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☆ Macy's proxy fight is over, but the battle for the department store's future wages on
▼ + stars: | 2024-04-13 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +7 min

Arkhouse then launched its proxy fight and put forward nine nominees to Macy's 15-person board. Turning the tideOther department store chains have faced challenges from activists in recent years, and even when those efforts fall short, the pressure can bring about sweeping changes. That includes Macy's locations with stronger sales as well as its two chains that have outperformed the namesake brand, higher-end department store chain Bloomingdale's and beauty chain Bluemercury. Arkhouse claims Macy's refused to engage with it, and Macy's rebuffed Arkhouse saying it didn't have the financing for the takeover it proposed. Arkhouse, for its part, has said it plans to keep Macy's stores open.

Persons: Bing Guan, Tony Spring, Arkhouse, Neil Saunders, Macy's, Michelle Gass, Levi Strauss, Chip Bergh, Ben Hider, —, GlobalData's Saunders, It'll, Gavriel Kahane, Kahane, it's Organizations: Macy's Inc, National Retail Federation, Bloomberg, Getty, Arkhouse Management, Capital Management, American, Brigade, Levi, Herald, Sears, CNBC, Macy's, Fortress Investment Group, One Investment Management Locations: Herald, New York, Macy's, New York City

☆ Amazon CEO Andy Jassy spurns regulators after failed iRobot deal: 'It's a sad story'
▼ + stars: | 2024-04-11 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Amazon CEO Andy Jassy on Thursday took aim at regulators who are increasingly blocking mergers, including the company's planned acquisition of robotic vacuum maker iRobot , which fell apart earlier this year amid antitrust concerns. "I think it's really kind of a sad story," Jassy said in an interview with CNBC's Andrew Ross Sorkin on "Squawk Box." Jassy said the move showed that regulators "trust these two large Chinese companies with maps of the inside of U.S. consumers' homes more than they do Amazon." As megadeals have slowed to a crawl, tech companies have made a flurry of investments in artificial intelligence startups, seeking to gain a foothold in the burgeoning market. When asked how Amazon is tackling returns fraud, Jassy said the company has teams charged with examining returned goods to make sure they're "appropriate."

Persons: Andy Jassy, Jassy, CNBC's Andrew Ross Sorkin, iRobot, Anker, Ecovacs, Biden Organizations: Federal Trade Commission, Big Tech, Microsoft, Regulators, FTC, Amazon, CNBC, National Retail Federation, Appriss Locations: U.S, China, OpenAI

☆ Imports from China to the US are rising at the highest rate since last fall
▼ + stars: | 2024-04-10 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Imports coming to the U.S. from China are experiencing a notable increase, according to new trade and logistics data. The first half of 2024 is expected to total 11.7 million TEUs (twenty-foot equivalent units), an increase of 11% from the same period last year. In 2023, imports were down from 2022 by almost 13%, totaling 22.3 million TEUs. By comparison, New York/New Jersey processed 7.81 million TEUs, Georgia 5.4 million TEUs, Virginia at 3.3 million TEUs, Charleston 2.5 million TEUs, Jacksonville 1.3 million TEUs, and Miami 1.25 million TEUs. The other reason for the recent container push is fears of a labor strike at East Coast and Gulf ports.

Persons: John Gold, Francis Scott Key, Jason Hilsenbeck, Drayage.com, Paul Brashier, Brashier Organizations: Future Publishing, Getty, Global, National Retail Federation, Hackett Associates, Francis Scott Key Bridge, Miami, ITS Logistics, CNBC, Baltimore, West Coast, U.S ., Port / Railroad, Longshoremen's Association, United States Maritime Alliance Locations: Taicang, Jiangsu province, China, U.S, Panama, Port of Baltimore, East Coast, New York, New Jersey, Georgia, Virginia, Charleston, Jacksonville, Port of Virginia, Norfolk, Baltimore, NY, NJ, Norfolk and New York, West, West Coast North, U.S . East Coast, West Coast, Los Angeles, Long Beach, Long, Gulf, East

☆ What’s open and closed on Easter Day 2024?
▼ + stars: | 2024-03-30 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

On Easter Sunday, Christians celebrate the resurrection of Jesus Christ on the third day after his crucifixion. Here’s what’s open and closed on Easter Sunday 2024. Most Kroger stores and the grocery stores under its umbrella will be open on Easter, the company said. Postal servicesSince it’s a Sunday, United States Postal Service won’t be delivering mail. There will be no UPS pickup or delivery service, and UPS Store locations may be closed but Express Critical will be available.

