Industry News
Multichannel Retail
Top stories summarized by our editors
7/2/2020

Almost all of Macy's stores have reopened, most with reduced hours and all with safety precautions in place, CEO Jeff Gennette said. The retailer, which reported a $3.1 billion charge in the first quarter related to the pandemic, could adjust store reopenings in some areas where the coronavirus cases are on the rise, but it doesn't expect another full shutdown, he said.

7/2/2020

Lowe's CEO Marvin Ellison grew up the son of sharecroppers and is now one of just four Black Fortune 500 CEOs, and his firsthand experience of racism has driven his commitment to create more diversity in corporate America, he said during a virtual conversation hosted by NRF. He has increased the number of Black executives at Lowe's, and urges other CEOs and companies to "talk less and do more" to fight racism and increase diversity.

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CNBC
7/2/2020

Neela Montgomery will step down as Crate & Barrel CEO effective Aug. 1, making her the retailer's third chief executive to step down in the past six years. During her tenure, she has overseen the retailer's omnichannel integration, growth of the sister brand CB2 and the creation of The Table at Crate restaurant.

7/2/2020

Fireworks sellers are reporting sales growth of up to 300% ahead of July Fourth, as consumers plan for at-home celebrations to replace canceled public displays, American Pyrotechnics Association President Julie Heckman said. Reports of fireworks in cities -- both where they're illegal and legal -- have been rising since May, when sellers kicked off summer sales.

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CNBC
7/2/2020

Mall owner Brookfield will team with Fit:Match to start installing contactless 3D body scanners at some malls this fall. The machines gauge customers' sizes in different clothing styles and brands, giving them a way to avoid fitting rooms during the pandemic.

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CNBC
7/2/2020

UK shirt retailer T.M. Lewin will permanently close all 66 of its stores and shift to an online-only model as part of a pre-pack administration proceeding. Torque Brands, a division of investment firm Stonebridge Private Equity, has acquired the brand's online business.

7/2/2020

British department stores Harrods and John Lewis announced plans for job cuts as they work to recover from pandemic-related closures. Luxury retailer Harrods will trim about 700 positions and John Lewis said some of its 50 stores won't reopen, resulting in job losses.

7/2/2020

New York City-based Shake Shack is in growth mode in mainland China, where it expects licensees to open 55 locations over the next 10 years. Licensee Maxim's Caterers Limited has units in Hong Kong and Shanghai and aims to open 15 or more new South China units.

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Shake Shack
7/2/2020

Amazon has cut all single-use plastic packaging from its fulfillment facilities in India, replacing bubble wrap and plastic tape with biodegradable alternatives. India's lack of a system for managing plastic waste led Prime Minister Narendra Modi to push for an end to single-use plastic by 2022.

7/2/2020

US factory orders in May clawed back some of the ground lost in April. The Commerce Department reported an 8% rise in orders for May after a 13.5% decline in April, although May's order total was down 10.3% from the year before.

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Reuters