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March 7, 2021

Shopping malls

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......

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......

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......

At-home fitness company Tonal to open shops within 40 Nordstrom stores

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CNBC – For more and to sign up click here Nordstrom will be opening 40 mini Tonal shops inside its stores, beginning in March 2021. Source: Nordstrom PR Nordstrom is searching for ways to grow its active business, while it also adds more merchandise to its stores beyond dresses, shoes,......

As store owners sign more short-term leases, landlords are taking a risky bet on the future of retail

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CNBC – For more and to sign up click here Shoppers walk through the King of Prussia mall in King of Prussia, Pennsylvania. Jennah Moon | Bloomberg | Getty Images Retailers and their landlords are engaged in a high-stakes game of risk right now. And it will be a few......

Wayfair’s sales come up short, but the retailer says demand for home goods online remains strong

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CNBC – For more and to sign up click here Niraj Shah, CEO, Wayfair Ashlee Espinal | CNBC Wayfair on Thursday reported quarterly sales that fell short of analysts’ expectations. Though the online furniture retailer gained more customers during the period, they bought smaller, less-expensive items, dragging down average order......

Gap to invest $140 million to build Texas warehouse as online sales swell

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A pedestrian walks by the closed GAP flagship store on August 18, 2020 in San Francisco, California. Justin Sullivan | Getty Images Gap said Wednesday it will invest $140 million to construct a distribution center in Longview, Texas, as part of its effort to double its online business over the......

U.S. retail sales to rise 6.5% to 8.2% in 2021, as Covid vaccine triggers fastest economic growth in over two decades, NRF says

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CNBC – For more and to sign up click here Customers wearing protective masks exit a Uniqlo store in San Francisco, California, on Wednesday, Feb. 17, 2021. David Paul Morris | Bloomberg | Getty Images Retail sales are expected to grow this year between 6.5% and 8.2%, amounting to more......

Kohl’s shares soar as activist investor group looks to add 9 directors to board

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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 shares soared more than 9% in premarket trading Monday after a group of activist investors confirmed it......

Retailers trade Fifth Ave. for Worth Ave. as Palm Beach scene thrives with Americans heading South

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An aerial view over downtown West Palm Beach, where RH in December 2017 opened an 80,000-square-foot, mansion-like store with a rooftop restauratnt. Source: Indiehouse Films WEST PALM BEACH, Fla. — Retailers, restaurants and other business owners want to be where the people are. And people are moving to South Florida......

Under Armour shares rise as retailer reports unexpected profit for holiday quarter

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CNBC – For more and to sign up click here Products are displayed in an Under Armour store in New York City, November 4, 2019. Brendan McDermid | Reuters Under Armour on Wednesday reported a surprise profit for the holiday quarter as sales were boosted by strong growth at its......

CEO of America’s biggest mall owner says some retailers are excited for growth opportunities in 2021

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CNBC – For more and to sign up click here Shoppers walk through the King of Prussia mall in King of Prussia, Pennsylvania. Jennah Moon | Bloomberg | Getty Images Simon Property Group, the biggest mall owner in the country, is expecting this year to be better than last, as......

Fashion brands see sales rebounding—eventually. Europe’s murky outlook could snag growth

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CNBC – For more and to sign up click here A person walks into the Nordstrom store open for business as New York City moves into Phase 2 of re-opening following restrictions imposed to curb the coronavirus pandemic on June 29, 2020 in New York, New York. Rob Kim |......

Nordstrom shares tumble as 2021 sales outlook disappoints, retailer sees bigger shift to Rack

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CNBC – For more and to sign up click here A pedestrian and cyclist wear facemasks outside a branch of department store chain Nordstrom in Santa Monica, California on May 11, 2020. Frederic J. Brown | AFP | Getty Images Nordstrom shares tumbled Thursday as the department store chain delivered......

Some apparel retailers won the holidays by keeping inventory lean. Now comes the hard part.

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CNBC – For more and to sign up click here A person walks by a closed Banana Republic store on June 11, 2020 in San Francisco, California. Economic worries due to the coronavirus COVID-19 pandemic continue as an additional 1.5 million people filed for first-time unemployment benefits in the past......

Toys R Us’ last two stores in the U.S. are reportedly closed for good

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CNBC – For more and to sign up click here New Toys”R”Us store opens at Garden State Plaza in Paramus, New Jersey. Source: Tru Kids Brand Toys R Us has reportedly closed the only two stores it had left. The iconic toy retailer made the decision as a result of......

10,000 stores are expected to close in 2021, as pandemic continues to pummel retailers

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CNBC – For more and to sign up click here A man passes by a Banana Republic store, which is going out of business, in New York, January 10, 2021. Scott Mlyn | CNBC One retail research and advisory group is forecasting there could be as many as 10,000 store......

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