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Warby Parker Boosts Revenue 12% in 2023, Plans 40 New Stores this Year

Retail TouchPoints

million generated in 2022. Warby Parker, which began life as a pure-play DTC retailer, opened 40 stores in 2023 for a total of 237 and plans to open another 40 stores this year. In only its second full year as a public company, Warby Parker generated net revenue of $71.7 million in 2023, 12% higher than the $669.8

Planning 273
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Rent the Runway Plans to Sacrifice 2023 Revenue to Meet 2024 Profitability Goal

Retail TouchPoints

Rent the Runway has lowered its revenue expectations for 2023, now saying it plans to at least match 2022 revenues of $296.4 This number is approximately 9% to 10% lower than original projections, which forecast 2023 revenue in the range of $320 million to $330 million.

Planning 258
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Ecommerce Marketing Lessons from Q4 2023 

Retail TouchPoints

Still, I believe that had more to do with the sustained consolidation of ad budgets on the major platforms as marketers reallocated marketing spend in the post-IDFA (identifier for advertisers) and soon, post-cookie world. from 2022, while Cyber Week overall sales were $38 billion, an increase of 7.8% from 2022 to $222.1

Marketing 269
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3 Expert Perspectives on Why Margin, Experience and Loyalty Will be Key to Winning Holiday 2022

Retail TouchPoints

Inflation and the threat of recession are defining aspects of the 2022 holiday season, but the potential bad news will do little to dampen a potentially successful — if not extraordinary — season. Retailers are planning to cut back in one area: marketing. Shoppers are Ready to Spend, but Retailers Need to Bring Them in.

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Two Top Gap Executives Depart, Retailer Eliminates Growth Officer Role

Retail TouchPoints

Gap has now identified a total of $550 million in potential savings annually, and the company believes there are still more opportunities to optimize its marketing spend and technology investments in the coming years. Gap’s results for fiscal 2022 as a whole also disappointed. 28, 2023, were $4.2 Net sales of $15.6

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Foot Locker Deepens Relationship with Adidas as Both Retailers Focus on Digital Offerings

Retail TouchPoints

The deepened relationship will combine new product development, exclusive Foot Locker positioning, increased product allocations, shared marketing spend and an elevated premium presence across Foot Locker’s entire portfolio of banners, with a focus on key cities and communities that the companies jointly serve.

Apparel 269
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Have Temu and Shein Thwarted Wish’s Hopes of a Comeback?

Retail TouchPoints

A few days before reporting Q2 earnings, Wish also announced plans to cut approximately 34% of its workforce, or about 255 employees, in order to “refocus the company’s operations.” The company marked notable improvements in its delivery speeds in Q2, with average time-to-door improved by six days compared to 2022 in Wish’s six major markets.