Persons: Jesus Christ, Jesus, TJ Maxx Organizations: New, New York CNN, National Retail Federation, Retail, Costco, Sam’s, Kroger, Shoppers, Walmart, New York Stock Exchange, Nasdaq, United States Postal Service, FedEx Locations: New York, HomeGoods, Sierra

☆ Premarket stocks: Warren Buffett’s favorite indicator is flashing red
▼ + stars: | 2024-03-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —The “Buffett Indicator” is flashing red. If the stock market is growing a lot faster than the economy, that could be a sign of a bubble. Yes, but: The so-called Buffett Indicator is not without flaw. By the closing bell, Trump Media ended at $57.99, up by a more modest 16% on the day. He said Trump Media is likely worth somewhere around $2 a share — nowhere near its closing stock price of $58.

Persons: Warren Buffett, Fortune Magazine “, Berkshire Hathaway, John Hussman, Hussman, Larry Summers, “, ”, Louis Navellier, Goldman Sachs, Navellier, doesn’t, Buffett, they’re, Jamie Dimon, Kevin Gordon, Charles Schwab, Elisabeth Buchwald, Donald Trump’s, CNN’s Matt Egan, Jay Ritter, Ritter Organizations: CNN Business, Bell, New York CNN, Fortune Magazine, Nvidia, Federal Reserve, Bloomberg, Navellier, Associates, “, JPMorgan, CNBC, CNN, Visa, Mastercard, Court, Eastern, of, National Retail Federation, Trading, Trump Media & Technology Group, Trump Media, University of Florida’s Warrington College of Business, GameStop, AMC Locations: New York, of New York

☆ Credit-card points might be entering a new era
▼ + stars: | 2024-03-26 | by ( Dan Defrancesco | Alex Bitter | ) www.businessinsider.com time to read: +4 min

Visa and Mastercard settled a dispute with US retailers over credit-card swipe fees. AdvertisementOne of the great American pastimes — using your credit card to accumulate points — could be about to change. On Tuesday, Visa and Mastercard settled with US retailers over a longstanding dispute tied to credit-card swipe fees. But the points game can be one of fine margins, and a change to interchange fees could have ripple effects for rewards programs. Don't be surprised if it starts taking a lot longer to rack up the points required for your next getaway.

Persons: Banks, —, they'd, David Morris, Morris, David Silverman Organizations: Visa, Mastercard, Service, JPMorgan Chase, Bank of America, Bloomberg, Chase, National Retail Federation, Retail Industry, Association, Credit, Fitch Locations: bodega, It's, eMarketer

☆ Why we don't actually know whether retail theft is a big problem
▼ + stars: | 2024-03-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

But a new report suggests we don't know whether organized retail crime is a big problem or not. "Organized retail crime," "retail theft," and similar terms don't correspond with categories that local police departments use to categorize crimes, Hanna Love, a fellow at Brookings, told Business Insider. It's unclear what makes organized retail crime "different than, say, other instances of shoplifting" from a data perspective, Love said. The NRF has said that it took back the estimate due to an error by an outside analyst who contributed to its report on organized retail crime. About fourteen states passed new laws on retail theft in 2022 and 2023, Stateline reported in December.

