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That offers a rare opportunity to retailers, who are trying to anticipate what their customers will now want to wear to work. As sales of work clothes surged at Banana Republic in recent weeks, the retailer didn’t promote the same pre-pandemic standard of blazers, skirts and suits. Betabrand Inc. added more styles of its Dress Pant Yoga Pants, which look like dress pants with a faux button and buttonhole but feel like leggings, according to merchandising manager Megan Quirolo. Roughly two-thirds of U.S. office workers are expected to return to an office, according to market research firm NPD Group. Then the pandemic hit and sent people home, where their office clothes have been gathering dust.
Persons: , , Gabriel Dungan, Brooks, Ana Andjelic, Nick Rendic, Ken Ohashi, Ohashi, waistbands, Gihan Amarasiriwardena, Megan Quirolo, M.M, ” “ It’s, Sarah LaFleur, “ It’s, , Jessica Richards, workwear, Russ Ferguson, Gabrielle Clemens, Clemens, ” Betabrand, Angela Simpson, it’s, ” Maureen Crawford Hentz, Elizabeth Spaulding, Ms, Spaulding, Levi Strauss, Goldman, Omri Gillath, Regan Gurung, Gurung, Joy Peluchette, Charles, Peluchette, Samantha Puig, Puig, Liz Puccetti, they’ve, Gillath, Sheraz Iftikhar, ” Mr, Iftikhar, Mr, Sali Christeson, Karl Hudson, Nicole Miller Organizations: Brooks Brothers, J.Crew, Inc, Penney Co, Banana Republic, Employees, NPD Group, of Supply Inc, Betabrand, Lafleur Inc, Design Consulting, Klarna Bank, Group, RBC Wealth Management, Betabrand Company, Society for Human Resource Management, “ Employers, Chesterton Co, San, Aloha, Dockers, Levi’s, , Goldman Sachs, University of Kansas, Oregon State University, Lindenwood University, U.S, Global Advisors, Ministry, Supply, White, Nike, Tyne Locations: Charlotte, N.C, New York City, Jersey, New Jersey, A.W, Chesterton, Groveland, San Francisco, Hawaii, St, Mo, Fredericksburg, Va, Wauwatosa, Wis, Manhattan, Newcastle, Manhattan’s
Fragrance sales have been soaring since last August, and jumped 45% in the first quarter. They became a small luxury during the pandemic, according to NPD Group's Larissa Jensen. Lipstick sales, and makeup sales overall, plummeted throughout 2020, making the lipstick index essentially obsolete. Fragrance sales were up 45% in the first quarter of 2021 versus the year prior, according to data from market research firm NPD Group. She said that she thinks the rise in fragrance sales is inextricably linked to the pandemic, a dark time when people were looking for a getaway, if only mentally.
Persons: NPD Group's Larissa Jensen, I've, Larissa Jensen, Jensen, Read, Jo Yong Hak, — Jensen Organizations: NPD Group's, NPD Group
Courtesy of Ryan Cohen; Chewy; GameStop; Olly Curtis/Future Publishing via Getty Images; Reddit; Samantha Lee/InsiderMeme stocks are experiencing a resurgence, with shares of GameStop rising roughly 50% in the past month. The rise can be partially attributed to a short-squeeze as the company's short interest remains elevated at 20%. GameStop stock continued its rally on Friday amid a meme-stock resurgence with shares rising as much as 5.39%. GameStop shares were also buoyed by the company's recent announcement that it is building a non-fungible token (NFT) platform based on the ethereum blockchain. GameStop stock is up more than 1200% since December 31, 2020, and the company has capitalized on the move.
Persons: Ryan Cohen, Olly Curtis, Samantha Lee,, George Sherman Organizations: Chewy, GameStop, Future Publishing, Getty Images, Gamestop, Bell, AMC, S3 Partners, ORTEX, NPD Group
Square's move to offer alcohol delivery comes as on-demand delivery of food continues to grow a year after the onset of the coronavirus pandemic. Square allows merchants in certain states to offer alcohol delivery. Instacart and the ultrafast-delivery startup Gopuff, which bought BevMo last year, also offer alcohol delivery. "The announcement to start facilitating alcohol delivery seems to be more of an effort to enhance the seller segment offering for existing restaurant and hospitality customers who want to offer alcohol and not a full-fledged entrance into food and alcohol delivery," Hobson told Insider. Hobson noted Square was jumping into alcohol delivery through a partnership with DoorDash less than two years after getting out of the delivery business.
