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June 12, 2021

Shopping

National Retail Federation boosts its annual forecast, expects ‘fastest growth that we’ve seen in this country since 1984’

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CNBC – For more and to sign up click here Shoppers wear protective masks inside the Glendale Galleria shopping mall in Glendale, California, on Thursday, May 6, 2021. Bing Guan | Bloomberg | Getty Images One of the country’s largest retail trade groups, the National Retail Federation, boosted the industry’s......

RH beats earnings, hikes outlook as retail rebound boosts high-end home goods; shares jump

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CNBC – For more and to sign up click here Jason Kempin | Getty Images Entertainment | Getty Images Shares of the high-end furniture retailer RH surged in extended trading Wednesday after the company beat analysts’ profit and sales estimates for the fiscal first quarter. RH also hiked its full-year......

Stitch Fix shares soar as sales top estimates, styling service raises full-year outlook

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CNBC – For more and to sign up click here The Stitch Fix application for download in the Apple App Store on a smartphone arranged in Hastings-on-Hudson, New York, U.S., on Saturday, June 5, 2021. Stitch Fix Inc. is scheduled to release earning on June 7. Tiffany Hagler-Geard | Bloomberg......

Lululemon first-quarter sales rise 88%, topping estimates, as store traffic rebounds

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CNBC – For more and to sign up click here Pedestrians wearing protective masks walk past a Lululemon store in San Francisco, California, on Monday, March 29, 2021. David Paul Morris | Bloomberg | Getty Images Lululemon Athletica said Thursday fiscal first-quarter revenue soared 88%, topping analysts’ estimates, as shopper......

Express stock tumbles after retailer announces plan to sell 15 million shares

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CNBC – For more and to sign up click here A shopper carries an Express Inc. bag while walking in the Center City neighborhood of Philadelphia Pennsylvania, U.S., on Friday, June 24, 2016. Charles Mostoller | Bloomberg | Getty Images Stock of the retailer Express tumbled more than 22% on......

Rent the Runway enters $33 billion fashion resale market as it looks to build back from pandemic lows

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CNBC – For more and to sign up click here Jennifer Hyman, Rent the Runway  Scott Mlyn | CNBC Rent the Runway said Wednesday it is expanding into resale, a major evolution for the fashion rental platform. Customers will soon be able to buy used designer clothes from the business......

Gap sales top pre-pandemic levels, as turnaround efforts gain traction, retailer raises 2021 outlook

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CNBC – For more and to sign up click here A Gap store in New York, August 2, 2020. Scott Mlyn | CNBC Gap said Thursday its fiscal first-quarter sales surpassed pre-pandemic levels, as shoppers turned to Old Navy and Athleta to refresh their wardrobes for summer. The retailer raised......

Retail conglomerate Authentic Brands Group readies for summer IPO

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CNBC – For more and to sign up click here People enter a Forever 21 store at a shopping mall in Montebello, California on September 30, 2019 a day after the fashion retailer filed for Chapter 11 bankruptcy protection. Frederic J. Brown | AFP | Getty Images The retail conglomerate......

Walmart and Gap are coming together to create an exclusive home decor brand

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CNBC – For more and to sign up click here Gap and Walmart are launching an exclusive home decor brand, Gap Home. It will launch on the big-box retailer’s website and eventually be sold at stores. Walmart Walmart has inked a multiyear deal with Gap to create a home goods......

American Eagle is the latest apparel retailer to crush estimates as teens head back to the mall

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CNBC – For more and to sign up click here A shopper wearing a protective mask walks past a sale sign at an American Eagle Outfitters Inc. clothing store at Westfield San Francisco Centre in San Francisco, California, U.S., on Thursday, June 18, 2020. Michael Short | Bloomberg | Getty......

Nordstrom shares fall as earnings and 2021 outlook disappoint

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CNBC – For more and to sign up click here Nordstrom reported Tuesday better-than-expected fiscal first-quarter sales, as shoppers showed up to its stores again to buy new shoes, sunglasses and swimwear for social outings. But its stock tumbled around 7% in extended trading as the retailer booked a wider-than-expected......

Peloton to invest $400 million to build its first U.S. manufacturing facility in Ohio

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CNBC – For more and to sign up click here Peloton said Monday it will invest $400 million to build its first factory in the United States to speed up production and delivery of its popular cycles and high-end treadmill machines. After vetting a number of locations, it selected a......

Report: Falcons Shopping Julio Jones Due to Cap Constraints

Sports Illustrated
SI – For more and to sign up click here Madeline Coleman The Falcons “would like to trade” star wide receiver Julio Jones, but it’s not a done deal or guarantee, The Athletic’s Jeff Schultz reported.  Atlanta is still facing a salary cap problem, even after restructuring contracts of four......

Kohl’s sales jump nearly 70%, soaring past estimates, retailer hikes full-year outlook

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CNBC – For more and to sign up click here Vehicles sit parked in front of a Kohl’s department store in Ashland, Ky. Luke Sharrett | Bloomberg | Getty Images Kohl’s on Thursday reported first-quarter earnings and sales that topped analysts’ estimates, and raised its outlook for the full year,......

Victoria’s Secret parent L Brands posts larger-than-expected profit as retailer sells more full-price items

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CNBC – For more and to sign up click here Shoppers pass in front of a Victoria’s Secret store at a mall in San Diego, California, April 22, 2021. Bing Guan | Bloomberg | Getty Images Victoria’s Secret parent L Brands on Wednesday reported first-quarter earnings and sales that topped......

Under Armour to raise hourly wages to $15 for more than 8,000 retail, distribution workers

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CNBC – For more and to sign up click here Shoppers pass an Under Armour store in White Plains, New York. Scott Mlyn | CNBC Under Armour announced Wednesday it is raising wages for hourly retail workers to $15 in the United States and Canada, impacting more than 8,000 jobs.......

Shopify stock pops after Google announces online shopping expansion

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CNBC – For more and to sign up click here Google CEO Sundar Pichai Google Google is deepening its partnership with Shopify by making it easier for the company’s 1.7 million merchants to reach shoppers in Google Search and across some of its other properties. The move comes as Google......

Macy’s CEO says its robust sales gains aren’t a ‘short-term pop’

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CNBC – For more and to sign up click here Jeff Gennette, CEO of Macy’s. Getty Images Macy’s said Tuesday that the huge sales gains it posted in the first quarter aren’t a fluke. “We don’t see this as a short-term pop,” Chief Executive Jeff Gennette said during an earnings......

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