Nike has opened a new concept store called Nike by Melrose in West Hollywood, Calif., that combines digital shopping with personalized services. The concept, dubbed Nike Live, uses customer preferences collected through its NikePlus app to curate merchandise selection, includes customized shopping features like the Nike Sneaker Bar and targets shoppers who like to exercise in style.
Burberry will trim its prices in China on Saturday in response to the recent decrease in import duties for goods in the country. The average reduction on items from handbags to ready-to-wear will be about 4%.
Ensuring your business has healthy cash flow can help you maximize the sale price, writes Adam Lean. He describes four ways to improve cash flow, including raising prices, fine-tuning marketing efforts and reducing operating expenses.
Blockbuster will close its two stores in Alaska on Monday, leaving the video rental retailer with one last US store, in Bend, Ore. The company, which operated 9,000 stores in the US and international markets in 2004, has steadily closed stores since filing for bankruptcy in 2010.
PVH, parent of brands including Calvin Klein, Tommy Hilfiger and Izod, has launched Stylebureau, an e-commerce site that allows shoppers to browse styles across all of its brands. The site aims to shift the company's sales away from wholesale by offering a digital shopping experience reminiscent of physical department stores.
Middle East e-commerce marketplace Noon is looking to form relationships with brands in China that would allow it to offer Chinese products to its customers. Noon also aims to establish a permanent office in China, as well as expand logistical capabilities.
Japanese companies Shima Seiki and Fast Retailing are deepening their partnership, which began in 2016, with plans to produce on-demand knitwear on a wider scale. Fast Retailing subsidiary Uniqlo currently sells knitwear products made by Shima Seiki.
The back-to-school and college shopping season is in full swing, but many parents and college students say they are waiting for the best deals to complete their lists, according to NRF's annual survey conducted by Prosper Insights and Analytics. Total spending for K-12 schools and college combined is projected to reach $82.8 billion, nearly as high as last year's $83.6 billion. View survey highlights.
Reverse logistics companies should look at industry leaders who offer clear return policies, have created software to prevent returns or specialize in reprocessed goods, says ReBOUND CEO Graham Best. "We need more joined up thinking; companies that collaborate across the reverse supply chain will surely succeed over those that don't," he says.
Companies with reverse logistics management software must ensure their software can communicate with multiple systems and manage input from various subcontractors and stakeholders, writes Tom DeVroy of IFS North America. "A technician in the field should be able to access tutorials on various repair processes, which in turn makes those with less experience more productive while increasing first-time fix rate," he writes.
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