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☆ Five moves Walmart is making to overhaul its business for the future
▼ + stars: | 2024-02-19 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +7 min

New York CNN —Walmart, the global mega-retailer that began in Arkansas in 1962, is making huge moves in 2024. It’s making investments in technology and inventory that move it into new businesses and which will alter the Walmart experience of many customers. Stock splitThe mega-retailer announced a 3-for-1 stock split that takes effect this week. A stock split means a single share gets split into multiple shares. Under the plan Walmart announced, people who own shares by close of business on February 22 will get two additional new shares of Walmart for every share they own.

Persons: Doug McMillon, Jeffries, “, ”, McMillon, Burt Flickinger, Blake Droesch, CNN’s Parija Kavilanz, Nathaniel Meyersohn, Elisabeth Buchwald, Alicia Wallace Organizations: New, New York CNN, Walmart, ”, Labor, Consumer, Microsoft, Strategic Resource, CNN, Costco, Telsey Group, Target, Intelligence, FactSet Locations: New York, Arkansas, Las Vegas

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsNEW YORK, Nov 2 (Reuters) - Amazon.com Inc (AMZN.O) punished its own sellers to limit Walmart's reach as Walmart got into e-commerce, according to the Federal Trade Commission (FTC). Like Amazon, Walmart operates a third-party online marketplace, with merchandise from thousands of independent sellers. This, Amazon realized, could result in sellers passing on those savings to customers, the FTC said. To hamstring Jet.com, Amazon removed some third-party sellers' offers from its Buy Box. Amazon spokesperson Tim Doyle said the FTC "grossly mischaracterizes" the pricing tool and the company stopped using it several years ago.

Persons: Gonzalo Fuentes, it's, Burt Flickinger, Jet.com, Tim Doyle, Siddharth Cavale, Vanessa O'Connell, Lisa Shumaker Organizations: Viva Technology, Porte de, REUTERS, Amazon.com Inc, Walmart, Federal Trade Commission, Jet.com, Amazon, FTC, Jet, Thomson Locations: Paris, France, New York

☆ Target citing crime for closing stores shows retailers are fighting an uphill battle
▼ + stars: | 2023-09-27 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +7 min

Industry experts say even a small increase in crime can have massive, cascading effects that cause retailers to close stores. And stolen items can have an outsized impact on store profitability, considering the razor thin profit margins many large retailers typically operate at. “Increasing store crime is another variable in play right now for retailers,” said Zak Stambor, senior retail & ecommerce analyst with Insider Intelligence. Organized retail crimeAt issue is a particular type of store theft that loss prevention experts classify as “organized retail crime” or ORC. Last month, Dick’s Sporting Goods warned that retail theft was damaging its business and would lead to lower annual profits.

Persons: New York CNN —, ”, Burt Flickinger, Zak Stambor, Jane Roh, Shawn Kelly, TJ, they’re, Read Hayes, criminologist, ” Stambor, Hayes, “ Organizations: New, New York CNN, Strategic Resource, Insider Intelligence, eBay, Facebook, Pennsylvania Liquor Control, Police, CNN, Philadelphia, Attorney’s Office, “, GS, Cheltenham Plaza, Pennsylvania Liquor Control Board, Dick’s Sporting Goods, TJX Companies, TJ Maxx, Goods, Nordstrom, Foods, University of Florida, Prevention Research Council, Walmart, Target, National Retail Federation, ”, Walgreens Locations: New York, Los Angeles, Chicago, Philadelphia, Cheltenham, Wyncote, Montgomery County, San Francisco

☆ Why retail theft is soaring: inflation, the economy – and opportunity
▼ + stars: | 2023-05-23 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +7 min

But as economic fears grow amid inflation and rising borrowing costs, shoplifting often comes with the territory, industry watchers say. Need and opportunity become forceful catalysts for driving up incidents of retail crime, experts said. He described two types of store theft plaguing retailers currently. “This is organized retail crime. “What’s happening in the overall economy matters when you analyze retail crime overall, but also what is happening more locally, in towns and neighborhoods,” said Hayes.

