Tipsheet: Clothes 2X Backlog | Target Brand Activewear $1B | Investor Exits Con. Store
Target’s activewear brand hits $1 billion in sales, as retailer gains ground in apparel at CNBC. “We like to joke about this internally that it’s become our guests’ favorite work wear, not just workout wear,” said Jill Sando, Target’s chief merchandising officer for style and owned brands.” Read more
Container Store’s stock tumbles as biggest investor downsizes stake at NY Post. “Leonard Green & Partners has sold 5 million shares in the Coppell, Texas-based home- and office-furnishings chain, representing 9.9 percent of the company’s outstanding shares, according to a regulatory filing.” Read more
Food price spikes see inflation rear its head in emerging markets at Reuters. “Major wheat and corn exporters such as Russia or Argentina have introduced curbs or taxes to preserve domestic stockpiles, exacerbating pressures elsewhere. United Nations data showed food prices hit six-year highs in January after rising for eight consecutive months.” Read more
Amazon to buy half of the energy produced by huge offshore wind farm in the Netherlands at CNBC. “Amazon said the “Amazon-Shell HKN Offshore Wind Project” will be its largest single-site renewable energy project yet. The offshore wind farm is expected to be operational by 2023.” Read more
Clothes retailers cut orders while factories fight to survive at Reuters. “In an indication of the scale of the backlog, consultancy McKinsey says the value of unsold clothing worldwide, in stores and warehouses, ranges from 140-160 billion euros ($168-192 billion) – more than double normal levels.” Read more
Amazon Shares Data with Feds to Fight Fake Football Merch at eCommerce Bytes. “Amazon made a splash two days before big game by announcing it was expanding an operation in partnership with the US government to fight counterfeit Super Bowl merchandise, including sharing real time information with the Feds.” Read more
**2021 Sweets & Snacks Expo Registration Is Now Open. The Sweets & Snacks Expo is a can’t-miss event for thousands of confectionery and snack retailers, manufacturers and suppliers for a reason – here you’ll find all the product innovations, insights and industry connections you need to build a world-class in-store or online experience that will delight your shoppers. Show Overview | Destination Retail
How small businesses shifted to Etsy & Shopify for survival at USA Today. “If in January 2020 you told me that in two months’ time my shop would be selling nothing but I’d be making over $100,000 on Etsy, I’d tell you, you were nuts,” Jenner told me. “I had never even heard of Etsy.” Read more
Months after contracting COVID-19, some will try anything to regain their sense of smell at LA Times/Yahoo. Read more
CVS, Walgreens step up ‘bot’ defense ahead of COVID-19 vaccine appointment rush at Fox Business. “Much in the same way scalper bots in the past have scooped up the latest PlayStation or Microsoft Xbox consoles as soon as they hit the market…security companies have expressed concerns that these scalper bots could target pharmacies’ vaccine appointment slots in the same way, urging retailers to step up their defenses to ward off such attacks.” Read more
Amazon workers begin historic vote to unionize today at TechCrunch. Read more
Dropshippers can make millions selling cheap products on Facebook, Instagram and TikTok, but buyers beware at CNBC. “In an analysis of more than 124,000 Shopify stores, Fakespot found more than 25,000 that engaged in some form of fraudulent activity like counterfeits, privacy leaks, or buying fake reviews. Of those, almost 72% showed evidence of dropshipping tactics being used in their business.” Read more
An unleashed Jeff Bezos will seek to shift space venture Blue Origin into hyperdrive at Reuters. “NASA is expected to winnow the lunar lander contest to just two companies by the end of April, adding pressure as Blue Origin works through problems such as wasting millions of dollars on procurement, and technical and production challenges, the sources said.” Read more
Tipsheet Extra
Paul McCartney weighs in on JCPenney CEO search
How Bruce Springsteen Agreed to Do a Super Bowl Commercial for Jeep
Kroger’s Brad Studer shares innovation insights
Review: Book reveals roots of Amazon’s spectacular success
Florists have never seen a February like this one
**
Eye on Retail Tipsheet is must-read material for retail execs every weekday morning. Tipsheet stories are carefully curated bright and early every morning to ensure fresh and unique content.
Subscribe to Eye on Retail Tipsheet here
Contact us: Put your product or service in front of the most powerful retail execs in the world, send advertising inquiries to info@eyeonretail.net
Website: eyeonretail.net