Retail Dive

AUGUST 9, 2022

New companies have grown rapidly by leveraging consumer trends during the pandemic. Now, they’re dealing with the consequences amid an economic downturn.

Consumer 112

Consumer 112

Inside Retail

JANUARY 19, 2024

Jewellery retailer Michael Hill International has reported a “challenging” first half of FY24 with group sales up only 4.1 The company had to shut down six underperforming Michael Hill stores and cut a number of senior management roles to reduce operating costs. per cent year on year. million from $348.5

Promotions 264

Promotions Returns Consumer Location 264

Inside Retail

APRIL 11, 2024

We aim to cut out unnecessary costs and pass these savings onto customers.” ” The post Aldi tops customer satisfaction rankings for fourth year in a row appeared first on Inside Retail Australia. Aldi claims to have delivered $3.4 billion in savings to local consumers in 2023.

Supermarket 289

Supermarket Consumer ATS Marketing 289

Retail TouchPoints

JANUARY 2, 2024

Nike has laid out a plan to cut up to $2 billion in costs over the next three years in a bid to “accelerate future growth while building a faster, more efficient” organization, executives shared during the company’s fiscal 2024 Q2 earnings call. However, currency-neutral wholesale revenues were down 3% to $7.1

Planning 264

Planning Wholesale Promotions Management 264

Retail Times

APRIL 26, 2023

Retail Times publishes international & UK retail news covering products, data, tech, packaging, people, research, comment and more besides! The research is based on a survey of […] If you want more information Retail Times get in touch! Retail Times - Retail news, reports, analysis & comment

Consumer 40

Consumer Shopping Wholesale ATS 40

Retail TouchPoints

MAY 22, 2024

Reduced prices already are in effect for about 1,500 items, and additional cuts will be instituted over the summer. In fact, Biden’s administration has been doing more than encouraging retailers to take advantage of cooling inflation by lowering consumer prices; it’s also going after alleged price-gouging.

Grocer 226

Grocer Consumer Shopping Customer Experience 226

Inside Retail

JANUARY 28, 2024

The Federal Government’s policies to reduce inflation and cost-of-living pressures could be the last roll of the dice for thousands of struggling retailers. Insolvency specialists are forecasting a shakeout of struggling retailers facing expected tightening economic conditions and legacy debt.

Consumer 233

Consumer ATS 233

Inside Retail

MAY 13, 2024

It’s tough out there for many retailers – you don’t need me to tell you that. Retail trade figures are still steady if not slightly growing at the overall level. Unfortunately, the combination of these challenges has proved too much for some retailers. So does this mean every retailer should start launching a bunch of products?

Consumer 277

Consumer Advertising Marketing Shopping 277

Inside Retail

FEBRUARY 1, 2024

Jewellery retailer Michael Hill has been ordered to pay $2.259 million in damages, following a dispute over packaging supply with paper bag supplier Gispac. Costs and interest have also been awarded. million in damages appeared first on Inside Retail Australia. However, four new Bevilles locations were opened during the period.

Location 290

Location Management Marketing 290

Inside Retail

DECEMBER 19, 2023

A shift in Chinese retailers’ strategy toward lower-priced goods and services to win cost-conscious consumers risks embedding the country’s recent deflationary trends more permanently into the world’s second-largest economy. Huoguo’s food is also served cafeteria-style, reducing staffing costs.

Retailing Pricing 263

Retailing Pricing Discount Store Consumer Supermarket 263

Retail TouchPoints

NOVEMBER 13, 2023

Walgreens Boots Alliance (WBA) will cut 267 jobs — 5% of its corporate workforce — in a move to “streamline our operations and focus on our critical priorities,” according to a Walgreens spokesperson, who noted that “none of these roles are based at our stores.” 31, 2023, illustrate the challenges the retailer faces. billion , a 4.8%

Planning 257

Planning ATS Marketing 257

Retail TouchPoints

MARCH 24, 2023

Affected employees have been asked to find jobs at other Walmart locations within 90 days as the company makes cuts “to better prepare for the future needs of customers,” according to a company spokesperson. The retail giant is downsizing its workforce because of a reduction or elimination in evening and weekend shifts.

Fulfillment 270

Fulfillment ATS Location Planning 270

Inside Retail

MARCH 11, 2024

The cost to the budget has not yet been announced, partly because the plan is subject to consultations. It will cut compliance costs, reduce red tape, make it easier to do business, and boost productivity,” the government said in a statement, adding these tariffs do not protect Australian businesses.

