As Kohl’s management considers acquisition offers from 20+ potential suitors, one has emerged at the head of the pack, according to a report in the New York Post: Canadian retailer Hudson’s Bay Co., owner of Saks Fifth Avenue and the eponymous retail chain. A decision will likely be announced at a May 11 shareholder meeting.
Sephora continues to expand same-day delivery to customers’ doors, providing service in as little as an hour thanks to a new partnership with delivery service Shipt, which is owned by Target. The major beauty retailer already has a same-day delivery partnership with Instacart, on top of its own Beauty on Demand service.
Bed Bath & Beyond is being urged by activist investor and co-founder of Chewy.com Ryan Cohen to revamp its strategy and explore various strategic alternatives, including spinning off the Buybuy Baby chain or selling the entire company, according to the Wall Street Journal.
The challenge being laid today is to understand that in-store fulfillment is a workaround, not a scalable solution, for retailers penetrating further into ecommerce. If your physical shoppers have a bad experience because of technological processes you’ve enabled, you have failed them in the overall customer journey.
Amazon revealed its plans to close all 68 of its bookstores, pop-ups and shops selling items like toys and home goods in the United States and the United Kingdom, the retail and ecommerce giant told Reuters, to concentrate more on its grocery business and a coming department store concept.
Sports apparel retailer Foot Locker continues to be hampered in its results by the ongoing shift of major supplier Nike to a direct-to-consumer model, with Foot Locker reporting on its shifting revenue mix during its fourth quarter earnings report. The sneaker giant remains its largest supplier, but at a smaller scale.
Home Depot has named president and COO Ted Decker, a 22-year veteran of the company, as its new CEO, replacing the retiring Craig Menear, who has guided the company through a phenomenal growth period, especially during the pandemic, while making over its supply chain operations.
Retailers lost $218 billion to ecommerce returns in 2021, at a rate of 20.8% of goods sold, according to a survey conducted by Apriss Retail for the National Retail Federation, up from 18.1% in 2020, while total retail returns came back at a rate of 16.6% or $761 billion, up from 10.6% last year.
How can retailers and CPG brands ensure successful collaboration to boost profits, protect margins and adapt to the digital landscape? Use these best practices in agreement lifecycle management to create an ecosystem based on trust and ongoing communication.
Amid activist pressure, struggling retailer Kohl’s has been approached by two different private equity firms with buyout offers, the company has acknowledged based on media reports in CNBC and the Associated Press, valuing its stock at up to a 39% premium to Friday’s close.