Persons: —, Hanna Love, Love, James Kehoe, William Blair, Target's, it's, Sebastian, Stateline Organizations: Walmart, Walgreens, Service, Target, National Retail Federation, Brookings Institution, Brookings, Retail, The New York Times Locations: States, Brookings, San Francisco, Indiana, Fairfax , Virginia

☆ Refund fraud schemes promoted on TikTok, Telegram are costing Amazon and other retailers billions of dollars
▼ + stars: | 2024-03-14 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +14 min

The following month, 10 men were indicted in Oklahoma, charged with conspiracy to commit wire fraud for allegedly operating a refund fraud service named Artemis Refund Group. A thriving refund fraud marketFor every refund fraud service shut down by law enforcement, swarms of similar groups remain open for business. CNBC viewed several active refund fraud services on encrypted messaging app Telegram, each with thousands of followers. Zoom In Icon Arrows pointing outwards A Google form from an active refund fraud service explaining which stores it targets and how much it charges customers. Zoom In Icon Arrows pointing outwards A refund fraud service claims to have access to Amazon insiders in a Telegram post.

Persons: Stephanie Keith, Noah Page, Page, he'd, Ralph, —, Rick Owens, Sajed Al, Ralph Lauren, Uber, Maarej, Chris Black, Amazon, Al, they'd, Rekk, Cyril Noel, Tagoe, Noel, Louis Vuitton, scammers, Reddit, Brittany Allen, Allen, Remi Vaughn, Vaughn, she's, David Johnston, Johnston Organizations: Bloomberg, Getty, CNBC, National Retail Federation, Appriss, Amazon, Page, Riverside Press, Medianews, PayPal, Retailers, Artemis, Walmart, Apple, Nike, eBay, Saks Fifth, DoorDash, Google, MacBook, Mail, UPS, U.S . Postal Service, Al, Rekk, Gucci Locations: New York, Chattanooga , Tennessee, Reddit, TikTok, Eastvale, Michigan, Oklahoma, Chattanooga

☆ The global trade system has already started planning for potential Trump win, new China tariffs
▼ + stars: | 2024-03-11 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +9 min

The Trump administration used delegated authorities under three trade laws to unilaterally levy tariffs without Congressional approval. The Trump administration tariffs kickstarted a shift in supply chain strategy which, according to Frank, became more well-developed by customers during Covid, when they contemplated moving factories and production out of China. He expects any increase in tariffs during a second Trump presidency to lead to a greater shift in trade from China to Mexico to avoid the tariffs. "If you charge tariffs to China, they're going to build ... their car plants here and they're going to employ our people," Trump said. S&P Global research shows that China's share of the imports of products covered by tariffs imposed by the Trump administration has dropped.

Persons: Donald Trump, Trump, Niki Frank, Frank, Beth Whited, they'd, Paul Brashier, Chris Rogers, Biden, Rogers, Jon Gold, John Taylor IV, Taylor, Peter Boockvar, Critics, it's, that's Organizations: United, Canada Trade, White, CNBC, Global, Trump, China, Biden, OF DHL, Union, Canadian Pacific, Canadian Pacific Kansas City, Union Pacific, ITS Logistics, P Global, Vietnam, National Retail Federation, Berlin Packaging, Trade, Bleakley Financial, ASEAN Locations: United States, Mexico, Canada, Washington , DC, U.S, OF DHL Asia, Long Beach , California, China, Union Pacific, Canadian Pacific Kansas, East, West, Vietnam, Malaysia, South Korea, CNBC Mexico, Europe, Thailand, Indonesia

The situation was so dire last year at one Walgreens store in San Francisco, employees resorted to padlocking frozen foods. The effort to undo some aspects of Prop 47 comes amid a broader check on some other liberal crime enforcement policies in America. Police data shows that larceny theft, which includes retail theft and car break-ins, is down 37% from this time last year. On Tuesday, San Francisco voters approved two ballot measures spearheaded by Breed. Last September, the state announced it would be sending $267 million to law enforcement agencies throughout the state to tackle organized retail theft.

