Tools for data management and analytics appear poised to take on a larger role in manufacturing, according to this analysis. ABI Research predicts spending on such things as scanners, interconnected hardware and cloud services will increase over the next few years.
Research by the World Economic Forum notes the importance of the role played by information systems and supply chains in manufacturers' operating models, and Tulip CEO Natan Linder examines five lessons that can be drawn from this observation.
Table glass and stemware maker Libbey has filed for Chapter 11 bankruptcy protection but says it hopes to emerge from this status in September. The filing excludes Libbey's international operations and comes after the company negotiated an arrangement with creditors and lenders.
Retailers of all sizes have provided a slew of examples of doing good in their communities and making life a little better in the stress of the pandemic, NRF's Kris Stewart and Susan Reda said in an episode of the Retail Gets Real podcast. Companies like Mount Royal Soap Co. and Ministry of Supply turned their talents to making hand sanitizer and masks, Sam's Club created a "Shop from Your Car" option for at-risk customers, and Zappos' Customer Service for Anything hotline helped health care providers locate essential equipment.
Rothy's launched the Open Innovation Coalition to give brands a way to collaborate and share resources in the fight against COVID-19, and the group has worked to connect needs with resources, open source patterns, provide blueprints for shifting to PPE production and donate excess materials. "I think there may be a shift coming out of COVID that changes how we work with other brands and partners," Saskia van Gendt, Rothy's head of sustainability and leader of the coalition, said on an episode of NRF's Retail Gets Real podcast.
To survive the immediate effects of the pandemic, mall REITs took several steps including furloughs, layoffs and reduced executive compensation and expenses. For their longer-term viability they are implementing such measures as supporting small businesses, changing space uses and selling land for non-retail purposes.
Armada Hoffler Properties has sold a portfolio of grocery-anchored assets to Slate Retail REIT for $90 million. The deal price was originally announced at $106.5 million two months ago, but the parties subsequently formed a new deal.
Real-estate firm Bedrock has rolled out a program called Bedrock Relaunch that allows restaurants and retailers in Detroit to opt out of monthly rent payments. In exchange, eligible businesses can pay 7% of gross sales from July through the end of the year to their landlord.
Party City Holdco has proposed a debt-for-equity swap with bondholders that would remove around $450 million in debt and raise $100 million in capital, the retailer said. The deal would give the bondholders a 19.9% equity interest in the retailer, along with two new bond issues totaling $285 million, with maturity dates in 2025 an 2026.
Dollar General and Dollar Tree both reported strong quarterly sales growth as their bargain prices and small-store formats proved attractive to consumers during the coronavirus outbreak. "The fact that there are so many of them now has made it easier for people to try them out. And it made people realize: Who cares where you get your toilet paper from as long as it's cheap and its decent quality?" commercial realtor and retail specialist Pete Shawaker said.