Friday, February 26, 2021

Victoria's Secret to close as many as 50 more stores this year

Retail Dive
L Brands on Wednesday reported that fourth quarter net sales rose 2.4% to $4.82 billion as comps rose 10% (up 22% at Bath & Body Works and down 3% at Victoria's Secret). E-commerce at Bath & Body Works rose 74% and at Victoria's Secret rose 33%, according to a company press release. . . . more

Sephora to open 60-plus freestanding U.S. stores in 2021

Sephora is embarking on the largest store expansion plan in its 21-year history in the United States. . . . more

Tuesday, February 23, 2021

Macy’s posts first profitable quarter in a year on strong holiday, digital sales

Macy’s Inc. ended a year of “unprecedented disruption” on a very upbeat note, topping Street estimates and reporting quarterly sales improvements across all three of its brands. . . . more

Monday, February 22, 2021

Massachusetts to open 2 more mass vaccination sites

Westport News
Massachusetts is opening two additional mass vaccination sites this month, in Natick and Dartmouth, as the state ramps up its effort to distribute the COVID-19 vaccine, Gov. Charlie Baker said Wednesday. . . . more

Friday, February 19, 2021

Why mall landlord Westfield is leaving the US

In the U.S., an increasing number of retailers have decided to leave the traditional mall. Now one mall owner, Unibail-Rodamco-Westfield, is leaving the U.S. . . . more

Tuesday, February 16, 2021

Wednesday, February 10, 2021

Simon CEO: The suburbs will be ‘hot’

A big change coming out of the pandemic will be the shift from urbanization to suburban growth. . . more

Monday, February 8, 2021

Friday, February 5, 2021

Sears is closing 13 more stores, further shrinking its footprint

Retail Dive
Transformco, the owner of the Sears and Kmart banners, is moving to close more stores after years of steady retrenchment. . . . mor

Nordstrom long-term growth strategy focuses on smaller-format stores, Rack and digital

Nordstrom expects its revenue to grow more than 25% in 2021, with digital claiming approximately 50% of total sales. . . . more

Thursday, February 4, 2021

For Neiman, Saks, Nordstrom the retail battle is getting more personal

Personal shopping services once reserved for the wealthiest consumers are becoming increasingly popular amid the pandemic as high-end retailers shift online and consumers make more retail purchases from home. . . . more

L Brands on hunt for new CFO; to complete separation of brands by August

A 20-year veteran of L Brands is retiring but will remain long enough to see the company separate its two brands — Victoria’s Secret and Bath & Body Works — by this summer. . . more

Wednesday, February 3, 2021

What 2021 means for sports marketing — and how Foot Locker's approaching it now

Retail Dive
The athletics market has been crowned one of the winners of the pandemic, but the picture is more complicated than that narrative suggests. According to a joint report from McKinsey & Company and the World Federation Sporting Goods Industry, the global sporting goods market contracted in 2020 for the first time since the financial crisis. . . . more

GameStop's stock exploded, but traffic to its stores is still down

Retail Dive
GameStop's stock has famously exploded over the past two weeks or so. At the video game retailer's stores, however, the company's challenges continue. . . . more

Tuesday, February 2, 2021

Do malls have any business getting into retail?

Retail Dive
In the past several months, continuing a practice begun with the 2016 acquisition of teen apparel retailer Aeropostale, Simon Property Group acquired a slew of retailers. In a way, bankruptcy courts last year served as shopping centers of a sort themselves. Simon, in partnership with licensing and brand management firm Authentic Brands Group (via their 50/50 joint venture, Sparc), bought Lucky Brand and Brooks Brothers; earlier in the year, with rival Brookfield, they bought Forever 21. At the end of the year, Brookfield and Simon snapped up J.C. Penney for a cash payment of $692 million and new term debt. . . more

Britain’s JD Sports in $495 million deal to buy another U.S. retailer

JD Sports, the owner of The Finish Line, continues to expand its U.S. retail portfolio. . . more 

Monday, February 1, 2021

H&M Q4 Profit Declines, Online Sales Climb; To Close 350 Stores In FY21

Plain Vanilla Shell
Swedish retailer Hennes & Mauritz AB or H&M Group (HNNMY.PK, HMRZF.PK, HEN.L) reported Friday that its fourth-quarter profit after tax fell to 2.49 billion Swedish kronor from 4.21 billion kronor. Earnings per share were 1.50 kronor, lower than 2.54 kronor a year ago. . . . more