Persons: Gavin Newsom, It’s, ”, Jason Henry, “, Marlene Harden’s, Harden, Chloe, …, ” Harden, Marlene Harden's, Thanh Tran, Tran, Ella Baker, CNN Lenore Anderson, ” Anderson, Richard Bailey of Coronado, Breed, Tayfun, –, Miracle, don’t, We’re, Newsom, He’s Organizations: San Francisco CNN —, Republican, Democratic, Democratic Gov, CNN, Public, Institute of California, state’s Department of Justice, Walgreens, Walmart, ” Walmart, Westfield San Francisco Centre, New York Times, “ Walgreens, ”, National Retail Federation, Target, Ella Baker Center for Human, Attorneys, San Francisco Mayor London, San Francisco Mayor London Breed, Anadolu Agency, San Francisco Chronicle, Police, “, San Francisco, Breed Locations: San, California, San Francisco, America, Oregon’s, San Diego County, Francisco, Texas, South Carolina

☆ Walmart Reports Rising Holiday Sales as Shoppers Seek Value
▼ + stars: | 2024-02-20 | by ( Jordyn Holman | More About Jordyn Holman | ) www.nytimes.com time to read: +2 min

The NumbersWalmart said its comparable store sales were up 4 percent in the three months that ended in late January compared with the year before. In addition to its same-store sales, Walmart said its U.S. e-commerce business increased 17 percent. At the same time, many retailers, including Walmart, focused on value last year as the economy cooled and shoppers became more selective. The Road AheadAnalysts expect retail sales to continue to moderate this year after a surge in consumer spending during the early stages of the pandemic. U.S. retail sales fell 0.8 percent in January from a month earlier, according to data released from the Commerce Department last week.

Persons: John David Rainey Organizations: Walmart, Target, Kroger, National Retail Federation, Analysts, Commerce Department Locations: U.S

☆ Free Shipping and Free Returns From Online Shopping Are Dying. Good.
▼ + stars: | 2024-02-18 | by ( Emily Stewart | ) www.businessinsider.com time to read: +6 min

Well, if you’ve ever bought stuff online and received free shipping or returns, you’ve also been a little bit of a jerk — and now it’s time to pay up. Fast, free shipping and easy, no-cost returns have become a baseline expectation in the modern online shopping experience. Instead of fighting for market share by offering free shipping and no-hassle returns, retailers are trying to squeeze more money out of every transaction. Free shipping is not actually free . Returns are a necessary and inevitable part of online shopping.

Persons: you’ve, —, ASOS, ” Neil Saunders, hasn’t, Emily Stewart Organizations: National Retail Federation, Appriss, Urban Outfitters, Saks, Amazon, Retailers, Business Locations: Zara, J.Crew, what’s

Uber Eats says its flower orders peak on Valentine’s Day between 10 a.m. and 5 p.m. Uber Eats says it also appears to be a resource for forgetful lovers: Its flower orders are 60% higher than average on the day after Valentine’s Day. But I love making people happy.”Bryant sympathizes with the people who call in orders on Valentine’s Day. She spent a lot of time trying to figure out how many flowers to order for her shop this Valentine's Day. In 2023, 30% of OpenTable reservations for Valentine’s Day were made the day before and 18% were made on the day of. The venue gets requests all the way through Valentine’s Day, says Katie Higgins, Meadow Brook’s marketing and communications manager.

Persons: ”, Amanda Schoenbauer, they’re, Candy, décor, Target, Uber, Procrastinators, Linda Bryant, “ Valentine’s, “, ” Bryant sympathizes, it’s, Katie Higgins, Meadow, Joseph Ferrari, Ferrari, Don’t, Anne D'Innocenzio Organizations: Walmart, National Retail Federation, Walgreens, Valentine’s, DePaul University in, AP Locations: Panama , Nebraska, Rochester , Michigan, DePaul University in Chicago, New York

☆ The Super Bowl menu has changed. Here's what people are buying and how much they're spending.
▼ + stars: | 2024-02-09 | by ( Juliana Kaplan | Cork Gaines | ) www.businessinsider.com time to read: +4 min

In total, American households are expected to spend a total of around $86 on average for their Super Bowl necessities. The National Restaurant Association said that Super Bowl food habits are shifting a little this year. For example, Kennedy said that women, by a sprawling margin, view chips and salsa as Super Bowl must-haves and feel similarly about nachos. While Super Bowl ticket prices have fallen a bit heading up to the Super Bowl, they opened on the day after the AFC and NFC Championship games at some of the highest levels in history. They are predicting a record TV audience for this year's Super Bowl because of her impact.

