A growing number of retailers have launched online marketplaces that feature products and advertising from third-party brands. Hudson's Bay Co., Lands' End, Kroger and Urban Outfitters are among the companies looking to marketplaces to drive revenue and stay competitive.
Ingka Group, the Netherlands-based owner of the lion's share of global IKEA stores, will acquire a 49% stake in eight solar energy projects in Russia for $272 million. The projects will generate enough energy to power Russia's 17 IKEA stores and 14 MEGA shopping centres that are owned by IKEA.
Fashion retailer Monsoon has unveiled a new boutique format in London, the first of 30 planned new stores in the UK and Ireland. "We are committed to retail, the experience and joy it can bring, and are really excited to see stores reopen, to welcome our customers back and to introduce them to our new boutique," founder Peter Simon said.
The surge in e-commerce during the pandemic illustrates the need for brick-and-mortar stores to innovate and create new experiences that make shoppers want to return. Some retailers are using in-store popups to keep stores fresh, including Stella McCartney, which has created space in its London flagship to showcase local merchants.
Factory production rose 2.7% last month after declining by 3.7% in February, while overall industrial production also reversed a February decline, according to the Federal Reserve. Manufacturing capacity utilization for the month was 73.8%, up 1.9 points.
Companies that grant privileged access to suppliers, contractors and partners risk unauthorized disclosures, leaking confidential information and danger to physical assets, writes Peter Fretty. "Manufacturers need a mindset of zero trust unless it's consistently proven that they should be trusted," says David Pignolet, CEO of SecZetta.
The manufacturing industry should adopt newer digital tools to retain talent and attract younger workers, writes Parsable CEO Lawrence Whittle. "Connected-worker tools can eliminate isolation while improving all aspects of safety, quality and productivity," Whittle writes.
Kimco Realty Corp. is purchasing Weingarten Realty Investors in a $3.87 billion dollar deal that gives Kimco 559 open-air shopping centers. Kroger, Walmart and Ross are among the company's tenants.
The Tabani Group purchased the North Texas' McKinney Marketplace and a piece of land. The shopping center is 96% leased and includes Kohls, Cato and Dollar Tree.
Signet Jewelers Ltd, which owns Jared, Kay Jewelers and Zales, plans to close 100 more stores this year after shuttering 395 mostly mall stores last year. Company officials say they are aiming for a $9 billion sales boost through e-commerce and in-store services.