THE CHEAT SHEET The Sneaker Market Perks Up Dior x Nike | Source: Courtesy On July 1, Dior will notify winners of an online raffle for the right to purchase Dior X Air Jordan 1 sneakers The much-anticipated release was delayed by three months due to the pandemic, as were many other high-profile sneakers Nike […]
Macy's to Cut 3,900 Jobs to Help Counter Covid-19 Losses
CINCINNATI, United States — Macy’s Inc said on Thursday it would lay off about 3,900 employees in corporate and management positions to help lessen some of the financial strain of dwindling sales due to the Covid-19 pandemic. The department store chain, which had about 123,000 employees at the end of January, said it expects to […]
Macy’s First-Quarter Sales Plunge
Macy’s Herald Square flagship department store in Midtown Manhattan | Source: Shutterstock NEW YORK, United States — Macy’s Inc. said on Tuesday its 450 reopened stores were performing better than expected, giving some respite for the department store chain that reported nearly $1 billion in quarterly operating losses due to Covid-19 lockdowns. The company’s shares […]
Discount Retailer Ross Stores Cancels Orders Through June
NEW YORK, United States — After closing stores around the world to curb the spread of the coronavirus, retailers are now telling some vendors to immediately cancel orders. On Thursday, discount store operator Ross Stores Inc sent a letter to its vendors, notifying them it would cancel all merchandise purchase orders through June 18 due […]
Retailers, Pressured to Shutter Stores, Face a Moral Dilemma
LONDON, United Kingdom — One by one, the dominos fell. First, Patagonia announced on Friday that it would close its US stores, headquarters and temporarily shut down its online shop. The Ventura, Calif.-based outdoor retailer was swiftly followed by progressively marketed, direct-to-consumer brands Everlane and Reformation. By Wednesday, everyone from US department store Nordstrom to French […]