Persons: —, “, ” Sean Kennedy, Taylor Swift, Kennedy, it’s, Swift, David Steinberg, Clark Hunt Organizations: Service, Super, National Retail Federation, Business, National Restaurant Association, Super Bowl, of Commerce, Seton Hall, Poll, AFC, NFC, Zeta Global, CNBC, Chiefs, Bowl LIV, 49ers

☆ Trade leaders urge governments around the world to join Red Sea military effort
▼ + stars: | 2024-02-08 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +2 min

Trade associations representing sectors across the global economy have joined an open letter urging more governments around the world to join Red Sea maritime security efforts. Currently, U.S.-led Operation Prosperity Guardian is the primary military defense effort protecting merchant vessels that have come under attack from Houthi rebels in the Red Sea. The trade groups' letter comes at a time when the scrutiny of military efforts in the Red Sea is rising within countries that have taken a lead role, including the U.S. Senators on the Foreign Relations Committee, as well as House representatives, have recently questioned the Biden administration's unilateral authorization of Navy action in the Red Sea that can be on behalf of foreign-flagged vessels. Despite political pressure, the flow of global trade remains heavily reliant on the use of foreign vessels.

Organizations: CNBC, American Apparel and Footwear Association, National Retail Federation, Prosperity Guardian, U.S, Senators, Foreign Relations, Biden, MDS Transmodal Locations: Red, U.S, France

☆ Amazon set to report fourth-quarter earnings after the bell
▼ + stars: | 2024-02-01 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

Amazon is slated to report fourth-quarter earnings Thursday after the closing bell. In January, Amazon said it would let go of employees across units including Prime Video, MGM Studios, Twitch, Audible and Buy with Prime. In November, Amazon launched "Q," an AI chatbot for businesses, as well as new Trainium chips for AI applications. Discovery 's Max by introducing ads to Prime Video programming. Amazon will discuss the report on a conference call with analysts at 5:30 p.m.

Persons: Andy Jassy, Amazon, Evercore, Jassy's, Brian Olsavsky, Max Organizations: Web, Amazon, MGM Studios, Revenue, National Retail Federation, Netflix, Disney, Hulu, Warner Bros, Citi Locations: Ukraine

☆ 'The shooting has to stop': World's biggest shipping company pleads with Congress to help end Houthi Red Sea chaos
▼ + stars: | 2024-01-30 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Ralby stressed the crisis in the Red Sea is not just a U.S. problem, but recent attacks by the U.S. military have led to greater targeting of its vessels. After those attacks, Maersk announced it would no longer be transiting the Red Sea. MSC announced on December 17 that it would divert its services that would typically transit the Red Sea and the Suez Canal around the Cape of Good Hope. Sailing around the Cape of Good Hope to avoid the Red Sea adds one to two weeks to a one-way shipping journey relative to the Red Sea and Suez Canal. Rising freight costs were a big component of inflation during Covid and the Red Sea crisis has renewed fears that another bout of supply chain-triggered inflation could occur.

Persons: Ralby, Ian Ralby, Darr, Charles, Bud, Salud Carbajal, Biden, Hapag Lloyd, Bab, Good Hope, Jon Gold, Phillips, Ralph Lauren, Levi Strauss, Gold Organizations: U.S, Mediterranean Shipping Company, U.S . Navy, Coast Guard, Maritime Transportation, MSC, Senate Foreign Relations Committee, Maersk, Maersk Detroit, Maersk Chesapeake, Navy, Intelligence, Suzuki, Volvo, Michelin, Ikea, National Retail Federation, Bank of America, Van Heusen Corporation, Birkenstock, Capri Holdings, Nike, Corp Locations: Suez, Ismailia, Egypt, Yemen, U.S, Iran, Gulf, Aden, Maersk, Good, Europe's, Asia, Europe, Vietnam

