Industry News
Multichannel Retail
Top stories summarized by our editors
8/7/2020

Dick's Sporting Goods will open 11 new stores in nine states this month under its namesake, combination Dick's and Golf Galaxy, Dick's Sporting Goods Warehouse Sale and Overtime by Dick's Sporting Goods banners, giving the retailer 839 stores in 47 states. Dick's will add about 300 full-time, part-time and temporary staffers to its payroll with the new store openings.

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Footwear News
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Sporting Goods
8/7/2020

Adidas reported a loss for the second quarter as the coronavirus pandemic caused massive store closures, but the athletic brand saw e-commerce sales grow 93% during the quarter and said revenues should recover in the third quarter. "We are now seeing the light at the end of the tunnel," CEO Kasper Rorsted said.

8/7/2020

YouTube released new insights about popular topics on its platform during the pandemic, such as home workouts and instructional videos on how to create restaurant-style meals at home. Other trends include videos on how to make face masks, museum tour videos, baking sourdough bread and how to cut hair.

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Social Media Today
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YouTube
8/7/2020

Pfizer will be producing Gilead Sciences' coronavirus-fighting drug remdesivir in a bid to turn out enough of the antiviral to treat more than 2 million patients by the end of the year. Pfizer signed a multi-year agreement for the capacity-boosting arrangement, joining a manufacturing network that Gilead says now includes more than 40 companies globally.

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Reuters
8/7/2020

ALDI is reported to be looking for computer vision and artificial intelligence startups to help itdevelop cashierless technology similar to Amazon Go. The German discount grocer is looking to partner on automatic product recognition technology and shopping apps that can offer details on dietary information and stock levels.

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Charged (UK), Forbes
8/7/2020

Work wear has been growing more casual for years and the pandemic has sped up the trend as many consumers continue to work from home. Menswear brands and other retailers that specialize in office wear have been particularly affected by the shift, and men's clothing revenue is expected to drop 13% this year and continue to decline, according to data from IBISWorld.

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USA Today
8/7/2020

Etsy has brought in new customers as shoppers have bought more online during the pandemic and saw profits grow more than 400% in the most recent quarter compared with a year ago, with the home furnishing and decor, jewelry, and apparel categories leading the way. "This is a moment when we have a chance to win the loyalty of millions of people and we're working so hard to do that," CEO Josh Silverman said.

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CNBC
8/7/2020

McDonald's is expanding its rewards programme in Canada to include fries, in an effort to offset a drop in global sales due to COVID-19. The fast food company is pushing its app, drive-thru and delivery services to help customers feel more comfortable when dining out.

8/7/2020

Convenience store GS Retail is hiring locals to make deliveries, in an attempt to leverage their knowledge of back streets and alleyways to speed deliveries. The South Korean retailer's new service is set to begin Monday at GS25 stores in the Gangnam District in Seoul.

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InsideRetail.Asia
8/7/2020

Hugo Boss has spent some of its credit line, taken out loans and requested to waive loan contract covenants as the German retailer struggles to stay afloat during the coronavirus crisis. Hugo Boss has joined other companies including Next Plc and Tiffany & Co. in seeking monetary support.

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Tiffany & Co.

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