Levi Strauss & Co has announced that its fiscal third-quarter sales and earnings have surpassed the projections of analysts. The news comes just as consumer demand for denim has increased thanks to students returning to school. Shoppers have been flocking to brick and mortars and online websites for their...
On Monday, Amazon launched deals in several categories akin to Black Friday bargains in hopes of drawing early holiday shoppers. Retailers have encouraged shoppers to start early as supply chain issues, inflation, and labor shortages impact the industry. Major retail companies are also concerned about gifts being delivered on...
U.S. sales last month for Detroit automaker Ford were 33.1 percent lower than last year amid a massive semiconductor chip shortage across the world. The lack of chips is devastating the automotive industry. The company’s adjusted selling rate was 13.09 million vehicle sales last month. It marked Ford’s worst...
Verizon and Mastercard have agreed to partner and offer 5G contactless payments to both consumers and businesses. The new alliance should have some of the innovations up and running by 2023 and enable the companies to digitize retail consumer spending further. Team members from both companies will work together...
According to Bloomberg, Victoria’s Secret is looking for investors who might be interested in funding a $500 million loan. The lingerie and beauty retailer wants to use the monies to fund its separation from the bath shop chain, Bath & Body Works. Both Victoria’s Secret and Bath & Body...
Luxury department store Nordstrom cites a better than anticipated first-quarter sales revenue, but the retailer is still lowering its expectations for the remainder of 2021. First-quarter sales for the Seattle-based enterprise were down by 13 percent compared to the last fiscal period of the same timeframe. The reported revenue...
On Friday, Amazon said that it would be ceasing its Prime Now fast delivery app. The e-commerce behemoth said that it would be discontinuing the stand-alone app sometime later this year. The website that hosts it will also be shut down. The fast delivery service was first launched so that...
Citigroup edged out Alliance Data Systems to offer a set of new credit cards with Wayfair. The move comes as e-commerce has taken off since COVID-19 cases exploded in the U.S., forcing Americans to shop and work from home. Online sales have been robust as fewer people...
Apple is re-closing stores in Florida and Texas as the number of COVID-19 cases rises in both states. The consumer electronics and software company also closed stores in North Carolina, Arizona, and South Carolina last week. Apple will be re-closing 14 of its stores...
Amazon has alerted its sellers that it plans to host a summer sale, beginning June 22. The sale is expected to help boost sales for sellers who had to deal with delivery delays due to priority shipments at the onset of the coronavirus pandemic. The retailer is...