☆ Retail return fraud is rising as key holiday deadline approaches
▼ + stars: | 2024-01-29 | by ( Courtney Reagan | ) www.cnbc.com time to read: +5 min

As more consumers shop online and send back more of those orders, retailers have moved to crack down on fraud. Retailers expect 16.5%, or $24.5 billion worth, of holiday returns to be fraudulent this year, according to a survey by Appriss Retail and the National Retail Federation. Shipping back an empty box or a different item than was received, such as a box of bricks instead of a television, is the most common form of return fraud, according to Pitney Bowes' Ramachandran. Zoom In Icon Arrows pointing outwards Source: Appriss Retail/National Retail FederationReturn abuse is more commonThere's also less egregious behavior, often considered return abuse rather than fraud. More than half, or 56%, of consumers confess to "wardrobing," according to a survey from fraud prevention firm Forter.

Persons: it's, Vijay Ramachandran, Pitney, we've, Michael Osborne, Marc Metrick, That's, Pitney Bowes, Ramachandran, fraudsters, Osborne, Doriel Abrahams, Abrahams, Jeff Greenberg Organizations: Pitney Bowes, Retailers, Appriss Retail, National Retail Federation, Appriss, Saks, Shipping, CNBC, National, Federation, Ikea, Universal, Getty Locations: Doral , Miami

☆ Retail CEO turnover soars, and fewer women hold top jobs in the industry
▼ + stars: | 2024-01-25 | by ( Courtney Reagan | ) www.cnbc.com time to read: +2 min

Last year, U.S. companies announced 55% more CEO changes than in 2022, according to outplacement firm Challenger, Gray & Christmas. Boards didn't want to make changes, CEOs themselves didn't want to leave. The retail industry in 2023 saw 52 CEO departures, its second-highest number since Challenger, Gray & Christmas started tracking them, and more than double the 21 CEO turnovers in 2022, according to the firm's data. It was below 2019's record 63 CEO departures in the industry. In Korn Ferry's separate analysis of retail CEO turnover in 2023, the executive recruitment firm found 57% of new chief executives named in the industry last year were already working for the company they will lead.

Persons: Michelle Gass, Levi Strauss, Macy's, Andy Challenger, Challenger, Korn Organizations: Kohls Corp, National Retail Federation Inc, Challenger Locations: New York, U.S

☆ Salesforce CEO Marc Benioff tells retail workers: AI won't steal your job. It can make you better at it.
▼ + stars: | 2024-01-24 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +2 min

Generative artificial intelligence won't take jobs from retail workers; instead, it will make them better at their jobs, Salesforce CEO Marc Benioff told attendees at the National Retail Federation's annual conference in New York last week. They're not going to need as many agents," Benioff said. The system was able to augment those agents and make them better," Benioff said. With generative AI, he added, Gucci had taken its customer service agents to "a whole other level." "They're pretty incredible people, using generative AI for the first time," Benioff said.

Persons: Marc Benioff, Benioff, NRF, John Furner, Loro Piana, Gucci —, They're, That's, bam, Gucci Organizations: Business, Walmart, LVMH, Gucci, Kering Locations: New York, Italy

☆ I visited a 'bin store' that sells Amazon returns for as little as 25 cents. It made me rethink my shopping habits.
▼ + stars: | 2024-01-23 | by ( Gloria Dawson | ) www.businessinsider.com time to read: +8 min

After two trips to my local Where Ya Bin store, I've seen enough returned Amazon items to last a lifetime. (Amazon would not answer specific questions about its relationship with bin stores and why certain products end up there. Gloria Dawson / Business Insider"People generally love it or hate it," Jason Carrick, the owner of Where Ya Bin, told me. What to expect when bin shoppingHours and prices at Where Ya Bin Gloria Dawson / Business InsiderI visited a Where Ya Bin store in Columbus, Ohio, on a Saturday and Wednesday in December. Despite my hesitations, I bought a few items and can see the benefits of bin store shopping.

