Employees in two Canadian factories make Lush Handmade Cosmetics' bath bombs and other products by hand, and the work has grown along with the UK-based brand's store base in the US and Canada. The chain will shift away from new store openings and focus on expanding existing locations, a move that's not expected to dampen demand for the preservative-free products.
Claire's has been teens' preferred mall shop for accessories for almost 60 years, but the chain has seen sales slip in recent years amid slowing mall traffic and growing competition from fast-fashion retailers. "Claire's -- which is about impulse-driven purchases -- has become a victim of changing mall traffic trends," Fitch Ratings Retail Analyst David Silverman said.
About 53% of millennials say happiness levels rise along with incomes, compared to 38% of the overall population, and 51% of millennials express confidence about their future finances, according to a Mintel survey.
Amazon, the largest e-commerce retailer in Canada, outsells its competitors by a wide margin, so its recent purchase of Whole Foods is not a bigger concern than its domination of online shopping. "The more pressing threat for Canadian retailers is Amazon's continued foray into general merchandise categories and an increase in the number of Prime-eligible items," retail analyst Peter Sklar said.
Retail inventory shrink hit $48.9 billion last year, up from $45.2 billion in 2015, and losses from theft and other forms of shrink grew to 1.44% of total sales, according to an annual report from NRF and the University of Florida. Retail spending on loss prevention was flat or down during the same period, the report revealed.
Warren Buffett's firm Berkshire Hathaway has invested in Store Capital Corp., betting that the commercial landlord's mix of service and entertainment tenants will keep its business strong even as traditional retailers face challenges brought on by e-commerce. Store's portfolio also contains tenants seen to be resistant to the rise in e-commerce, including furniture stores and hobby shops.
Once Britain leaves the European Union in 2019, it will continue to offer tariff-free exports, excluding ammunition and guns, to 48 developing countries. "Our departure from the EU is an opportunity to step up to our commitments to the rest of the world, not step away from them," said Liam Fox, Britain's international trade secretary.
In a £1.8 billion deal, Russian billionaire Mikhail Fridman's L1 Retail fund is purchasing and planning to grow Holland & Barrett, the UK's largest health food chain. "Holland & Barrett is a clear market leader in the UK health and wellness retail market, with attractive growth positions in other European and international markets," said L1 Retail's Stephan DuCharme.
British grocery retailer Tesco has debuted a new one-hour delivery service to shoppers in central London. The service will allow customers to use the Tesco Now app to order as many as 20 items from a selection of 1,000 products, the company said Monday.
Successful companies take a holistic look at quality and use data to fix issues preemptively rather than simply responding to issues, writes Douglas Fair, chief operating officer at InfinityQS. Aggregating that data and using software to analyze it lets manufacturers see systemic issues and prioritize the items that need to be remedied.
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