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Home Depot Boosts Pro Offering with $18.25B Acquisition of SRS Distribution

Retail TouchPoints

The Home Depot is acquiring building products distributor SRS Distribution for $18.25 billion in a bid to accelerate the growth of its pro offerings. The deal, which is expected to close by the end of the retailer’s fiscal 2024 in late January 2025, is subject to customer closing conditions and will be funded through a combination of cash and debt. SRS serves several verticals of residential and commercial professionals, including roofers, landscapers and pool contractors.

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Pop Mart profit more than doubles as global expansion continues

Inside Retail

Collectible toy retailer Pop Mart says its net profit increased by more than 100 per cent last year. The growth is largely due to expansion in multiple markets, especially in Asia where the ‘blind box toy’ specialist’s next expansion plan is into Vietnam with the opening of its first two stores. The stores, set to open in May, will be located in District 7 of Ho Chi Minh City and the tourist resort destination Ba Na Hills near Danang, the president of Pop Mart International, Ju

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Staples Simplifies Battery Recycling with New At-Home Program

Retail TouchPoints

To mark Earth Month in April, Staples is launching a battery recycling program that has already seen recycling rates soar from less than 50 batteries per week to thousands per location in test stores. Beginning in April, the retailer will offer a free battery recycling box (while supplies last), in which consumers can collect batteries at home and return them to Staples for free recycling.

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Alquemie Group names Scott Evans as its new CEO

Inside Retail

Alquemie Group has appointed Scott Evans as its new Group CEO, succeeding Sacha Laing who is stepping down after five years in the role. Evans’s appointment is expected to take effect in June, while Laing will remain working at Alquemie until mid-April. Evans has spent the past 10 years as CEO and MD of Mosaic Brands, with Erica Berchtold recently announced as his successor.

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From Data to Decisions: Maximizing Retail Potential with AI

Speaker: David Azoulay, Marc Stracuzza, Román Tejada, and guest speaker Sucharita Kodali

Imagine a retail landscape where every interaction is personalized, every decision informed, and every opportunity maximized 🤔✨ Join us for an exploratory journey into the heart of AI-driven retail innovation. We’ll unveil the transformative potential of AI and data analytics in shaping the future of omnichannel personalization and e-commerce.

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Fisker Shares Suspended as EV Company Navigates Turbulent Future

Retail Wire

Fisker, an electric vehicle start-up based in California, halted shares just after the company alerted investors in its earnings report in March that it might not have money to make it through the year.

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Captain’s Choice: UK Gentleman’s grooming brand launches in India

Retail Focus

Premium men ’ s grooming brand Captain Fawcett is set to expand into India, landing in an industry that reached US$ 2.1 billion in 2023. The business expects the India opportunity to grow to a six-figure revenue in the next few years. The business, headquartered in King ’ s Lynn, Norfolk, was founded by Richie Finney following two decades working in the British film industry.

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Miniso Continues U.S. Expansion with Plans for 12 New Stores

Retail TouchPoints

China-based lifestyle retailer Miniso is continuing its rapid expansion across the U.S., with plans for stores in a dozen new markets through a partnership with mall operator CBL Properties. The first wave of store openings started in November 2023 at malls in Roanoke, Va. and Winston-Salem, N.C., followed by a January 2024 opening in Myrtle Beach, S.C.

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Fashion Enthusiasts Seek Algorithm-Free Shopping Inspiration on Substack

Retail Wire

Substack, an online platform that provides publishing, payment, analytics, and design infrastructure to support subscription newsletters, has become the go-to destination for young fashion enthusiasts wanting to escape algorithms.

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Canada Goose cuts corporate workforce by 17%, shakes up executive roles

Retail Dive

As part of a DTC focus, the brand said about a year ago that it would double its footprint within five years, but some analysts anticipate that slowing.

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Ryman owner Theo Paphitis urges government to plug tax loopholes used by fast fashion giants

Retail Gazette

Ryman owner Theo Paphitis is the latest British retailer to call on the government for a clampdown on a tax loophole used by fast fashion giants such as Temu and Shein. The retail tycoon, who also owns Robert Dyas and Boux Avenue, said there was a “big slug” of companies avoiding customs bills in the UK by shipping individual orders directly from countries like China.

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The Personalization Playbook: 2024 Strategies

Did you know—74% of IT leaders are looking to improve their tech stack to offer better personalization? It’s impossible to ignore the importance of personalization, but it comes with challenges. How do you do it with a tight budget? What about customer privacy and the use of data? The Personalization Playbook is packed with research and insights from Orium, Talon.One, and Bloomreach and gives IT leaders answers to these tough questions, helping them shape 2024 strategies for personalization.