Persons: Nordstrom, can’t, ”, Read Hayes, criminologist, Hayes, Burt Flickinger, “, Mark Cohen, Cohen, Brian Cornell, Cornell, ” Cornell, that’s, Doug McMillon Organizations: New, New York CNN —, Foods, University of Florida, Prevention Research Council, Walmart, Target, Strategic Resource, Gallup, Columbia Business School, National Retail Federation, CNN, ” Walmart, CNBC Locations: New York, San Francisco, Target

☆ Etsy launches wedding registry service for handmade gifts in wake of Bed Bath & Beyond bankruptcy
▼ + stars: | 2023-05-10 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

Etsy launched a wedding registry service Wednesday. The move comes as some stores roll back wedding registry services and on the heels of Bed Bath & Beyond's bankruptcy. In conjunction with the launch of the registry service, Etsy published several blog posts outlining popular wedding trends and gift ideas. Personalized wedding and bridal gifts have long been popular on Etsy and frequently showcased in gift guides. Other recent retail closures, restructurings, and bankruptcy filings from companies like JCPenney, Lord & Taylor, Barneys, and Neiman Marcus have also impacted the registry market, retail expert Burt Flickinger told CNN.

☆ Etsy is wasting no time jumping into the wedding registry business
▼ + stars: | 2023-05-10 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

While Bed Bath and Beyond and its popular wedding registry service teeter on the edge, Etsy is stepping in to fill any potential void. Etsy announced on Wednesday that the online marketplace for handcrafted items is launching its own wedding registry. In addition to selecting registry items from Etsy’s vast offerings of handmade and vintage items, the company said the Etsy Registry will also provide couples with a personalization service for nuptial-related paraphernalia, such as wedding decor and bridal party items. “So, launching Etsy Registry was a natural next step,” she said. Etsy has launched its own wedding registry called Etsy Registry.

☆ Got a stash of Bed Bath & Beyond coupons? You'd better use them soon
▼ + stars: | 2023-04-23 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +4 min

Bed Bath & Beyond said it would sell off its merchandise and then go out of business. Instead, Bed Bath & Beyond expects to offer “deep discounts” on its products as part of its going-out-of-business sales. Bed Bath & Beyond, a staple of wedding registries for years, said customers who registered with Bed Bath & Beyond will eventually have their information transferred to a competitor’s service, where guests can purchase similar items. With stores closed for months, and consumers rethinking their nonessential purchases, Bed Bath & Beyond sales and profit took a hit. Now that the company is going through a liquidation process, Bed Bath & Beyond said it’s the end of the road for the coupons.

☆ Adidas says dropping Kanye West could cost it more than $1 billion in sales
▼ + stars: | 2023-02-10 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Adidas’ breakup with Ye, formerly known as Kanye West, is a pricey one. The company warned Thursday that it’s expected to lose $1.3 billion (1.2 billion euro) in revenue this year because it’s unable to sell the designer’s Yeezy clothing and shoes. Adidas said selling the sneakers under its own branding would save the company about $300 million in royalty payments and marketing fees. Other options including destroying it or donating unsold Yeezy clothing. Adidas said it also expects “one-off costs” of $213 million (200 million euro) because of a “strategic review” the company is currently undergoing.

"Because the consumer is now under more pressure, and Walmart is under pressure, that sets up a dynamic where there's probably not a lot of pricing going forward." The clout Walmart holds over suppliers also means that Walmart would likely get the lowest percentage of any price hikes manufacturers implement, according to investors who track the company. In 2018, Walmart pulled Campbell Soup Co's (CPB.N) products during the key winter season over a dispute over prices and shelf space promotion. At the time, Tesco labeled Heinz's price hikes as "unjustifiable." After raising prices four times in 2022, he said, Clorox doesn't "have any additional plans" to hike prices this year.

