Walmart CEO sees room to grow in e-commerce | Report: Retail sales rose 3.1% in the first 10 months of 2019 | NRF's calculation, which excludes car dealers, gas stations and restaurants, found that sales for October were up 0.2% from September and up 4.2% year over year. Read more.
Walmart's 41% rise in e-commerce sales in the third quarter was a positive sign, but the retailer still has room to grow further into online retail, CEO Doug McMillon said. "Our strength is being driven by food, which is good, but we need even more progress on Walmart.com with general merchandise," he said.
US retail sales rose 0.3% in October from the previous month and sales in the first 10 months of the year were up 3.1% over the same period in 2018, according to the Commerce Department. Auto and fuel sales led the October increase, and consumers cut back on spending on apparel and big-ticket purchases.
Walmart has promoted executive Kathryn McLay to CEO and president of Sam's Club effective today, according to a regulatory filing. McLay, who succeeds Greg Foran, has worked in several roles since joining the retailer in 2015, most recently as executive vice president of Walmart US Neighborhood Markets.
Saks Fifth Avenue has partnered with Disney to promote the upcoming film "Frozen 2" with a holiday window display at Saks' New York City flagship. Six windows will feature vignettes from the movie, and the partnership also features exclusive products and an in-store experience replicating the enchanted forest from the film.
Amazon has yet to disclose details on its plans for a new grocery concept set to launch in Los Angeles next year, which has industry watchers speculating. Some guess the spaces will double as fulfillment centers with robots quickly picking and packing orders while others guess the format could be more like no-frills, low-priced German grocery chain Lidl.
REI's mission to encourage a passion for the outdoors inspired the retailer's #OptOutside campaign that keeps its stores closed on Black Friday. The profitable co-op manages to pay dividends to its owners and donate more than 70% of its profits to outdoor causes, and its eco-friendly philosophy has it expanding its rental and used-gear offerings.
A strong economy and low unemployment has retailers optimistic about the upcoming start of the holiday shopping season, despite changing consumer shopping habits and US-China trade tensions. NRF is forecasting a holiday sales increase of between 3.8% and 4.2%, compared to a 2.1% increase in 2018.
Nike is taking a tech-driven approach as it focuses on growing direct retail sales and lessening its dependence on other retailers. The newest Nike stores integrate consumer-facing apps that also inform management's efforts to stock shelves with in-demand items.
Retailers are preparing for one of the busiest shopping weekends of the year with an estimated 165.3 million people likely to shop Thanksgiving Day through Cyber Monday, according to the annual survey released today by NRF and Prosper Insights & Analytics. Younger consumers are significantly more likely to shop over the holiday weekend. Learn more.
NRF 2020 Vision: Retail's Big Show will be held in New York City Jan. 12-14. The retail industry's biggest event, NRF 2020 is where retail visionaries will meet to set their course for the year and beyond. Retailers save $200 if they register by today. Register now.
Quiznos will launch a test today of plant-based corned beef from Mrs. Goldfarb's Unreal Deli in the Denver market. The new sandwich will be made with Swiss cheese, sauerkraut, pickles and French dressing.