Persons: We've, Jack Dorsey, David Rusenko, Weebly, Rusenko, DoorDash, Uber, Lucas Jackson, Reuters Chris Kuiper, Peter Hobson, Hobson, Kuiper Organizations: Twitter, NPD Group, New York Stock Exchange, Reuters, CFRA Research Locations: . Texas, California, San Francisco, New York
Mask mandates during the pandemic made it challenging to wear lipstick or lip gloss. But with the new CDC guidelines, the beauty industry is expecting a lift in lipstick sales. After being largely neglected for over a year, lipstick, lip liner, and gloss are about to see a resurgence. It's led to several states lifting their mask mandates and retailers across the US dropping mask requirements for customers and employees. A growing sense of optimismDimitrios Kambouris/Getty Images for ULTA Beauty / KKW BeautyBut that may be about to change.
Persons: Larissa Jensen, It's, it's, Ding, Matte lipsticks, Jensen, Kantar, Dimitrios Kambouris, — Kim, we'll Organizations: NPD, Centers for Disease Control, Prevention, Service, NPD Group, Amazon, McKinsey & Company Locations: Ulta, Sephora, New York
Stacey Abrams, Hillary Clinton and Why Politicians Write Fiction
  + stars: | 2021-05-11 | by ( Mark Yarm | ) + 0.00   time to read: +3 min
But a different sort of trend is making a comeback in 2021: Big-name politicians are writing fiction. Stacey Abrams’s While Justice Sleeps, which centers on Avery Keene, a law clerk for a U.S. Supreme Court justice, is out May 11. (The former Georgia gubernatorial candidate has also written eight romance titles under the pen name Selena Montgomery.) Another part of the appeal is the insider knowledge that people like the Clintons can bring to the page. “With the first book, there were certain reviewers who said, ‘I know exactly what Clinton wrote and what Patterson wrote,’” he recalls.
Persons: Donald Trump, Barack Obama’s, Stacey Abrams’s, Avery Keene, Keene, Selena Montgomery, Bill Clinton, James Patterson, Hillary Clinton, Louise Penny, “ There’s, , Kristen McLean, ” Patterson, , Clinton, Patterson, ’ ”, Organizations: U.S, Supreme, Navy SEAL, of, NPD Group Locations: Georgia, Belgrade
Mark Cuban leads $3.5 million funding for a startup that helps keep delivery food fresh. All the humidity rises, collects at the top, and rains back down onto the food," Maselli told Insider in an interview. It read like this: "I'm co-founder of a simple, patented product that changes food delivery as we know it." And it doesn't leak back down," Maselli told Insider. "They knew that our product down the line is going to help their restaurants deliver better food," Maselli said.
Persons: Mark Cuban, Jerome Schneider, Bill Birgen's, Greg Maselli, Grant Stafford, Maselli, Cuban, Tom Armenti, SAVRpak, DoorDash, Greg, Grant Organizations: San, Cuban, Fat, Miso Robotics, NPD Group, Consumer Intelligence, Foods Locations: Southern California, San Juan Capistrano , California, Cuban
Supply shortages are nothing new in the tech industry, and we seem to go through the same issue every few years. But a beyond-perfect storm has added up to a significant supply shortage in the PC market that likely isn't going to clear up anytime soon. The problem is primarily impacting the consumer and PC market, although the automotive sector is also feeling the pinch. "I lay it at the door of scalpers who scooped up the supply," Peddie said. Too much overorderingAnother underreported problem taking place, according to Peddie, is a lot of overbooking in reaction to supply shortages.