Consumer 244

Consumer Planning ATS 244

Inside Retail

MAY 29, 2024

For most retailers selling online, returns generate their greatest customer service challenges and inevitably drain profitability. That’s why it is imperative to embrace an opportunity to use the post-purchase experience to simultaneously leverage profitability and drive cost savings, explains Daly.

Returns 147

Returns Merchant Services Drop-Shipping Shipping 147

Inside Retail

MAY 29, 2024

For most retailers selling online, returns generate their greatest customer service challenges and inevitably drain profitability. That’s why it is imperative to embrace an opportunity to use the post-purchase experience to simultaneously leverage profitability and drive cost savings, explains Daly.

Returns 147

Returns Merchant Services Drop-Shipping Shipping 147

Retail TouchPoints

DECEMBER 21, 2022

FedEx is planning to cut an additional $1 billion in costs, citing weak demand that led to a disappointing profit for Q2 2023, which ended Nov. Most of the cuts are expected to impact the Express unit through measures including fewer flights. Cost-cutting measures have resulted in a 6% drop in U.S.

Planning 259

Planning Management Consumer Fulfillment 259

Inside Retail

JUNE 1, 2023

Retail groups have warned of job cuts in the wake of today’s increase in the minimum wage – the size of which has been described by one industry body as “out of touch” The Fair Work Commission (FWC) has boosted the national minimum wage by 5.75 per cent from July 1, coupled with a scheduled 0.5

Supermarket 262

Supermarket Consumer ATS 262

Retail TouchPoints

JANUARY 23, 2024

8 innovation unit, according to the Wall Street Journal and other media outlets, as the retailer seeks to cut costs and find new ways to develop and test new ideas. 8 workers have moved on to other internal jobs since its founding, and added that “the responsibility to shape the future of retail is now shared by all segments.”

Shopping 268

Shopping Customer Experience ATS 268

Retail TouchPoints

DECEMBER 1, 2022

Retail industry companies are continuing to trim their headcounts: H&M cut 1,500 jobs and DoorDash announced it would let 1,250 employees go on March 1, 2023. Retailers and retail-adjacent companies alike have been cutting costs as they fight inflation.

Operating Expenses 255

Operating Expenses Planning Management ATS 255

Retail TouchPoints

DECEMBER 5, 2022

The retailer had about $121.5 Party City has been faced with both challenges that are affecting retail in general — such as inflation and higher shipping costs — and those that are unique to its business, such as a helium shortage. However, the retailer is still struggling on the sales side. “We billion in debt.

Inventory Management 276

Inventory Management Shipping Management Marketing 276

Retail TouchPoints

JUNE 29, 2023

Walgreens stores and 300 UK-based Boots locations as part of cost-cutting efforts, according to company officials on the pharmacy giant’s Q3 2023 earnings call. As a result, the company raised its cost savings program target to $4.1 Walgreens Boots Alliance will shutter 150 U.S. This effort also included selling 10.8

Planning 258

Planning Location Store Operations 258

Retail TouchPoints

JANUARY 30, 2023

Additionally, the retailer will wind down its Sidestep banner in Europe to better enable it to focus on its core businesses. The cuts are part of Foot Locker’s plans to “simplify the business” and put a greater emphasis on omnichannel operations, according to CEO Mary Dillon.

Promotions 300

Promotions Planning ATS 300

Inside Retail

JANUARY 22, 2023

Pureplay retailer Booktopia says it has identified several business initiatives it expects will boost its bottom line by between $12 million and $15 million during the next financial year. It will also reduce its property/lease obligations requirements, leaving $2-3 million of annualised cost savings.

Advertising 246

Advertising Consumer ATS 246

Retail TouchPoints

MARCH 22, 2023

The retailer reached net income of $48.2 The retailer also reduced its inventory to $682.9 This, as well as cost-cutting initiatives that included headcount reductions over the course of 2022, contributed to the retailer’s profitability. million compared to a net loss of $147.5 billion from $2.25

Shipping 235

Shipping Customer Experience Shopping ATS 235

Retail TouchPoints

DECEMBER 4, 2023

This offer had valued Neiman Marcus at $3 billion , but the luxury retailer objected to the deal’s structure because a significant portion of the payout would not have been in cash, people familiar with the matter told WSJ. Nieman Marcus has rejected Saks Fifth Avenue ’s latest takeover bid, according to the Wall Street Journal.

