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ICYMI: L.L. Bean, looking to expose more shoppers to its iconic mix of outdoor apparel and gear, is blowing out omnichannel: expanding wholesale, opening U.S. and Canadian stores and launching a French-language website.
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week of 8/11/23 |
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UPS reported a 10.9% dip in second quarter revenue, but still hit its goal of $2.9 billion in operating profit thanks to $889 million in cost reduction compared with 2022. The company also said 1 million parcels a day were diverted to competitors due to concerns about labor negotiations. UPS also lowered full-year guidance mostly due to costs associated with the new contract, the company said.
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Recommerce platform Trove has raised $30 million in a Series E round, brining its total haul to more than $150 million as integrates its software with major 3PLs, eyes European expansion and plans to add vertical categories later this year beyond its sweet spot of outdoor and luxury retailers and brands. Trove powers recommerce for Carhartt, lululemon, Patagonia, REI, Allbirds and Levi Strauss.
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The U.S. Postal Service reported a net loss of $1.7 billion in the third quarter, placing the blame on the 2022 Postal Service Reform Act which was billed as a way to help provide relief for the USPS from the burden of unfunded retiree healthcare benefits. Parcel volume, which had been ticking up quarter by quarter at the USPS for several years, fell 2.3% to 1.7 million pieces, after dropping 5% in Q2.
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With the opportunity for so much online revenue at stake, it’s critical to delight consumers with optimized ecommerce packaging that delivers products without damage. Packaging enhancements need to go beyond functionality, using materials that can be reused or recycled. This is good for the business and the environment, and increasingly attractive to consumers.
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