Apparel retailer Forever 21 is considering a bankruptcy filing as efforts to restructure its debt have run dry. CNBC reported that Forever 21 had been exploring restructuring options to avoid liquidation as its business struggles continue, but those efforts have stalled and a Chapter 11 filing is possible.
Target reported strong Q2 performance, with 34% growth in ecommerce sales, nearly 75% of which was attributable to its same-day order fulfillment strategy including buy online pickup in store, curbside pickup and local delivery. The retailer beat expectations on earnings, comp growth and revenue, and raised 2019 guidance.
The Nordstrom family is looking to gain a majority stake in the luxury retail mainstay that bears their name but is facing opposition from board members who see them as part of the problem, according to a report in the Wall Street Journal. Other board members are reportedly seeking an outside director to replace the family members.
As an industry, retail’s reputation for providing software security has taken some hits. The top 15 data breaches of the current century include Target in 2013, with account information on an estimated 110 million customers compromised; TJX in 2006, with 94 million credit cards exposed; and Home Depot in September 2014, with about 56 million customer credit/debit cards compromised. Here is a look at how retailers can beef up their security to ensure that data breaches are a thing of the past.
To find an optimal balance between online and in-store shopping, forward-thinking retailers are reevaluating the concept of brick-and-mortar and reinventing the customer experience. This has led to a broader view of how to get the most value from physical spaces. Learn about the latest ways physical and digital are converging.