Gap used deep discounts in the first quarter to sell apparel overstocks that were piling up amid operational glitches that disrupted the product assortment, the company said Thursday. Same-store sales across the company rose 1% as gains at Old Navy and Banana Republic were offset by a 4% decline at Gap stores.
Britain's Ocado is part online grocer and part tech startup thanks to the hundreds of robots that move items in its system of fulfillment centers, speeding the completion of online orders. Now Ocado's business model has received a major endorsement in the form of a partnership for US warehouses with Kroger.
Several South Korean carriers, including KT, LG Uplus and SK Telecom, plan to offer use-based data plans to combat higher demand for data as technology advances. 5G-heavy applications such as UHD videos and holograms are seen as potential areas of high revenue due to the ability to charge a data premium.
Target is taking aim at Gen Z and millennials with three new private-label brands launching this summer, including an electronics accessories brand dubbed Heyday. The retailer will also roll out men's streetwear line Original Use that includes big and tall sizes and women's fashion line Wild Fable that will include sizes 0 to 26W.
Tesco has named Tony Hoggett, head of its Asia business, to the new UK-based post of group chief operations officer. Hoggett has filled several executive roles at the retailer since joining the company at age 19.
Indian mobile services provider UrbanClap will be the assembly service partner for IKEA once the Sweden-based retailer opens its first India store this summer. IKEA will help train the company's assemblers, and shoppers will be able to hire them via UrbanClap's website or app, UrbanClap said.
Best Buy booked a 7.1% rise in same-store sales, giving the electronics retailer its biggest spring sales increase in more than 10 years. Personal services and tech support designed to make consumers more comfortable with fast-changing mobile and in-home technology have kept the retailer top-of-mind with shoppers, analysts said.
Consumers vastly prefer to use hashtags rather than handles when talking about brands on social media, according to a new report from Digimind. Brands can create hashtags like West Elm's #mywestelm to connect with consumers and gain customer feedback.
Home goods retailer Williams-Sonoma's experienced higher-than-expected first-quarter results, leading to its stock rising almost 6% when the market closed on Thursday. "These results speak to the power of our established multichannel model, distinctive brand portfolio and world-class customer service heritage," CEO Laura Alber said.
- Page 1