☆ Your 'Big Blue' Bed Bath & Beyond coupons could be useless soon – so you'd better use them
▼ + stars: | 2023-01-07 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

A Chapter 7 bankruptcy filing would mean the company's famous "Big Blue" coupons would be useless. If Bed Bath & Beyond moves forward, iconic big blue coupon program would come to an end, but there's still a chance to shop for deals. "If Bed Bath & Beyond files for bankruptcy, the retailer might honor the 20% coupons for a 30-day period. The "Big Blue" coupons became recognizable for their uniquely huge sizes, but the retailer scaled back its savings program after business slowed in 2020, The New York Times reported. If you're planning one last use out of your coupons, supplies may not last at your local Bed Bath & Beyond.

☆ Bed Bath & Beyond says its days are numbered. The same might be true for its big blue 20% coupons
▼ + stars: | 2023-01-06 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +4 min

New York CNN —Bed Bath & Beyond coupon shoppers take note: If you have a stash of its big blue 20% off coupons in your drawer or in your inbox, better use them soon. “If Bed Bath & Beyond files for bankruptcy, the retailer might honor the 20% coupons for a 30-day period. Big Blue became a company iconBed Bath & Beyond introduced its oversized coupon for 20% off a single item three decades ago. Rumors swirled on various social platforms that Big Blue coupons never expire, even though the weekly coupon does feature an expiration date. With stores closed for months, and consumers rethinking their non-essential purchases, Bed Bath & Beyond sales and profit took a hit.

☆ Don’t want that item? Returning it could cost you
▼ + stars: | 2022-12-27 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

It could cost you to return it online. Shoppers have become accustomed to free shipping and free returns in recent years, but Zara, H&M, J.Crew, Anthropologie, Abercrombie & Fitch and other chains are now slapping on fees of up to $7 to return items online. That’s a strain on retailers: For every $1 billion in sales, the average retailer incurs $165 million in merchandise returns, according to the NRF. Charging customers for online returns is just one of the ways retailers are trying to crack down on the cost of returns and prevent clothes from piling up in warehouses. Others are mulling a “returnless refund” policy, where they hand customers their money back and let them keep or donate items they don’t want.

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Others, like Target (TGT.N) and Barnes & Noble, sealed merchandise behind plexiglass or tethered it with steel cables to store shelves. One survey by the National Retail Federation (NRF) cited a 26.5% jump last year in "organized retail crime" carried out by groups of people. But it is unclear whether overall U.S. retail crime is on the rise, with little data available on the problem. Retailers rarely openly acknowledge the threat of theft or crime because they generally don't want to spook shoppers. "Along with other retailers, we've seen a significant increase in theft and organized retail crime across our business," Target CEO Brian Cornell told investors on a November 16 conference call.

☆ Gap's slowing sales of baby clothes indicate inflation is deeply hurting families
▼ + stars: | 2022-11-18 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +4 min

New York CNN Business —Customers are pulling back on spending at Gap and Old Navy — particularly in one specific category that shows just how much families are feeling inflation’s pinch. But Gap and Old Navy said Thursday they’re now seeing less spending on babies’ and kids’ items. “Old Navy customers still have a propensity to buy. More than a quarter said inflation motivated those purchases, and half of parents surveyed sold a secondhand item in the kids’ and baby items category. Mercari said parents of kids 2 and under are the most active secondhand shoppers, according to its survey.

☆ Kanye West's unsold Yeezy merchandise: Where will it all go?
▼ + stars: | 2022-10-27 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +4 min

New York CNNBusiness —Yeezy merchandise has no place to go. So where will the mounting glut of Yeezy products — sneakers, sweatshirts, sweatpants, jackets, T-shirts, bags — wind up? Morningstar analyst David Swartz said Gap will probably have to destroy or otherwise dispose of — perhaps through donations — its unsold Yeezy merchandise. Environmental impactThe options for dealing with unsold Yeezy gear pose big challenges. “Exporting it looks to be the last and final best solution to make Yeezy products disappear,” said Flickinger.

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