December 9, 2022

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At this time in Retail: Dwelling Enchancment Robust

At this time in Retail: Dwelling Enchancment Robust

At this time in retail, Goal is testing curbside returns and Starbucks order supply, whereas Overstock’s inventory worth surges after the corporate’s blockchain-based buying and selling platform will get an funding from Intercontinental Trade. Plus, one man’s furnishings trash is one other individual’s furnishings treasure, and large retailers consider an omnichannel method is the way in which ahead for the flagging sector.

Overstock Soars After Embattled eTailer Reviews Market Share and Revenue Good points

eCommerce retailer and know-how firm Overstock.com Inc.’s inventory worth surged nearly 25% Wednesday (Feb. 23) after the corporate reported the outcomes of its fiscal 2021 fourth quarter and full 12 months, with the bounce coming three months after its share worth tumbled 65% in November.

Overstock celebrated its most profitable Cyber 5 — Thanksgiving by means of Cyber Monday — interval within the firm’s historical past, which helped it ship on profitability targets for the quarter. Traders had been additionally enthusiastic about Intercontinental Trade’s strategic funding in tZero, the blockchain-based buying and selling platform for cryptocurrencies and digital belongings wherein Overstock owns a majority stake.

Lowe’s Rolls Out Stable Dwelling Enchancment Forecast

Lowe’s fiscal 2021 fourth-quarter earnings mirror optimism in regards to the house enchancment sector and customers’ willingness to proceed doing it themselves, even because the restrictions associated to the COVID-19 pandemic proceed to ease, with demand for instruments and constructing supplies sturdy as builders and handymen improve their toolkits to complete a backlog of delayed tasks.

Lowe’s same-store gross sales rose 5% within the fourth quarter ended Jan. 28 and the corporate expects its fiscal 12 months 2022 whole gross sales to be within the vary of $97 billion to $99 billion, in comparison with a earlier forecast of $94 billion to $97 billion.

Retail Sustainability Development Goes From Resale to Refuse With Furnishings Made From Trash

Brooklyn-based furnishings maker REDU is trying to faucet unprecedented client demand for sustainable, reusable merchandise that lower waste and scale back stress on the setting, increasing the attain of its recycled furnishings through an interactive retail showroom in Manhattan’s Higher East Facet.

In the meantime, resale platforms comparable to Kaiyo and Chairish method sustainability through marketplaces that pair up secondhand furnishings patrons and sellers, and different manufacturers are striving to shrink their carbon footprint and scale back waste in different methods.

Pottery Barn affords reclaimed wooden furnishings made with salvaged supplies and Crate & Barrel sells a line of furnishings that’s licensed by the Forest Stewardship Council.

TJX FY22 Optimism Dampened by Inventory Value Drop

Low cost attire and residential items retailer The TJX Corporations missed analysts’ expectations in its fiscal 2022 fourth-quarter and full-year earnings, partially due to the unfold of the omicron variant of the COVID-19 pandemic inflicting retailer closures.

A lot of TJX’s shops had been closed for at the very least a part of the three-month interval throughout the vacation buying season, however the firm nonetheless grew its total retailer depend by 117 to a complete of 4,689 places throughout its manufacturers — TJX, Dwelling Items and Marshalls — and noticed a 2% enhance in sq. footage year-over-year.

The TJX Corporations’ shops that remained open throughout the 12 months carried out effectively, with U.S. open-only comparable retailer gross sales up 17% from fiscal 2020. The fiscal 12 months additionally noticed web gross sales of $48.5 billion, up 16% from two years in the past and up 51% from final 12 months.

Dwelling Depot, Macy’s, Walmart Push Omnichannel Integration of in-Retailer and On-line Retail

Three of the biggest retail manufacturers have come out with comparable plans up to now week or in order that mirror their perception that omnichannel retail is the way in which ahead for the trade because it continues to attempt to regain its pre-pandemic glory.

Of their respective quarterly earnings reviews, Walmart CEO Doug McMillon mirrored on a modified enterprise mannequin that’s more and more digital, Macy’s CEO Jeff Gennette informed buyers the combination of eCommerce and bodily shops works higher in each state of affairs and Dwelling Depot’s incoming CEO Ted Decker introduced plans to struggle friction wherever it exists to fulfill evolving buyer expectations. That tells us one thing these guys already know: Massive retail is absolutely onboard the omnichannel bus.

Goal to Take a look at Curbside Returns, Starbucks Orders

Goal will quickly launch a take a look at in choose markets that enables clients to a Starbucks order or make a return by means of its contactless curbside service.

Prospects will use the Goal app to sign that they’re on the way in which to the shop and get the choice to put an order from the Starbucks menu that will probably be delivered to their automobile by a Goal worker or make a return with out leaving their automobiles.

Goal may also broaden the “backup merchandise” performance of its app, letting clients decide from a wider assortment of classes — together with family important and wonder merchandise — and designate one thing as a second selection if their first-choice merchandise isn’t out there.

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NEW PYMNTS DATA: THE TAILORED SHOPPING EXPERIENCE STUDY – MAY 2022

At this time in Retail: Dwelling Enchancment Robust

About: PYMNTS’ survey of two,094 customers for The Tailor-made Buying Expertise report, a collaboration with Elastic Path, reveals the place retailers are getting it proper and the place they should up their recreation to ship a custom-made buying expertise.