L Brands, owner of the lingerie chain, announced Wednesday plans to close 53 Victoria’s Secrets stores in North America this year, more than three times the 15 it has historically closed in an average year. Victoria’s Secret square footage in North America will drop by about 3 percent with this latest round of store closures. A weak…
The pop-up industry was valued at $50 billion in 2016, and it will only continue to grow as more brands discover the strategy as a way to experiment and innovate. The success of the pop-up shop is no mystery. Brands use pop-ups to dip their toes into new geographic markets without fully committing to a…
Foot Locker announced Tuesday that it's investing $12.5 million in New York City-based children's apparel brand Rockets of Awesome, according to CNBC. The athletic footwear retailer will open Rockets of Awesome clothing shops within Kids Foot Locker locations, making it the largest retailer of the children's brand's products in the U.S. In addition, Foot Locker will…
Mall tenants stand at a turning point in the retail industry: evolve and thrive, or stand to be replaced with a quicker shopping experience online. While The Wall Street Journal reports that 9.1 percent of malls stand vacant — a seven-year high — Class A malls that are transforming are thriving. Culturally, younger generations are…
Despite reports that retail spaces are closing at a record pace, brick-and-mortar remains a key way for retailers to engage customers.
Following a successful holiday season in 2018, the retail industry was immediately shaken by the longest-lasting government shutdown in U.S. history. Initially, some thought the impact would only affect the first financial quarter, however, as the shutdown lingered, the impact could be felt through the rest of 2019. The federal government shutdown cost the economy…
The holiday season is the busiest time of year for retailers, when amidst all the festivities and cheer, consumers are spending big. In 2018, the National Retail Federation forecast consumers would spend an average of $1,007 on decorations, candy, gifts, and more. However, the end of the year is also a critical time for retailers because…
In this episode of Retail Right Now, Joe Keenan analyzes the quasi rebirth of iconic retailer Toys"R"Us under new parent company, Tru Kids Inc. What impact does this have on other toy retailers, as well as other companies that invested more heavily in the product category after the fall of Toys”R”Us, such as Target, Walmart, and…
Barneys New York is launching a cannabis shop in California called The High End, reports Forbes. The "cannabis lifestyle" store will open in March inside an existing Barneys Beverly Hills location. More cannabis stores are expected to appear in Barneys locations across California. The Beverly Hills store will feature an exclusive partnership with luxury cannabis…
In an effort to better connect its remote brick-and-mortar employees with company headquarters, beauty retailer Lush Cosmetics recently introduced a communication and workflow platform for its store associates and managers. The app-based platform is used as a vehicle for daily communications between the company's executives and its front-line staff in its stores. Lush uses the…