Frasers Group is shutting down luxury ecommerce site Matchesfashion just three months after acquiring the business, saying in a statement that “continued funding requirements would be far in excess of amounts that the Group considers to be viable.” As a result, Matches has been put into administration, the UK equivalent of bankruptcy. Since rebranding from…
Off-price retailer Burlington Stores beat expectations for Q4 2023 (the 14 weeks ended Feb. 3, 2024), with total sales increasing 10% and comparable store sales growing 2% year over year. The quarter closed out a steady year for the chain, with comp store sales up 4% in fiscal 2023, although on an earnings call discussing…
Discount supermarket retailer Lidl U.S. has named four executives with extensive retail experience to top posts, including naming Frank Kerr as the company’s first-ever Chief Customer Officer. Kerr is returning for a second stint at Lidl U.S., where he was one of the first 50 employees, and he’ll be responsible for driving a holistic customer…
By David S. Bauders, CEO SPARXiQ Winning Contractor Business: A Guide for Distributors Mark Twain’s famous saying, “It ain’t what you don’t know that gets you in trouble; it’s what you know for sure that just ain’t so,” perfectly captures the challenge faced by distributors serving the construction industry. Understanding the true drivers behind contractor…
Abercrombie & Fitch has launched “The A&F Wedding Shop” both online and in stores. The collection of more than 100 items for brides, bachelorettes and guests has been designed not just for the wedding itself but also for wedding-related events and celebrations. “The A&F Wedding Shop’s pieces collectively tell the story of the modern wedding…
Discount grocer Aldi will invest more than $9 billion over the next five years on its national expansion plan, which includes adding 800 stores to its U.S. fleet by the end of 2028. To reach that number, the value-priced retailer will use a combination of new store openings and conversions of stores purchased as part…
Michaels has launched a new brand campaign and in-store selling activation to shine a spotlight on its MakerPlace by Michaels online marketplace. MakerPlace by Michaels was designed to be an Etsy challenger of sorts, creating a space for “makers” to connect with shoppers and sell their handmade goods. It also serves as a destination for…
Nestled among its Q4 2023 earnings was the news that Nordstrom plans to add a third-party marketplace to the Nordstrom.com website in April. “By reimagining the way we work with our brand partners, we’ll grow our curated online assortment to serve more customers on even more occasions through increasing our use of unowned inventory,” said…
Beyond, Inc. — parent company of Bed Bath & Beyond and Overstock.com — has acquired the intellectual property of defunct flash-sale retailer Zulily, following that platform’s abrupt wind-down of its business in late 2023. Newly appointed Beyond, Inc. Executive Chairman Marcus Lemonis said the acquisition is aimed at strengthening Beyond’s position in the off-price market. Beyond paid $4.5 million in…
In only its second full year as a public company, Warby Parker generated net revenue of $71.7 million in 2023, 12% higher than the $669.8 million generated in 2022. Additionally, the eyewear retailer increased average revenue per customer 9.3% in 2023, to $287, and boosted its number of active customers 2.5%, to 2.33 million. Warby…
