Kohl's has called off negotiations with suitor Franchise Group after entering exclusive talks last month with the company, whose portfolio includes The Vitamin Shoppe. Kohl's, which fielded interest from about 25 prospective buyers before settling on Franchise Group, cited rising interest rates and market uncertainty for its decision to end talks, and said its balance sheet is healthy enough to proceed alone.
Stop overpaying for address autocomplete Retailers like Michaels and DICK'S Sporting Goods are switching to Radar for address autocomplete and address validation, saving up to 90%. Radar's address autocomplete APIs are part of Radar Maps Platform, the cost-effective, all-in-one alternative to Google Maps and Mapbox.
Costco Wholesale has paid $1.05 billion to buy the 45% of Costco-Taiwan that it didn't already own. Taiwan is home to 14 of Costco's 833 global stores and it also has e-commerce operations there.
UK fashion and home goods retailer Cath Kidston has been acquired by investment firm Hilco Capital for an undisclosed amount. The retailer closed 60 stores after entering administration two years ago and now has four standalone stores, 95 in-store shops, an e-commerce presence and a growing wholesale operation.
What technologies do retailers need to succeed? Is it generative AI? Augmented and virtual reality? Technology could be the holy grail for retail. The right tech can change the shopping experience. Register now and increase your retail acumen.
An official recession isn't likely this year, despite slowing economic growth, as unemployment remains low and payrolls grow, NRF Chief Economist Jack Kleinhenz said Thursday, in a statement that highlighted the 7.3% rise in retail sales in the first five months of the year. "Regardless of a prospect of a downturn or whether it will meet the threshold of a recession, the consumer outlook over the next few months remains favorable," Kleinhenz said.
Michaels has been transitioning from focusing on deal and discount messaging to playing up the "humanity" of the brand and relying heavily on personalized email and text marketing promoting niche crafts. In this podcast, Heather Bennett, Michaels' executive vice president of marketing and e-commerce, discusses the potential value of its new retail media network and connecting with younger consumers.
Digital video display provider Lightbox has expanded its retail media network with 2,800 supermarkets across the US with display placements strategically positioned to help advertisers connect with customers. "These are high-frequency destinations -- with American consumers going to the grocery store on average 1.9 times per week -- and the screens provide an invaluable connection point for advertisers to reach audiences in brand-safe environments," CEO Greg Glenday said in a statement.
NFTs, social commerce, Web3 and the metaverse have the power to change the way we live and the way we shop and spend. Businesses are innovating ways to enhance the consumer experience through the digital world, creating a new market for retailers to find success. Learn more at NRF Nexus this July.
The future of retail relies on sustainable supply chains. At NRF Supply Chain 360, American Eagle Outfitters Chief Supply Chain Officer Shekar Natarajan introduced its consolidated delivery network that has the potential to revolutionize the supply chain and encourage long-term success and cohesion for retailers. Read more.
McDonald's has created a virtual summer camp for its mobile app users that will offer daily perks such as food and beverage discounts starting July 5 and running through July 27. "Camp McDonald's" is designed to court Gen Z with virtual Sunday concerts with artists including Kid Cudi and Omar Apollo, as well as merchandise deals such as the limited-edition Retro Grimace Pool Float.