Persons: there's, Stephen Baker, Alan Priestley, Gartner, Baker, Shane Rau, Rau, Jon Peddie, Peddie, Priestly, we'll Organizations: NPD Group, Gartner, AMD, Google, Intel, IDC, Miami, Nvidia, Investment, Logistics Locations: Asia, Wuhan, China, Taiwan, Korea, Japan, South Korea, Malaysia, Philippines, Indonesia, Hong Kong, Chandler , Arizona, Arizona
The women's performance business for running brand Brooks grew 88% in Q1, blowing past Nike. In general, brands focused heavily on running performance for athletes have reaped the benefits of a pandemic-era fitness and running boom. Brooks was the largest women's performance running shoe brand in the quarter, blowing past competitors like ASICS, New Balance, Adidas, and Nike, the latter of which saw its women's running performance business decline by about 35% in Q1. When it came to men's performance running brands in Q1, Brooks was second only to Nike. Inside Brooks' strategy for successEven before the pandemic, Brooks' strategy was always to put the runner — or potential runner — at the center of all operations, Sheridan explained.
Persons: Brooks, Matt Powell, NPD's Powell, , Dan Sheridan, Sheridan, We've Organizations: Nike, NPD, Adidas, NPD Group, Urban Outfitters, omni Locations: Europe, Asia
A number of retail stocks surged Monday as investors looked for ways to buy into the economy reopening, after several large states further loosened Covid restrictions or suspended the measures entirely. The S&P Retail ETF closed Monday up 2%, as a host of retail stocks rallied. Ron DeSantis signed an executive order on Monday that immediately suspends the state's remaining Covid-19 public health restrictions. New York, New Jersey and Connecticut will begin lifting most of the states' capacity restrictions starting on May 19. Call options give investors the right, but not an obligation, to buy shares at a specific price by a stated time.
Persons: Macy's, Kohl's, Ron DeSantis, Andrew Cuomo's, Bill de Blasio, Jefferies, Stephanie Wissink, Wissink, Kanye, — CNBC's Tom Franck Organizations: P Retail, Apparel, Nordstrom, Urban Outfitters, Florida Gov, New York Gov, York, NPD Group Locations: New York , New Jersey, Connecticut, U.S, Republic
U.S. fast-food chains cash in, seize market share during pandemic
  + stars: | 2021-04-30 | by ( Hilary Russ | ) + 0.00   time to read: +2 min
REUTERS/Shannon StapletonMcDonald's Corp, Taco Bell, Chipotle and other fast-food chains stand to gain yet more market share from sit-down restaurants as consumers stick with the mobile ordering habits they picked up during the pandemic. During the year ending in March, Americans spent nearly $281.6 billion on fast food – which gained the 7.1% of market share by dollars that full-service restaurants shed, the NPD data show. Fast food "is going to be the bright spot in the restaurant space for a long time to come," NPD analyst David Portalatin said, noting that fast food was gaining market share even before the pandemic. To be sure, Bloomin' Brands Inc, which said Thursday that it plans to expand 750 sit-down Outback Steakhouse locations to 1,000, grew its digital ordering 147% over last year. At many fast food outlets, seating areas remain shuttered.
Persons: Taco, Shannon Stapleton McDonald's, Taco Bell, David Portalatin, Joe Erlinger Organizations: Taco Bell's, REUTERS, Shannon Stapleton McDonald's Corp, Taco, McDonald's Corp, Taco Bell, KFC, Yum Brands Inc, Grill Inc, NPD Group, NPD, Brands Inc, National Restaurant Association, Thomson Locations: New York City, U.S, United States
"The filings would suggest Vanessa [Bryant] is building an IP portfolio for a new brand launch," Gerben told CNBC. While Kobe Bryant's estate may have parted ways with Nike , big plans may be in the works for the brand. "Vanessa — or the estate — is going through and relatively methodically trying to protect the brand around Kobe and his daughter," said Gerben. "Kobe Bryant was an important part of Nike's deep connection to consumers. Matt Powell, a senior industry advisor at NPD Group, said Kobe Bryant shoes are much more important brand in China than in the U.S. in recent years.
