Arc’teryx, the Canada-based maker of high-end outdoor apparel and equipment with five Manhattan stores, is braving the biggest retail stage of all — Rockefeller Center. The company signed a lease for 12,689 square feet at Tishman Speyer’s 600 Fifth Ave. between East 48th and 49th Streets. The two-story location will replace Aritzia, which the Commercial … Read more
Walmart is in talks to buy smart television manufacturer Vizio for more than $2 billion, the Wall Street Journal reported Tuesday, citing people familiar with the matter. Shares of Vizio jumped 36% after the report, while Walmart’s shares were down about 1%. Vizio did not immediately respond to a request for comment. Walmart, including its Sam’s Club … Read more
This is em-bear-assing. Build-A-Bear’s stuffed animals targeting “kidults” — with some dressed in bikinis and others wearing a Hugh Hefner-style robe while pouring champagne — has led some critics to slam the child-friendly company. The St. Louis, Mo.-based toy company rolled out the risque accessories for their stuffed bears as part of a Valentine’s Day … Read more
South African retail industry is likely to ramp up its investment in automation and artificial intelligence (AI) in 2024 as it looks for new ways to drive innovation and outsmart its competitors. AI MAKING STRIDES IN THE RETAIL MARKET? This aligns with global trends, with research from Honeywell showing that six in 10 retailers worldwide plan … Read more
Levi Strauss forecast annual sales and profit below Wall Street expectations on Thursday and said it would cut 10% to 15% of global corporate jobs as the denim maker seeks to rein in costs amid weakness in its wholesale business. Levi attributed the weak forecast to plans to exit its Denizen brand and cut back on off-price sales, … Read more
The owners of Gucci on Monday bought a prime Fifth Avenue retail property for a whopping $963 million — and it could mean the boot for rival fashion house Armani from its flagship location. Gucci’s parent Kering scooped up the 115,000 square-foot, three-level retail space at 715-717 Fifth Ave., at East 56th Street, which sits … Read more
The revelation that Loblaw will end its 50 per cent discount on perishable foods like meat, fruit and vegetables as they near their best-before dates should attract the attention of Canada’s Competition Bureau, says one industry expert. Prof. Sylvain Charlebois, the director of Dalhousie University’s Agri-food Analytics Lab, believes the action taken by the grocery chain to align its policy with other food retailers might be … Read more
Unusually choppy waters off the west coast of Newfoundland mean the island’s only transport truck ferry service has been seeing an onslaught of delays. And those repeated delays, says Marine Atlantic spokesperson Darrell Mercer, mean trucks carrying food, clothing and household goods aren’t arriving on time. “There have been continuous storm systems that have been … Read more
CVS Health said Thursday it will close some pharmacies that operate inside Target stores during the first several months of the year. The closures will begin in February and be completed by the end of April, a company spokesperson said. Prescriptions will be transferred to a nearby CVS Pharmacy prior to closing, the spokesperson added. The Wall Street Journal reported … Read more
Canada Post Inc. is selling off its third-party logistics business to a Montreal company, according to a media release Tuesday from the Crown corporation. The sale of SCI Group Inc. to Metro Supply Chain comes as the country’s national postal service “focuses on transforming to serve the changing needs of Canadians and Canadian businesses,” says … Read more
