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Report: Lord & Taylor to Return as Online-Only Retailer in April

Retail TouchPoints

Lord & Taylor will return from bankruptcy as a digital-first retailer in April under its new owner Saadia Group, according to multiple sources. Known as the oldest department store in the U.S., Lord & Taylor has had a rocky couple of years.

Returns 279
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Macy’s store closures: a necessary step or the wrong move?

Inside Retail

This week, Macy’s announced plans to shut down 150 “underproductive” stores, more than one-fifth of its department store assemblage, over the next three years. billion acquisition offer from an investor group, a proposition that the retailer ultimately rejected due to a lack of a viable financing plan.

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Macy’s raises annual forecast as shoppers return to stores

Retail Wire

has raised its annual sales and earnings forecast based on a number of factors: stores operating on pre-pandemic terms, pent up shopping demand, increased disposable income and optimism around personal finances and the direction of the U.S. The department store operator announced that same-store sales jumped 63.9

Returns 100
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Festive gatherings and holiday bookings boost hospitality and travel in December, while utility bills continue to impact finances

A1 Retail

Similarly, the rush to buy gifts and Christmas party outfits benefitted clothing and department stores, which returned to growth in December, rising 1.5 It seems this year shoppers returned to the high street to make the most of the festive period despite the cost-of-living challenges.”. percent and 2.8 percent and -1.5

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Retail Returns Increased to $761 Billion in 2021

VMS

Retailers expect more than $761 billion in merchandise sold last year to be returned by consumers, according to a report released today by the National Retail Federation and Appriss Retail. The 2021 total rate of returns (16.6 percent during 2020, but online returns are in line with recent years at an average of 20.8

Returns 52
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How Natori Used AI to Sharpen Retargeting and Achieve a 943% ROAS

Retail TouchPoints

For example, by specifically retargeting those customers who had added to their online carts over the previous 30 days, and spotlighting the specific items they had browsed or put into their carts, Natori achieved a Return on Ad Spend (ROAS) of 943% in Q3 2023. It all began with Josie creating lingerie on her living room floor.)

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Macy’s Cuts 3,900 Corporate Jobs In Cost Restructuring Effort

Retail TouchPoints

The retailer expects that most of its furloughed employees will return to work beginning July 5. The coronavirus’ impact has forced several department store retailers into Chapter 11 bankruptcy and even liquidation in 2020, including JCPenney , Neiman Marcus and Lord & T aylor.