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Market Buzz& Industry News

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Disney closing 60 stores, will focus on online retail sales

03/04/2021

Disney is shutting Mickey down in 60 stores across North America as the entertainment giant puts more of its attention on driving online sales. “Over the past few years, we’ve been focused on meeting consumers where they are already spending their time, such as the expansion of Disney store shop-in-shops around the world,” said Stephanie…

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Walmart pledges more support for made or assembled in the USA products

03/04/2021

Walmart has pledged an additional $350 billion over 10 years to purchase products made, assembled or grown in America. “U.S. manufacturing really matters,” John Furner, chief executive of Walmart U.S., said in a statement. “More businesses are choosing to establish their manufacturing operations in the United States, and the result is more jobs for Americans…

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Amazon went on NYC warehouse shopping spree as pandemic hit

03/04/2021

Amazon.com has significantly expanded its warehouse footprint in New York City since the onset with the novel coronavirus pandemic. The city and surrounding region were one of the first and hardest hit markets when the pandemic began last year. Amazon has since acquired nine new warehouses, including a one million-plus square foot facility in Queens,…

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Kroger to require mask wearing as states lift mandates

03/04/2021

Kroger has issued a statement that it will “require everyone in [its] stores across the country to wear masks until all our frontline grocery associates can receive the COVID-19 vaccine.” That policy applies even in states that have lifted mask mandates.

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Penney sees home goods as a means to a turnaround

03/04/2021

J.C. Penney plans to have 90 percent of the textiles sold in its home goods department to be new by the summer. The retailer is reintroducing its Fieldcrest brand, which was originally created by Marshall Field’s. NPD Group analyst Joe Derochowski said sales of textiles increased 16 percent through November and he expects sales to…

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Christopher & Banks to get its own home shopping TV show

03/04/2021

ReStore Capital, a division of Hilco Global, acquired the bankrupt Christopher & Banks chain in January. Now, the company has reached a licensing deal with iMedia Brands for that company to operate the retailer’s business across all sales channels, including a Christopher & Banks television program on ShopHQ, a nationally distributed television network.

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Volvo will only make e-cars and sell them online starting in 2030

03/04/2021

Volvo is phasing out all vehicles that run completely or partially on fossil fuels and will only produce electric models beginning in 2030. The car manufacturer also announced that, beginning in 2030, consumers will have to go online to buy their new Volvo EVs. The car maker’s announcement earlier this week follows a similar announcement…

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Chipotle ties executive compensation to diversity and environmental progress

03/04/2021

Ten percent of Chipotle Mexican Grill executives’ annual incentives will be tied to helping achieving the restaurant chain’s diversity and environmental goals. “It’s very important for us to be transparent and to be held accountable. We can say a lot of words, but we want to make sure that we have the actions to back…

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President Biden announces vaccine deal between pharma rivals

03/03/2021

President Joe Biden has said that enough doses of COVID-19 vaccines will be manufactured by the end of May to immunize every adult in the U.S. He made the announcement after his administration brokered a deal between Johnson & Johnson and Merck to co-produce J&J’s vaccine. Merck was unsuccessful in its attempts to produce a…

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Retailers will require masks even if Texas governor won?t

03/03/2021

Major retailers are deciding how to respond to Texas Gov. Greg Abbott’s announcement that he is lifting mask mandates in the state. Chains including Albertsons, H-E-B are Tom Thumb will require workers to wear face coverings while asking, but not requiring, customers to do the same. Target and others will require both associates and shoppers…

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