Persons: —, Gloria Dawson, I've, I'm, Jason Carrick, It's, Carrick, Bin Gloria Dawson, Kamala Harris, Hightower, Gloria Organizations: Service, Business, National Retail Federation, Bed, Amazon Locations: Local, Ohio , Florida, South Carolina, North Carolina, Columbus , Ohio, Bed Bath

☆ Holiday sales climb, boosting retailer hopes that shoppers will spend during uncertain 2024
▼ + stars: | 2024-01-17 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

Holiday sales rose 3.8% year over year to $964.4 billion, according to the National Retail Federation, as consumers spent on gifts and celebrations even after enduring a prolonged period of higher prices. The holiday sales total was not adjusted for inflation and included both in-store and online purchases. "Consumer spending was remarkably resilient throughout 2023 and finished the year with a solid pace for the holiday season," he said in a news release. Online sales and other nonstore sales rose 8.2% year over year. Average sales growth during the holiday season was 3.6% from 2010 to 2019, according to NRF data.

Persons: NRF, Jack Kleinhenz Organizations: Woodbury, National Retail Federation, Commerce Department, CNBC, NRF, Retail, Electronics, Federal, Abercrombie, Fitch, Eagle Outfitters, CNBC PRO Locations: Lacoste, Central Valley , New York, Lululemon

☆ Target and Walmart stores in the Bay Area are locking up underwear and socks to prevent shoplifting
▼ + stars: | 2024-01-15 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Target and Walmart stores in the Bay Area are putting underwear and socks behind locked doors. AdvertisementUnderwear and socks are some of the latest items to be locked up at Target and Walmart stores in the Bay Area, in the retailers' latest efforts to combat shoplifting, NBC Bay Area reported . One customer told NBC Bay Area that they had to wait 10 minutes for an assistant to retrieve an item. A Walmart store located in Hilltop, California is also keeping underwear locked up in a bid to prevent theft. Cesar Zepeda, a Richmond City councilmember, said in an interview with NBC Bay Area that retail theft is hurting the local community and its likely to lead to store closures.

Persons: —, Cesar Zepeda Organizations: Walmart, Service, Target, NBC Bay, NBC Bay Area, Richmond City councilmember, Social, National, Security Survey Locations: Bay, Hilltop , California, Richmond

☆ French post offices are trialling changing rooms to let people try on their online purchases
▼ + stars: | 2024-01-13 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

France's post office is trialing in-store changing rooms to make online shopping easier. The bright yellow booths are designed to look like French post boxes. AdvertisementFrance likes to do some things differently – and its post office is no different. Related stories"The idea is to simplify the lives of our clients," La Poste said, per The Guardian. La Poste also hopes the experiment will bring more people into its branches, which has dropped as sending letters becomes less common.

Persons: —, ALAIN JOCARD, Shopify, There's, Poste, Chloe Thomas, Thomas Organizations: Service, Shoppers, Capital, French Retailers Association, LinkedIn, US National Retail Federation, Poste, Business Locations: France, Paris, Lannion, La Rochelle, La

☆ Google Cloud launches new generative AI tools for retailers
▼ + stars: | 2024-01-11 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

Google launched several new tools for retailers using generative artificial intelligence to improve online shopping experiences and other retail operations, its cloud business announced in a release Thursday. Google Cloud's offerings are the latest example of generative AI's growing influence in the retail industry. Google's newly unveiled AI products additionally include tools for enhancing retailers' customer service systems and expediting their product cataloging processes. Beyond online shopping, brick-and-mortar stores are also getting new AI capabilities through Google Distributed Cloud Edge, an existing hardware and software product. The announcement of Google Cloud's latest AI tools comes just days before the start of the National Retail Federation's annual convention in New York City.

Persons: Carrie Tharp Organizations: Google, Amazon, National, CNBC PRO Locations: New York City

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