Oversized fulfillment for ecommerce remains a black hole for many. Pickup/delivery schedules, assembly and costs all friction factors. How do you find more efficiency by reducing costs and what are the customer expectations? Retail executives discuss the issue in our inaugural Think Tank Forum, “Solving for Oversized Fulfillment.”
Hudson's Bay Company
The global sleep company Casper, in a crowded field of mattress-in-a-box companies going direct to customer it helped spawn, has been a darling of the business and lifestyle press, That is, until it recently filed for an IPO, and pundits and the business press attacked the CEO for his obsession with a unicorn valuation.
Hudson’s Bay Co., parent of Saks Fifth Avenue, is being taken private in a share buyback plan, paying a 65% premium over the original offer in June, according to various media reports. Regulators and shareholders need to formally approve the deal later this year.
In a surprising move, Hudson’s Bay Company is selling the storied Lord & Taylor chain, which dates to 1826 in New York, to fashion rental subscription startup Le Tote for a relatively cheap $75 million upfront, and another $25 million via a promissory note in two years.
Amazon is reportedly experimenting with robotic arms that can visually identify items on a conveyor, pick them up using a compressed air vacuum gripper and place them on a table or shelf. At the same time the company says publicly the state of the art isn’t there yet to handle the wide variety of products it stores and sells.
Hudson’s Bay Company said it plans to close up to 10 Lord & Taylor stores over the next year, including its New York City flagship on Fifth Avenue, to focus on its digital presence. Overall Hudson’s Bay reported a double-digit gain in online sales but a larger overall net loss in the first quarter.
Rue La La is acquiring Gilt Groupe from Hudson’s Bay Company, which itself just purchased it in 2016 for $250 million, in a preservation merger of the two largest flash sale sites. Terms were not disclosed.
Neiman Marcus announced it would no longer be up for sale as it looks for other “strategic alternatives” to stay afloat in this ever-changing retail climate. See what lead the company to make this decision and what other plans it has going forward.