Adidas shoes are displayed at a DSW store on January 31, 2024 in Novato, California. Justin Sullivan | Getty Images Adidas on Wednesday warned of a sales decline in its overstocked North American market in 2024, as the German sportswear brand continues to sell off its remaining Yeezy inventory. Currency-neutral sales in North America are … Read more
COO and President Dan Sheridan of Brooks Running Courtesy: Brooks The longtime CEO of Berkshire Hathaway’s Brooks Running, Jim Weber, is stepping down after more than 20 years in the top job, the company will announce Tuesday. Brooks veteran Dan Sheridan, who started at the running company in a marketing role in 1998 and worked … Read more
Read CNBC’s full investigation into the alleged organized theft groups that police say are stealing and reselling items from retailers including Ulta Beauty, T.J. Maxx and Walgreens. Faced with sophisticated organized retail crime rings that investigators say have targeted his company, Ulta Beauty CEO Dave Kimbell is laying some blame on e-commerce sites. In the … Read more
Shoppers walk in front of a Kohl’s store in Mount Kisco, New York. Scott Mlyn | CNBC Kohl’s said Tuesday that it’s teaming up with the owner of Babies R Us to bring baby gear, furniture and more to approximately 200 of its stores across the country. The retailer struck a deal with WHP Global, … Read more
In a tony suburban enclave in the San Diego foothills, police say, an organized retail crime “queenpin” had built an empire. Tucked behind the stone walls of her 4,500-square-foot Spanish-style mansion, Michelle Mack had stockpiled a small fortune in cosmetics that had been stolen from Ulta and Sephora stores across the country, authorities said. Police … Read more
Customers shop in a Walmart Supercenter on February 20, 2024 in Hallandale Beach, Florida. Joe Raedle | Getty Images News | Getty Images Consumer spending bounced back in February from a January dip, with a little help from Leap Day. But sales still registered good gains even after correcting for that extra spending day. The … Read more
The chief executive of Denmark’s Lego on Tuesday reflected on a tough year for the world’s largest toymaker, and outlined the firm’s long-term plans to stay relevant and “cool with kids.” Lego said its 2023 revenue was 2% higher compared to the previous year, growing to 65.9 billion Danish krone (around $9.65 billion). This was in … Read more
Former President Donald Trump ‘s promise of tougher China tariffs if elected again could make doing business in the world’s second-largest economy more difficult for American companies like Starbucks which are already facing tough competition from lower-cost domestic competitors. “I fully believe in them [tariffs] economically when you’re being taken advantage of by other countries,” … Read more
IKEA lowers prices on items worldwide. Nurphoto | Nurphoto | Getty Images Swedish home and furniture company Ikea has been cutting prices across a number of countries as global inflation eased, as it boosts its investments in price reductions. The company is further expanding its price cuts in 2024 across all of its markets globally, … Read more
Hispanolistic | E+ | Getty Images Don’t expect the sofa you buy today to go the distance. “In the last 15 years, there’s been a shift to disposable furniture,” according to David Koehler, chairman of Johnny Janosik, a furniture retailer with stores in Delaware, Maryland and Virginia. For most consumers, that’s okay. Attitudes have … Read more
