Outdoor retailer REI has unveiled plans for a new 400,000-square-foot Bellevue, Wash., campus that would include public retail space and a fitness center as well as the co-op's headquarters. REI has 1,400 employees working at five offices in the area, and it aims to open the new campus in 2020.
US consumers are expected to spend about $18.4 billion on food, gifts, clothing and other items for Easter this year, 6% more than last year, according to a survey from NRF. "Most consumers have almost an entire extra month to shop for Easter this year, and by the time the holiday comes the weather should be significantly warmer than last Easter," NRF President and CEO Matthew Shay said.
Celebrities from the fashion and entertainment worlds celebrated outgoing Macy's CEO Terry Lundgren at a gala Wednesday that raised more than $4.5 million for the FIT Foundation and the University of Arizona's Terry J. Lundgren Center for Retailing. "He's always been there from the beginning of my career," designer Vera Wang said.
Amazon and Flipkart are partnering with several smartphone brands to sell their gadgets in India, and the e-commerce sites are poised to expand sales to brick-and-mortar stores, sources said. The goods and services tax set to take effect July 1 is expected to reduce the price difference between online and in-store sales.
Indian online fashion retailer Myntra will model its April sale event after flash sale sites that depend on undersupply to build demand and depend less on deep discounts. The event is part of a larger shift away from discounting and toward full-price high fashion.
Amazon has grown from a pioneering online bookseller into an e-commerce giant that commands about half of all new spending by online shoppers, leads in cloud computing and outspends HBO on television content. Shareholders have made Amazon the world's fifth-most valuable company, largely based on future profits that aren't expected to materialize until 2020 or after.
Shoppers who once regularly combed through the racks at department stores now follow trends and discover new styles through social media and online subscription services that tailor collections to customers' personal preferences. Consumers are also spending less on clothing and buying more from discounters and other types of retailers, trends that are putting growing pressure on traditional brick-and-mortar stores, analysts say.
Retailers support the American Health Care Act while recognizing it's not a perfect bill, NRF President and CEO Matthew Shay said. In this interview, he also explains the industry's concerns that a proposed border adjustment tax will raise costs for retailers and prices for consumers.
Portugal-based retailer Sonae SGPS has partnered with a division of UK-based JD Sports Fashion to expand its presence in Spain without significant capital investments. Sonae has operations in 89 countries after expanding to 17 new markets last year.
UK-based shoe retailer Brantano has entered administration for the second time in less than two years, citing changing consumer spending habits and higher costs amid the post-Brexit pound slump. Brantano operates 73 standalone stores and 64 concessions across Britain.
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