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March 6, 2021

Retail industry

Virginia gets close to legalizing recreational weed as other states eye cannabis tax windfalls

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CNBC – For more and to sign up click here A customer lights a joint at Lowell Farms, America’s first official Cannabis Cafe offering farm-to-table dining and smoking of cannabis in West Hollywood, California, October 1, 2019. Mike Blake | Reuters Virginia is close to becoming the first Southern state......

Saks Fifth Avenue owner spins e-commerce site into separate business

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CNBC – For more and to sign up click here As department stores like Saks Fifth Avenue try to get shoppers back into stores after the Covid-19 pandemic shutdowns, the shift to online sales may continue to accelerate thanks to personalization technology. Richard Lautens | Toronto Star | Getty Images......

Gap forecasts return to sales growth in 2021, sending shares higher despite sales miss

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CNBC – For more and to sign up click here A man walks past a store on January 12, 2021 in New York City. Angela Weiss | AFP | Getty Images Gap Inc. on Thursday predicted a bounce back to sales growth in 2021, hopeful that customers will soon return......

Bed Bath & Beyond CEO Mark Tritton says shoppers are ready to try new brands in a hunt for value

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CNBC – For more and to sign up click here Bed Bath & Beyond Chief Executive Mark Tritton says shoppers are increasingly skipping the national brand names and looking to try private labels, which are often less expensive. “In 2020 alone, we’ve seen a migration to owned brands across the......

Heavily shorted Tanger Outlet stock pops 20% in sudden move

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CNBC – For more and to sign up click here Tanger Outlets in National Harbor, Md. Mark Gail | For The Washington Post | Getty Images Shares of Tanger Factory Outlet Centers surged 20% in early trading on Thursday, becoming the latest heavily shorted stock to make a rapid move......

Chipotle will link executive compensation to environmental and diversity goals

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CNBC – For more and to sign up click here Brian Niccol, CEO of Chipotle Mexican Grill Adam Jeffery | CNBC Chipotle Mexican Grill said Thursday that executive compensation will now be linked to hitting targets tied to the company’s environmental and diversity goals. The burrito chain is following in......

Walmart says it will support U.S. manufacturers with $350 billion of added business

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CNBC – For more and to sign up click here A worker delivers groceries to a customer’s vehicle outside a Walmart Inc. store in Amsterdam, New York, on Friday, May 15, 2020. Angus Mordant | Bloomberg via Getty Images Walmart said Wednesday that it plans to back American manufacturers by......

Canopy leveraging Constellation relationship to bring CBD-infused drink to U.S. stores

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CNBC – For more and to sign up click here Canopy Growth on Tuesday began U.S. online sales of Quatreau, the Canadian cannabis producer’s CBD-infused sparkling water. Canopy CEO David Klein in an interview on CNBC said the company would leverage its relationship with Constellation Brands, the beer, wine, and......

Nordstrom shares fall as shipping delays boost retailer’s inventory heading into 2021

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CNBC – For more and to sign up click here The Nordstrom sign is seen on the front of the company’s flagship store in Seattle. The luxury retailer is expected to report its first quarter earnings soon. Due to the COVID-19 pandemic, many of the company’s locations are closed. Toby......

How much I overpaid by living off bitcoin for a week

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CNBC – For more and to sign up click here Four years ago, I attempted to live off bitcoin for a week and failed. It was too hard to find businesses that would accept it as a form of payment. Bitcoin was trading in the $2,500 range at the time......

Kohl’s says it has no plans to sell more real estate and lease it back. Here’s why

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CNBC – For more and to sign up click here A view outside a Kohl’s store in Miramar, Florida. Johnny Louis | Getty Images Kohl’s said Tuesday that it isn’t planning to sell any of its real estate to then lease back, despite a group of activists pressuring the company......

Target to invest $4 billion to speed new stores and remodels, expand ability to fill online orders

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CNBC – For more and to sign up click here A person wearing a protective mask walks past a Target Corp. store at the Grossmont Center Mall in La Mesa, California, U.S., on Thursday, Feb. 11, 2021. Bing Guan | Bloomberg | Getty Images Target said Tuesday that it hopes......

Kohl’s says it added 2 million new customers in 2020, thanks to Amazon

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CNBC – For more and to sign up click here Amazon.com Inc. parking signage stands outside a Kohl’s Corp. department store in Huntington Beach, California, U.S., on Saturday, May 11, 2019. Kyle Grillot | Bloomberg | Getty Images Kohl’s said it added at least 2 million new customers last year......

Kohl’s shares rise after retailer posts better-than-expected earnings, sees sales growth in 2021

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CNBC – For more and to sign up click here Customers leave a Kohl’s store on November 12, 2015 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images Kohl’s on Tuesday reported fourth-quarter earnings and sales that topped analysts’ estimates, and pointed to stronger growth in......

Target is set to report earnings before the bell. Here’s what the Street expects

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CNBC – For more and to sign up click here People exit Target store in Midtown Manhattan on August 19, 2020 in New York. Eduardo Munoz Alvarez | Corbis News | Getty Images Target will report its fourth-quarter earnings before the bell on Tuesday, as it tries to sustain gains......

The value trade is running ‘way too far and way too fast’ for this stage of the reopening, PNC strategist says

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CNBC – For more and to sign up click here The major indexes may be kicking off the month in rally mode, but PNC Financial’s Amanda Agati sees trouble under the hood. She believes the rotation into economically sensitive market groups from stay-at-home plays is overdone. “The value side of......

Nike’s North American head Ann Hebert resigns after report reveals ties to a sneaker resale biz

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CNBC – For more and to sign up click here Seen through a store window, a Nike employee stands in the entryway of the Nike SoHo store in New York City. Drew Angerer | Getty Images Nike said Monday that the vice president and general manager of its North America......

Macy’s Operating Chief Harper to depart, the post will remain vacant amid other leadership changes

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CNBC – For more and to sign up click here Macy’s Herald Square Flagship Department Store in Midtown Manhattan New York. Nicolas Economou | NurPhoto | Getty Images Macy’s announced Monday a number of management changes as the department store looks to overhaul its business and woo back customers who......

FTC asks five e-cigarette firms, including Juul, to turn over more sales and advertising data

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CNBC – For more and to sign up click here Nick Gregory, a 26-year-old manager, vapes on a JUUL at Botany Bay in Lexington, Ky. Charles Bertram | Tribune News Service | Getty Images The Federal Trade Commission said Monday that it requested five e-cigarette makers provide the agency with......

Walmart nabs Goldman Sachs bankers to help lead its new fintech start-up

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CNBC – For more and to sign up click here Cars drive past a Walmart store in Washington, DC, on August 18, 2020. Nicholas Kamm | AFP | Getty Images Walmart has nabbed two veteran bankers from Goldman Sachs to help spearhead its new fintech start-up, as the company looks......

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