More than 82 million Instagram posts are tagged #OOTH, or outfit of the day, and many inspire criticism, signaling people need to be nicer to themselves and others, Amazon says. In a YouTube and social media campaign, the retailer urges fashion consumers to #SaySomethingNice, rather than obsess over the way people dress.
A growing number of retail chains including Macy's, Target, Old Navy and Hot Topic are joining independent merchants in touting rainbow-covered merchandise to celebrate gay pride festivities. At Minnesota gift shop The Rainbow Road, owner Jim Connelly has reordered rainbow flags three times since the mass shooting in Orlando on June 12.
Macy's named 33-year company veteran Jeff Gennette to be CEO when Terry Lundgren retires next year, instead of signing someone new to lead efforts to revive sales. Gennette, who has led the chain's website since 2012, will lead the department store as it continues to close locations and build its new off-price concept Backstage, analysts said.
More than 80% of grocery shoppers in the US put some effort into healthy eating, but only about a third put a great deal of effort into maintaining a healthy diet, according to a survey by FMI and Rodale, which presents food retailers with an opportunity to assist their customers, a panel of experts said at FMI Connect. "[R]etailers have the opportunity to help their customers find and distinguish dietary choices, offer weight management solutions and share convenient meal ideas that help feed families," said Susan Borra, FMI's chief health and wellness officer and executive director.
A delivery partnership with Amazon is boosting sales at Phoenix-based Sprouts Farmers Market, Chief Financial Officer Brad Lukow said this week. "Amazon brings the strength of its consumer volume to its site, but it's really the strength of the Sprouts brand that is resonating, so it's actually a symbiotic relationship," he said.
The value of Bitcoin jumped from $550 to $650, rising alongside the value of gold, after the announcement that Britain would leave the European Union. The pound fell 10% against the dollar following the news, the lowest value for the pound in 30 years.
Uber is rolling out an app update that will show riders exactly what their final price of a ride will be before they book it. The move will do away with the surge pricing feature that used to cause prices to jump in the middle of a ride depending on factors such as time of day, location and demand.
Best Buy's new Chief Financial Officer Corie Barry has her job cut out for her following the retirement of Sharon McCollam, who led the company's "huge cost-cutting plan," Brian Sozzi writes. Wall Street analysts seem to think positively of the 16-year Best Buy veteran. "We believe she will be a good fit to carry on what has been a very management-driven investment story," analyst Seth Sigman said.
Tourism from mainland China to Hong Kong fell 16% last year and 13% in the first four months of 2016, taking a bite out of retail sales across all price ranges. Beauty retailer Sa Sa International Holdings reported steep profit declines this week and outlined plans to close stores and renegotiate leases in tourist areas.
Jen Coleman and Laura Wiertzema run the @TargetDoesItAgain account on Instagram, posting updates on Target deals, most of them under-$20 impulse buys, to more than 500,000 followers. "They'll shop in Target with our account pulled up so they know what to look for and weed through the things that they don't want to look at and go straight to our finds," Coleman said.
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