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2024 Brick-and-Mortar Openings will Bring Untuckit Close to 100-Store Mark

Retail TouchPoints

Untuckit will open at least 14 new brick-and-mortar locations this year, with the first seven set to open by May in California, New York, New Jersey, Florida and Georgia, according to multiple media reports. The apparel retailer currently operates 84 stores across the country. “Untuckit stores continue to be the backbone of our company,” said Founder Chris Riccobono in an interview with Yahoo!

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Solomon Lew plans to spin off Peter Alexander and Smiggle next year

Inside Retail

Retail billionaire Solomon Lew has announced plans to spin off two major brands Peter Alexander and Smiggle from his public company Premier Investments next year, as part of a global expansion strategy. Children’s stationery label Smiggle is expected to become a separately listed company by the end of January, while the demerger of pyjamas retailer Peter Alexander will also take place later next year.

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Lawmaker Queries FDA Over Neuralink Inspection

Retail Wire

U.S. Representative Earl Blumenauer, deeply embedded in health policy, has directed inquiries toward the Food and Drug Administration (FDA). His concern? Why the FDA didn't scrutinize Elon Musk's Neuralink before greenlighting human trials for its brain implants.

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Macy’s closures a win for off price

Retail Dive

The biggest beneficiary of the department store’s plan to shrink its footprint is TJX, which runs T.J. Maxx and other retailers, analysts say.

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Brick & Mortar Retail Relevance: How to Stay Ahead of the Curve

Speaker: Jay Black, Senior Account Executive

Let's set the record straight: in-store retail isn't dead - it's evolving! Faced with the digital age and the demands of omnichannel shopping, some retailers are thriving while others are struggling to adapt. Join Jay Black in this exclusive session as he explores the strategies that set successful stores apart, including: Crafting unique and unforgettable in-store experiences 🛍️ Mastering the art of retail demands 🛒 Navigating inventory challenges in today's climate 📦 an

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Ocado faces shareholder revolt over potential £15m CEO bonus

Retail Gazette

Ocado is facing a potential shareholder revolt over executive pay after an influential proxy adviser has encouraged investors to vote against the group’s new bonus scheme that could see CEO Tim Steiner receive as much as £14.8m. Institutional Shareholder Services (ISS) has recommended that shareholders vote against the online grocer’s new remuneration policy and performance share plan at next month’s annual meeting due to “material concerns” over the sum of money executives cou

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M&S to Host Reality Competition Series to Find its Next Fashion Designer

Retail TouchPoints

British retailer Marks & Spencer (M&S) is on the hunt for a new fashion designer, and the search will play out on screens across the UK in a new reality TV series set to arrive on ITV1 and ITVX this fall. M&S: Dress the Nation (working title) will see 10 candidates compete in a series of design competitions over the course of six weeks, with the winner securing an in-house junior design role at M&S.

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MCoBeauty CEO Shelley Sullivan on bringing ‘masstige’ makeup to the US market

Inside Retail

Australian luxe-for-less beauty brand MCoBeauty launched into the US market this week and is now stocked in over 1,800 Kroger Co stores. Shelley Sullivan, founder and CEO of MCoBeauty, speaks to the challenges the masstige beauty brand faces in entering a new international market and how a partnership with Australian pharmacy Chemist Warehouse helped it become “Australia’s fastest-growing beauty brand”.

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FTC Reveals How Grocery Retailers Survived Pandemic Supply Woes

Retail Wire

Large grocery retailers didn't just weather the storm of pandemic-related supply chain disruptions; they capitalized on them, as per the recent findings of the Federal Trade Commission (FTC).

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How to Stay Competitive in the Evolving State of Martech

Marketing technology is essential for B2B marketers to stay competitive in a rapidly changing digital landscape — and with 53% of marketers experiencing legacy technology issues and limitations, they’re researching innovations to expand and refine their technology stacks. To help practitioners keep up with the rapidly evolving martech landscape, this special report will discuss: How practitioners are integrating technologies and systems to encourage information-sharing between departments and pr

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Can Your Convenience Store Compete Against Chain Stores?

National Retail Solutions

Can your convenience store survive the big chains? Learn essential strategies to carve out your niche and build a loyal customer base. The post Can Your Convenience Store Compete Against Chain Stores? appeared first on National Retail Solutions.

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Ocado sales surge as it wins more customers

Retail Gazette

Ocado first quarter sales have surged 10.6% thanks to an uptick in customer numbers as it continues its investment into strengthening its product offering. The online grocer’s revenue jumped to £645.3m in the 13 weeks to 3 March, up from £583.7m, as active shopper numbers rose 6.4% to over 1 million at the end of the period. Volumes increased 8.1% to £242.1m with average basket value up 2.1% at £125.47m.

