Michael Aragon previously served the role of chief content officer of Twitch, Amazon’s livestreaming business. Source: Lululemon Lululemon said Thursday it has named former Amazon exec Michael Aragon as chief executive officer of its at-home gym business, Mirror. Aragon will also oversee Lululemon’s broader digital fitness aspirations, the retailer said in a press release, reporting … Read more
A customer shops at the Nike store on December 21, 2021 in Miami Beach, Florida. Joe Raedle | Getty Images Nike shares rose about 1% in extended trading on Monday after Guggenheim named the retailer its “best idea” for 2022. Analyst Robert Drbul said in a note to clients that Nike’s already dominant market share … Read more
One thing is for sure: 2022 is going to cost you. Between inflation and ongoing supply chain issues, prices are rising on consumer goods nearly across the board. “I really don’t think there’s any way to escape,” said Julie Ramhold, a consumer analyst with DealNews.com. But that doesn’t mean you can’t shop smarter for the … Read more
People purchase at the Sam’s Club flagship store at the Waigaoqiao New Development Zone on September 26, 2021 in Shanghai, China. Fan Jianlei | Visual China Group | Getty Images China’s anti-graft agency on Friday accused U.S. retail giant Walmart and its Sam’s Club chain of “stupidity and shorted-sightedness” after Chinese news outlets reported Sam’s … Read more
A Hangzhou location of the Element Fresh chain, which entered the bankruptcy liquidation process in December 2021, as the coronavirus pandemic took its toll. Costfoto | Future Publishing | Getty Images BEIJING — Sluggish consumer spending has dragged down China’s economy since the pandemic, with little relief in sight for 2022. Along with the property … Read more
One in every four dollars that Americans spent on online purchases retrieved through either curbside pickup or inside of stores this year went to Walmart, according to Insider Intelligence. The big box giant drove 25.4% of all click-and-collect orders in 2021— the largest market share of any U.S. retailer, according to recent estimates by the … Read more
Shoppers pass in front of a Victoria’s Secret store at a mall in San Diego, California, April 22, 2021. Bing Guan | Bloomberg | Getty Images Victoria’s Secret shares rose early Wednesday after the lingerie retailer announced share buybacks and said it had strong sales over the holidays. Its stock is up about 8% in … Read more
A worker fulfills orders at a Gorillas “dark store” in London’s trendy Shoreditch district on May 20, 2021. Hollie Adams | Bloomberg | Getty Images LONDON — A battle to find space powering the ultrafast grocery delivery boom is pushing up rents in parts of London’s commercial property sector. Companies like Getir, Gorillas and Zapp, … Read more
Cargo containers sit stacked on a ship on November 22, 2021 in Bayonne, New Jersey. Spencer Platt | Getty Images Morgan Stanley said most acute supply chain disruptions are already easing and will be more fully resolved within the first half of 2022. That’s the base case the investment bank laid out in a recent … Read more
Some investors are not seeing the appeal of Crocs‘ multibillion dollar deal to buy the casual shoemaker Hey Dude. But Crocs Chief Executive Andrew Rees said the retailer sees the chance to expand the Hey Dude brand to new geographies — along the coasts of the United States and throughout the North. Crocs is also … Read more