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Brick And Mortar Stores

All articles tagged with #brick and mortar stores

business2 years ago

GameStop's Revenue Decline Raises Concerns for Turnaround

GameStop shares fell 7% as the company's third-quarter revenue declined and missed market expectations, highlighting the challenges faced by CEO Ryan Cohen in turning the business around. The company faces intense competition from online retailers like Amazon and Ebay and needs to make its large store estate more appealing, which could be costly. While GameStop has focused on cost controls and saw a rise in gross margins, concerns remain about a decline in the collectibles business and broader demand weakness. Analysts have a "sell" recommendation for the stock, with a median target price of $10.50.

via Yahoo Finance|
#brick-and-mortar-stores#business#competition
retail2 years ago

Black Friday Shopping Tradition Thrives in Chicago, Long Island

Despite the rise of online shopping and a longer holiday shopping season, Black Friday is still alive and well in the Chicago area. Crowds of shoppers flocked to malls and stores, with many eager to experience the tradition of in-person shopping. While some shoppers enjoy the deals, others value the opportunity to touch and try on items. However, an increasing number of consumers are also turning to online shopping, with record-breaking online sales reported on Thanksgiving Day and Black Friday. Overall, this holiday season is projected to see a significant increase in spending, both online and in-person.

via Chicago Tribune|
#black-friday#brick-and-mortar-stores#online-shopping
retail2 years ago

The Growing Threat of Retail Theft: Cities and Companies at Risk

The rise in retail thefts, often by flash mobs, is posing a serious threat to the viability of brick-and-mortar stores. Retailers such as Target, Dick's Sporting Goods, Lowe's, and Macy's have reported reduced earnings due to increased crime, leading to store closures. In 2022, retail theft rose by 20%, resulting in $112.1 billion in losses. This trend is driving older Americans to shop online, with their online shopping rate doubling from 19% to 42% between 2022 and 2023. Retailers are turning to technology, such as AI-powered analytics and RFID inventory tracking, as well as autonomous robots and drones, to mitigate theft. However, these measures can negatively impact customer service and create an atmosphere of distrust, requiring a delicate balance to maintain sales and margins.

via Seeking Alpha|
#brick-and-mortar-stores#flash-mobs#online-shopping
business2 years ago

Petco's Staff Cuts Jeopardize Store Visits Over Internet Sales

Petco's strategy of focusing on in-person services and drawing customers to its brick-and-mortar stores is being undermined by staff cuts, leading to reduced staffing levels, longer lines, dirtier facilities, and improper animal care. The retailer, which has been competing against online rivals Chewy and Amazon, has seen some success with its store-first approach, but cost-cutting measures have resulted in staffing levels as low as two people per store, making it difficult to maintain proper animal care and customer service. Petco's stock price has plummeted since its IPO in January 2021, and the company may need to make further cost cuts to appease investors.

via Forbes|
#animal-care#brick-and-mortar-stores#business
business2 years ago

Online Shopping Here to Stay for Millennials Despite Store Rebound: Survey

A survey conducted by ESW found that over 27% of millennials plan to spend "significantly more" online and less in-store this year. 73% of millennial survey participants said they plan to spend "the same or more" online this year. Millennials also plan to purchase more luxury goods online this year than Gen Z, Gen X and baby boomers. The enthusiasm for online spending is particularly notable in combination with the relative youth of millennials, a group that still isn't "in their prime earning years."

via CNBC|
#brick-and-mortar-stores#business#e-commerce