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Digital Brands Groups Moves into Physical Retail with Plans for 50 Stores

Retail TouchPoints

Digital Brands Group (DBG) — the parent company of a collection of digital-first lifestyle brands including Bailey 44 , Harper & Jones and Sundry — will open its first physical store in March 2024 and plans to have 50 locations within the next several years. million in annual revenue and annual cash flow of over $500,000 a year.

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2023: The Year of Customer Retention? Retail Tech Predictions

Retail Assist

Metaverse mania made headlines in 2022, most notably amongst the luxury fashion houses and big global brands looking to find new DTC opportunities and build loyalty amongst Gen Z and Alpha. Marketplaces enjoyed a surge in 2022 and this trend is likely to continue. Greenwashing took centre stage in 2022.

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Bed Bath & Beyond to Close 150 Stores, Cut 20% of Workforce

Retail TouchPoints

27, 2022, has announced a combination of store closures and layoffs designed to reduce its SG&A (selling, general and administrative) expenses by $250 million in fiscal 2022. As of May 28, 2022, the retailer operated a total of 955 stores, including 769 Bed Bath & Beyond locations.

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5 Top Customer Service Articles of the Week 8-29-2022

Hyken

(Atlanta Small Business Network) The biggest marketing cost most small businesses face is that of acquiring new customers. Few business owners, however, pay anywhere near as much attention to customer retention, even though keeping an existing customer for longer is a far easier way to grow revenue.

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Bed Bath & Beyond Posts 28% Sales Decrease, Prepares for Further Drops as it Right-Sizes Inventory

Retail TouchPoints

Bed Bath & Beyond continued to struggle in Q2 2022 with the retailer’s sales falling 28% in the quarter, which ended Aug. The company is aiming to weather recent cuts and net losses, which reached $366 million for Q2 2022, with the help of a $375 million loan it took out in late August. million members within months of its launch.

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Adore Beauty founders to step back from management roles

Inside Retail

The co-founders said they remain committed to the company and its future growth prospects, and they have no plans to sell their shares. However, the company said that the year-on-year comparisons from Q3 2022 were challenging due to the high levels of Omicron and mandated isolation in the prior period, which drove consumption online.

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Wish’s New CEO has his Sights Set on a Comeback — Here’s How He Plans to Do it

Retail TouchPoints

Here’s how he plans to do it. Revenue in Q2 2022, which ended June 30, was down 80% YoY to $134 million , and quarterly users were at a record-low 23 million , far less than the 115 million of Q2 2020. The Comeback: A Three-Part Action Plan. Bargains and Discovery Draw Shoppers. A helmet for your chicken, just $3!