Persons: Kobe Bryant, Gianna Bryant, Gerben, Mambas, Gianna, Gigi, Bryant's, Vanessa, Bryant, Josh Gerben, It's, Vanessa —, Shervin, Virgin's Hyperloop, Vanessa Bryant, BallerShoes, Michael Jordan, LeBron James, Matt Powell Organizations: Los Angeles Lakers, Atlanta Hawks, Staples Center, Mamba League, CNBC, Nike, Kobe Bryant LLC, The Mamba Sports Academy, Sports Academy, Kobe Inc, Kobe, Product, of Fame, BMO Capital Markets, US Magazine, BallerShoes DB, NPD Group Locations: Los Angeles , California, Kobe, China, U.S
The Future of High Heels Looks Wobbly—at Least for Now
  + stars: | 2021-04-13 | by ( Ray A. Smith | ) sentiment -1.00   time to read: +1 min
“I was doing like a saunter step, trying to be cute, and I fell forward,” she says. Some are dreading or altogether rejecting the idea of going back to pumps after months in house shoes, sneakers and flats. Others can’t wait to get dressed up again and wear their favorite heels, discomfort be damned. Sales of high-heeled shoes fell 45% in 2020, according to market researcher NPD Group, as women had nowhere to wear them. Many women had already been moving away from heels pre-Covid with the growing casual-fashion trend.
Persons: Najay Roache, Vince, , , Beth Goldstein, Louboutin, Stuart Weitzman Organizations: NPD Group, Brands Locations: New York City, quarantines
We're living in the golden age of pajamas
  + stars: | 2021-04-13 | by ( Bartie Scott | ) + 0.00   time to read: +7 min
If you splurged on a matching pajama set for the first time over the last year, you're not alone. Even the ultrawealthy got in on the action, fueling a boom in $1,000 pajama sets for the 1%. The durability of this golden age for modern pajamas may even be a part of the new normal as the world reopens. That will depend on how long "skin hunger" and disruptions of "scheduled spend" continue to change the shape of the economy. A spokesperson for the company said shoppers are on the hunt for "silk pajamas," "pajama sets," and "satin pajamas" — all of which had triple-digit month-over-month growth last year and still sit in the top searches today.
Persons: Vanessa Diaz, Raisin Bran, Diaz didn't, Diaz, she'd, Ashley Merrill, Merrill, Lorna Hall, Anne Read Lattimore, Cassandra Cannon, Hall, Jil Sanders, you've Organizations: NPD Group, Target, Lorna Hall of London, Hall Locations: Peruvian, Mexico, Los Angeles, chihuahua, pima, Paris
The hottest fashion of the pandemic is the pajama set
  + stars: | 2021-04-11 | by ( Bartie Scott | ) + 0.00   time to read: +7 min
If you splurged on a matching pajama set for the first time over the last year, you're not alone. Those fortunate enough to maintain an income shifted "scheduled spend" from normal routines to indulgences. Even the ultrawealthy got in on the action, fueling a boom in $1,000 pajama sets for the 1%. That will depend on how long "skin hunger" and disruptions of "scheduled spend" continue to change the shape of the economy. The pandemic disrupted our 'scheduled spend'Among a certain set of customers, Hall told Insider, the pajama splurge could be the result of "lots of cash, nowhere to go."
Persons: Vanessa Diaz, Raisin Bran, Diaz didn't, Diaz, she'd, Ashley Merrill, Merrill, Lorna Hall, Anne Read Lattimore, Cassandra Cannon, Hall, Jil Sanders, you've Organizations: NPD Group, Target, Lorna Hall of London, Hall Locations: Peruvian, Mexico, Los Angeles, chihuahua, pima, Paris
It's part of a broader trend that people are calling "hot vax summer." It's part of a broader trend that some are calling "hot vax summer." Enter what many are calling "hot vax summer," a time of general hedonism following this time of mass isolation. Hot vax summer has also been endorsed by brands, most notably Suit Supply, which put out a raunchy advertisement showing hot people licking each others' faces. TOLGA AKMEN/Getty ImagesA 'peacocking effect'But there can be no hot vax summer if we're all still dressed in baggy sweatshirts, and retailers are already preparing for what's ahead.
Persons: TJ Maxx, Joe Biden, Insider's Julia Naftulin, de Jong, Insider's Kate Taylor, TOLGA AKMEN, Sonia Syngal, Richard Hayne, Hayne, Abha Bhattarai, there's, Marshal Cohen Organizations: Retailers, Ross Stores, Urban Outfitters, Free People, NPD Group, Post Locations: Nordstrom, Chicago, Washington
While food insiders know of Olo, Glass is excited to let Wall Street know that Olo can be a key player in the ever-important e-commerce world. Going publicBefore the pandemic, Olo's valuation was rumored to be hovering around $1 billion, according to Bloomberg. During the pandemic, Glass said his main focus was helping restaurant clients serve diners in a safe and contactless manner. The NPD Group research shows that delivery orders represent 11% of off-premise orders. Unlike third-party delivery, Olo's platform marries restaurants with a vast and complex vendor market.
