Industry News
Multichannel Retail
Top stories summarized by our editors
10/22/2020

Apple will grow its Express store format from about 20 to 50 locations in the US and Europe by the end of the month, in a push to promote the new iPhone 12 and safer shopping. Shoppers must schedule an appointment to pick up online purchases or consult with Apple's service technicians.

Full Story:
Reuters
10/22/2020

American Eagle Outfitters has created a $5 million endowment to fund scholarships for employees who have proven themselves as advocates of social justice. Applicants will submit essays on how they're fighting racism, inequality or other social justice issues and if selected for the AEO Real Change Scholarship for Social Justice, each winner will receive up to $40,000.

10/22/2020

UK supermarket chain ASDA has opened a test store, in collaboration with popular consumer brands, that's designed to promote more sustainable practices. The store features 15 stations offering foods, cosmetics and household products in a refillable design; a wider array of fresh foods packaged without plastic; and a stock of vintage clothing from wholesaler Pre-Loved.

Full Story:
Forbes
10/22/2020

Americans plan to spend an average of $997.79 on gifts, food and other items for the holidays this year, about $50 less than last year but higher than the five-year spending average, according to an NRF survey. People who plan to spend less on non-gift items for themselves and their family members account for most of the planned dip in spending, the survey found.

Full Story:
CNBC
10/22/2020

Tesla reported a profit for the fifth consecutive quarter on Wednesday even as it spent 33% more on operating expenses compared with a year earlier. This week, some Tesla customers received a beta version of the company's autonomous driving software.

Full Story:
CNBC, The Verge
More Summaries:
Tesla
10/22/2020

The ransomware on Indiana-based auto supplier KYB is one example of why it's important for manufacturers to train employees of the risks from email phishing and unpatched vulnerabilities, says Tenable staff research engineer Satnam Narang.

Full Story:
IndustryWeek
10/22/2020

Carpet tile manufacturer Interface has introduced a new line of tiles that are carbon-negative with the use of recycled yarn, carbon-storing biomaterials and an updated manufacturing process. The company is also acquiring carbon offsets to account for post-manufacturing activities.

Full Story:
Fast Company online
10/22/2020

Covid-19 Essentials opened its first store in June and has since grown to eight mall-based locations that sell a wide range of stylish and functional face masks. US mask sales are predicted to hit between $1 billion and $9 billion by next year based on estimates that call for half the population to be wearing them.

Full Story:
CNN
10/22/2020

Lionstone Investments and Rebees are moving forward with plans to revitalize Sugar Land Town Square shopping center in Texas with a completion expected in mid-2021. The companies are adding seating areas, remodeling storefronts and adding new tenants.

10/22/2020

The Shops at the Gate is the latest development at the Frisco, Texas, mixed-use project, with completion scheduled for next year. One restaurant has signed a lease in a corner location of the 16,000-square-foot facility, developers said.