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NY Times, WeightWatchers, GE Among First to Embed Instacart Fulfillment Tech via New API

Retail TouchPoints

Instacart has launched the Instacart Developer Platform (IDP) , a publicly available API program that will enable third-party companies to integrate Instacart’s fulfillment and delivery functionality into their websites and apps. The new program allows developers and companies with app- and web-based experiences to integrate with Instacart’s marketplace, allowing users to order the products mentioned or needed (e.g. for meal planning or cooking content, for example). “With the launch of th

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Brandbank Group CEO Peter Halkett departs after nine months

Inside Retail

Brandbank Group CEO Peter Halkett has vacated the position just less than a year after his appointment , according to his LinkedIn profile. The Australian Financial Review (AFR) also reported that the fashion company has already informed its suppliers and employees that a new CEO will be named in due course. A retail industry CEO told the AFR that there was “no chemistry” between Halkett and the company.

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Exploring the Advantages and Hurdles of Direct Store Deliveries

Direct Store Delivery, or DSD, is a common practice among global suppliers and retailers – like PepsiCo, Frito Lay, CVS, and Dollar General – and its popularity is growing, with the global DSD market expected to reach $1.19 trillion by 2027. Download this eBook for exclusive insights into direct store deliveries, challenges, benefits, and future trends.

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Restaurant Chains in California Lay Off Workers Ahead of Fast-Food Wage Rise

Retail Wire

Fast-food chains in California are axing jobs to get ahead of the wage rise for the sector determined by a Californian state law that will take effect in April.

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Why the latest TikTok ban attempt is different — and what it means for marketers

Retail Dive

A ban could benefit Meta, weakening competition and options for advertisers, while a potential suitor will need to be well-versed in data management.

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Asda pulls the plug on electric vehicle charging points

Retail Gazette

Asda has significantly reduced the amount of electric vehicle (EV) charging points available at its stores, despite competitors heavily investing in the technology. Recent data from RAC found that the supermarket chain has deactivated over two-thirds of its EV chargers. At the start of 2023, Asda had 165 chargers but now only has 46 in operation. Following the termination of its partnership with EV charging company BP Pulse, Asda now only has functional chargers available at 2% of its stores, Th

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Exclusive Q&A: Queer Executive Seeks Genuine Corporate Support, not ‘Rainbow-Washing’

Retail TouchPoints

You may recall that last year, Target caught a lot of flak from LGBTQ+ groups for moving (and in some cases removing altogether) Pride-themed merchandise from prominent locations in its stores. The retailer cited threats to the safety and well-being of its employees after “customers knocked down Pride displays in some stores, angrily approached workers and posted threatening videos on social media from inside the stores,” as reported by the AP.

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Mapping Digital Transformation: Retail’s Strategic Shift

Speaker: Jennifer Wright, Michael Scholz, Jasmin Guthmann, and Scott Canney

Digital transformation in retail is so much more than new technology. You need to get your whole organization, from entry-level workers to executives, on board with the new tech, new skills, and culture changes that digital transformation brings. Leading this mindset shift can be a daunting task… but that’s where this webinar comes in! Join our panel of experts as they guide you through the challenges of digital transformation, preparing you to avoid common mistakes and make the most of incredib

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Coles has plan to enhance customer experience through AI

Inside Retail

Supermarket chain Coles says it is looking to scale artificial intelligence across its operations to enhance customer experience. In one example, partnering with Microsoft, the supermarket chain is adopting a “computer vision feature” that accurately scans fresh produce through plastic bags. Coles also deployed the technology to monitor deli counters, alerting staff when a customer approaches to ensure assistance.

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False ALDI Bacon Rumors Have Been Debunked

Retail Wire

Social media has been abuzz with claims that ALDI's bacon isn't what it seems. But let's set the record straight.

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Securing the LLM Stack

Cisco Retail

A few months ago, I wrote about the security of AI models, fine-tuning techniques, and the use of Retrieval-Augmented Generation (RAG) in a Cisco Security Blog post.

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Thousands of Asda staff hit by payroll glitch

Retail Gazette

Nearly 10,000 Asda workers have received incorrect payslips due to an IT glitch. The supermarket chain said in an internal memo that thousands of its hourly paid staff had been affected by the error, with union bosses suggesting some had been underpaid. The Telegraph reported that one Asda employee claimed as much as two weeks’ worth of wages removed from some colleagues’ March payslips.

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Planning the Architecture of Your Modular DXP

Are you considering moving away from a monolith platform and over to composable architecture? Join experts from Google Cloud, GroupBy, and Orium as they discuss the benefits of moving to a modular digital experience platform. In this masterclass, uncover key indicators that show your brand is ready for a modular DXP, and learn how to lay the foundation for composable commerce.