Persons: Noah Glass, Glass, Scott Kessler, Kessler, Roger Lipton, Lipton, we've, Olo, it's, Eric Kurss, Red Robin Organizations: New York Stock Exchange, Bridge, Bloomberg, NPD Group, Glass, Boston University, &, Shake
The husband-wife duo behind the pajama brand Desmond & Dempsey saw increasing sales last year. Desmond & Dempsey, which sells pajama sets for about $150, saw sales skyrocket during the pandemic. Last year, the Washington Post, citing the Adobe Digital Economy Index, reported pajama sales increased over 140% in April 2020, compared to the month prior. It started an initiative that allowed people to nominate a friend to receive a pair of Desmond & Dempsey pajamas. Already, Desmond & Dempsey has collaborated with H&M and has expanded into slippers, nightgowns, robes, eye masks, and even diapers.
Persons: Desmond, Dempsey, Joel Jeffery, Molly Goddard, Jeffery, Brandi Neal, Technavio, Jeffrey doesn't, Jeffrey, Goddard, Andreas Lenzhofer, Olivia Von Halle, Dagsmejan, Dempsey's, Misha Nonoo, Bergdorf Goodman, Selfridges Organizations: pajama, Washington, Adobe, Dempsey Adobe Analytics, NPD Group Locations: London, United States, precariousness, Zurich
The CEO and founder of Epic Games has had a knack for picking the right battles while also shoring up his company's independence. If a player downloaded Fortnite from Apple's App Store, for example, Apple would receive a 30% cut of all in-app purchases. Both Google and Apple promptly removed Fortnite from their stores, alleging the company violated their terms of service. "However, we welcome the opportunity to continue our discussions with Epic and bring Fortnite back to Google Play," it added. But Epic Games has little interest in an IPO.
Persons: Tim Sweeney, Sweeney, Fortnite, Apple, gesturing, Epic's, Unreal —, Matthew Ball, What's, didn't, Tim, Ryan Engle, it's, John Bergmayer, Mitch Stoltz Organizations: CNN, Epic, Apple, Google, CNN Business, Liberty, iOS, Apple Developer Program, Potomac Computer Systems, Star Wars, Gaming, Steam, NPD Group, Sony, Roblox, Unreal, Facebook, Spotify, Netflix, Amazon Studios, Fortnite, Apple Inc, Washington , D.C, Electronic Frontier Foundation Locations: Maryland, Los Angeles , California, Washington ,
Consumers aged 65 and up are the fastest growing group of online shoppers, the Washington Post reported Friday. Data from the NPD Group shows the demographic spent 49% more online in 2020 than the prior year. During the pandemic, a new trend emerged: baby boomers taking over online shopping. The new buying trend is likely to stick, even after the pandemic ends, the Washington Post reported, citing analysts. They also took up online shopping, with some learning the ropes for the first time, the Washington Post reported.
Persons: Read Organizations: Washington Post, NPD Group, Consumers, NPD, Centers for Disease Control Locations: , COVID
The pandemic forced thousands of restaurants to work with third-party delivery operators for the first time. But the industry quickly discovered, as did consumers and local governments, that delivery companies charged hefty profit-hurting fees that restaurants could ill-afford during a pandemic. The pandemic opened the door for delivery startups and online ordering platforms to sway restaurant companies to try their cost-efficient online ordering and delivery platforms. But for third-party delivery operators like Uber Eats, DoorDash and Grubhub, 2020 was a pretty good year. In California, a new law goes into effect Jan. 1 that bans third-party delivery companies from delivering meals from restaurants without consent.
