Keeping the wolf from the door

Despite online being initially viewed as something of a saviour for ‘non-essential’ retailers forced to close their stores the reality has been more painful as many have been unable to operate online. A combination of issues over social distancing in warehouses and subdued demand for products within various categories has made it tough for many…

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COVID-19 is killing grocery workers

At least four people who worked at grocery stores – Giant Foods, Trader Joe’s and Walmart – have died as a result of catching COVID-19. The deaths have occurred at the same time as major grocers are seeking to hire hundreds of thousands of workers to keep up with the demand created by local and…

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Online grocers having trouble keeping up with increased demand

Many online grocers in the U.S. were having a hard time keeping up with delivery orders before many states issued stay-at-home orders in response to the novel coronavirus pandemic. The situation has only gotten worse in recent weeks with many services that offered deliveries within hours before now taking days to fulfill orders, many of…

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REI keeping stores closed, furloughing workers for 90 days

REI announced that it will continue to keep its 162 stores close and furlough many of its 14,000 workers without pay for 90 days. The outdoor gear retailer said furloughed employees will continue to receive their medical benefits. Company CEO Eric Arts said he would not receive any compensation for six months and senior executives…

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Wayfair’s stock jumps on strong virus-related sales growth

Wayfair saw its gross revenue growth rate more than double towards the end of March as more consumers practice social distancing and work from home. The online furniture retailer’s share price rose as much as 51 percent in trading at one point yesterday. The company generates about 85 percent of its revenue from the U.S….

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Macy’s CFO is stepping down

Paula Price, chief financial officer at Macy’s Inc., will step down on May 31 after nearly two years in the position. Ms. Price, who will continue as an advisor through November, will continue to play a “critical” role as the department store retailer seeks to navigate its way out of the coronavirus pandemic. Macy’s, which…

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