Macy’s, Inc. is laying off 13% of its corporate workforce, amounting to approximately 2,350 jobs, and plans to close five stores as incoming CEO Tony Spring prepares to take the reins. The cuts are part of a new strategy that Spring will implement when he takes over from current CEO Jeff Gennette next month, multiple…
Saks Fifth Avenue wasn’t always known by that name. As CEO Marc Metrick pointed out, in its early days, when it was based in NYC’s Herald Square neighborhood, the company was simply known as Saks. It wasn’t until 1924, when the store moved uptown to its now iconic location on 50th Street, that “Fifth Avenue”…
Put mildly, it has been a challenging few years for retailers. A historic pandemic with a double-whammy of supply chain and staffing issues as well as persistently high levels of inflation have up-ended a lot of industry norms and pushed consumers to increasing their scrutiny on where and how much they spend. Interestingly, coming off…
Discover the exciting future of retail as we delve into the latest trends and innovations that will shape the industry in 2024, as seen at the National Retail Federation (NRF) Big Show in Manhattan last week.
Actress, producer and TV personality Drew Barrymore can certainly afford premium kitchen and home items — and she often looks to them for her personal inspiration — but she shies away from paying premium prices. She’s also well aware that many others don’t have the option of paying top dollar for a knife or a…
Luxury resale marketplace The RealReal has partnered with digital ID platform Eon and joined its Eon Exchange, an ecosystem of integrated apps, partners and services. Through this integration, The RealReal hopes to streamline the process of consigning items on its marketplace. Owners of luxury fashion items from Eon’s network of brand partners will be able to scan…
Ikea, which debuted its Plan and Order Point store format in Dallas in November 2023, will add four additional locations this year, with more to follow. Smaller than traditional Ikea brick-and-mortar locations, these stores offer design consultations and serve as customer pickup points. The new Ikea stores will be located in Austin, Texas (scheduled for…
PawWire, the latest B2B2C platform from The Wires, offers pet owners a panoply of products from around the world presented as part of a personalized shopping experience. Each time customers open the app they can view a curated selection of brands in “The Edit” section. Users swipe to either “like” or “pass” on new brands…
The relationship between dogs and humans can be traced as far back as 30,000 years ago. But our four-legged friends no longer help us hunt, and instead we send them Valentine’s cards (Moonpig reported a 30% year on year increase this year). Pets have never had a bigger role in our lives. Not only are…
Gauging your wholesale business’ success is crucial for your long-term sustainability. After all, knowing where you are in terms of your goals can inform where you should invest your valuable resources and efforts. This is where B2B metrics and KPIs come in! Tracking relevant B2B metrics gives you valuable insights into customer behavior, operational efficiency,…