Persons: Cowen, Uber, Read, they'll, Gary Stibel, Mike Whatley Organizations: NPD Group, Revenue, New England Consulting, Technologies, National Restaurant Association, NRA Locations: California
Breakingviews - Corona Capital: Satellites, Shoes
  + stars: | 2021-01-15 | by ( Breakingviews Columnists | ) + 0.00   time to read: +6 min
LONDON/NEW YORK/HONG KONG (Reuters Breakingviews) - Corona Capital is a column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights. OneWeb now claims $1.4 billion of funding, including $50 million from America’s Hughes Network Systems, which implies SoftBank is putting in $350 million. The charitable interpretation is that Son always liked OneWeb, but his hands were tied because of a Covid-19 cash crunch. Even so, the risk is that SoftBank gets stuck funding an asset that has historically incinerated cash. OneWeb, which has launched 110 of its planned 650-satellite constellation, will need over $2 billion to finish the job.
Persons: Regis Duvignau, OneWeb, SoftBank, Liam Proud, Anna Szymanski, Xi Jinping, queasy, Katrina Hamlin, Ed Cropley, Christian Klein, Klein Organizations: Reuters, Corona, Airbus, REUTERS, telco Bharti Global, America’s Hughes Network Systems, U.S . Commerce Department, NPD Group, South African Breweries, Anheuser, Busch InBev, SAB, SAP, ServiceNow Locations: HONG KONG, Blagnac, Toulouse, France, OneWeb, U.S, China
Despite all the hype around "Cyberpunk 2077" and the PlayStation 5, two "Call of Duty" games dominated sales for the year — and Nintendo's Switch was the best-selling console. Though "Animal Crossing: New Horizons" launched all the way back in March 2020, it was unable to beat out the goliath double-header of "Call of Duty" games. 2020 was the twelfth year in a row that the annual game sales chart was topped by a "Call of Duty" game, the report said. The game is only available on Nintendo's Switch console, unlike "Call of Duty," which is available on five platforms. Not only was the Switch the best-selling game console of 2020, but Switch sales in 2020 were the second best for any game console in any year.
Persons: Madden, CHARLY TRIBALLEAU, Mat Piscatella, Ben Gilbert Organizations: PlayStation, NPD Group, Warfare, Nintendo, NPD, Sony PlayStation, Kanagawa, Getty, Nintendo Wii, Twitter Locations: Kawasaki, AFP
Kostas Mandilaris has a simple philosophy when it comes to dealing with customers of his footwear company The Noble Shoe. In 2020, the 32-year-old's business earned over $400,000 in sales, according a screenshot of his seller dashboard viewed by Insider. About 90% of The Noble Shoe's sales derive from the US. Founded in June 2019 in Stockholm, Sweden, The Noble Shoe has thrived during the pandemic, even as interest in formal apparel tanks. NPD Group estimates that dress shoe sales fell 71% year-over-year alone during the second quarter of 2020.
Persons: Kostas Mandilaris, Mandilaris, — Carlos Santos, Jones, Paolo Scafora —, Noble Organizations: Crockett, NPD Group, Misiu Locations: Canada, Australia, Singapore, Hong Kong, Stockholm, Sweden, London, Europe, Instagram
"The challenge that we face is the same as basically every small business across the country," Suarez told NBC News. According to Foursquare, foot traffic in all coffee shops across Washington, D.C., is still down over 60 percent since March. “That would be our busiest store just because of where it was, foot traffic, everything,” Lyman told NBC News. There are people that have gone out.”Some New York City coffee shops that have shut their doors for good include The Skilled Archer, By Name, Caféine, and Chocolateria, according to Eater NY. Some coffee shops in residential neighborhoods have seen in-store sales soar this year, as weary work-from-home professionals seek out a break from the sofa-to-fridge routine.
Persons: Michael Haft, Harrison Suarez, Suarez, , Darren Seifer, Birch, Benjamin Kanes Birch, Jeremy Lyman, Lyman, ” Lyman, “ It's, we've, Kevin Johnson, Haft, Saint Frank Coffee, Saint Frank’s, Kevin Bohlin, “ We’ve, ’ ”, ” Bohlin, Organizations: U.S, Marines, Compass Coffee, D.C, Compass, NBC News, Washington , D.C, and Beverage Industry, NPD Group, NBC, Birch Coffee, Montefiore, Sixth, Saint Locations: Washington, cafés, Washington ,, U.S, New York City, San Francisco, Russian Hill
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