it staffs those stores.

  • JUL 16, 2021
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    Report: Brands that deliver exceptional customer experiences drive revenue growth

    Every interaction a customer has with a brand is an opportunity to nurture the customer-brand relationship. This report highlights tactics that top brands are using to improve the customer experience.

Modern Retail Livestream Commerce Trends
Jul 28, 2021

At Modern Retail’s Livestream Commerce Trends, we’ll explore how the growth of livestream and video shopping trends are transforming how retailers, brands and marketing teams are engaging with consumers in-stream and live across social and owned-and-operated websites.

REGISTER