Discount Store 252

Discount Store Department Stores Consumer ATS 252

Inside Retail

NOVEMBER 16, 2023

The rising cost of living in Australia is causing a major shift in consumer shopping habits, according to the latest research from the Product of the Year Awards (POY), with more shoppers opting for home-brand products and cutting back on small indulgences like snacks and premium desserts.

Supermarket 130

Supermarket Consumer Shopping 130

Retail TouchPoints

MARCH 26, 2024

As part of its ongoing transformation program, Canada Goose has cut approximately 17% of its corporate jobs, a move that the retailer anticipates will yield immediate cost savings, a simpler organizational structure and accelerated decision-making.

Finance 241

Finance Location Management Store Operations 241

Inside Retail

MAY 9, 2023

The Labour government’s new federal budget has promised a host of relief measures to small businesses and retailers to curb the rising cost of living and inflationary pressures. Australian Retailers Association CEO Paul Zahra said cost-of-living relief was “front of mind” for retailers and consumers alike.

Supermarket 246

Supermarket Management Consumer 246

Retail Gazette

MAY 9, 2024

John Lewis has cut 3,800 roles in the past year in efforts to reduce costs across stores, according to new filings. The cuts coincided with the retailer saving roughly £26m in employment costs during the year, while its finances were also aided by its decision not to pay workers a cost of living bonus last year.

Supermarket 117

Supermarket Finance Management Shopping 117

Retail TouchPoints

AUGUST 8, 2022

Ecommerce juggernaut Alibaba isn’t immune to the economic forces weighing down other retailers, particularly as new lockdowns in mainland China dampen hopes for an imminent recovery. But lockdowns weren’t the only reason for the staff cuts — Alibaba’s revenue was flat for the first time ever during this quarter, which ended June 30, 2022.

Consumer 286

Consumer ATS Marketing 286

Retail TouchPoints

FEBRUARY 17, 2023

The RealReal will cut operating costs through layoffs and store closures, with plans to eliminate 230 positions, or 7% of its workforce, according to a filing with the Securities and Exchange Commission. The effort will cost between $1.7 million and $2.2 The size of the U.S.

Payment Services 300

Payment Services ATS Accessories Planning 300

Inside Retail

JANUARY 8, 2024

Black Friday sales pushed Australian retail sales up by 2.2 billion, which Australian Retailers Association (ARA) CEO Paul Zahra said reflects how consumers prioritise essentials amid a cost-of-living crisis. ” All states showed retail sales growth during the month, with the ACT leading at 5.2 per cent to $36.51

Department Stores 264

Department Stores Accessories Promotions Consumer 264

Inside Retail

FEBRUARY 13, 2023

Following nine consecutive interest rate increases in Australia – with more likely to come – retailers are having to navigate a challenging economic environment, as consumers are looking to cut back their spending across a range of categories. This was arguably felt in December 2022, which saw a 3.9 per cent drop in consumer spending.

Finance 246

Finance Fashion Marketing Accounting 246

Retail TouchPoints

APRIL 18, 2024

There’s an analogy here to what is happening in retail, as retailer leaders have become increasing immersed in technology-driven innovation over the past decade. Retailers are being slowly pulled along with technology’s evolution without feeling any sense of impending doom. Many retailers are at this stage.

Fulfillment 253

Fulfillment Marketing Returns Supermarket 253

Inside Retail

AUGUST 29, 2023

The contributions are set to be felt by Domino’s workforce, with significant job cuts being flagged for the year ahead. Staff cuts and cost savings Like other brands impacted by the current cost-of-living crisis, Domino’s attributed its subdued results to historically high levels of inflation, which affected food, labour and energy costs.

Net Profit 246

Net Profit Consumer Marketing Management 246

Inside Retail

JULY 4, 2023

To curb spending amidst a cost-of-living crisis, about 91 per cent of Australian consumers in a new study say they are making changes to their buying behaviour. Meanwhile, younger people aged 15-24 years, are more likely to cut back on spending since they spend more than 30 per cent of their gross weekly income on housing.

Planning 246

Planning Shipping Consumer ATS 246

Inside Retail

APRIL 30, 2024

Instead, Coles’ CEO and managing director, Leah Weckert, spent plenty of time explaining how the retailer is providing value to customers as cost-of-living pressures continue to weigh on Australian households. On Tuesday, Coles reported a 5.1 per cent increase in supermarket sales revenue to $9.1

Supermarket 259

Supermarket ATS Management Marketing 259