RetailBoss is streamlining its retail news with our weekly retail roundup, including updates from around the globe. Here are today’s top stories from this week; if you want to get this news in your inbox, sign up for our free retail newsletter and follow us online at @retailboss on Instagram, Facebook, Twitter and Linkedin.
Jacquemus CEO exits Bastien Daguzan has announced his departure from the role of CEO and President at Jacquemus, the French luxury brand known for its modern aesthetic and independent spirit. Prada Buys Fifth Avenue Retail Building for $425M Italian luxury fashion house Prada has purchased the building housing its flagship store on New York City’s prestigious Fifth Avenue. Americans are engaging in ‘doom spending’ despite economic concerns, a trend where consumers continue to spend money amidst inflation and high interest rates. Cart.com Secures $30 Million to Expand Its E-Commerce Platform Cart, a Houston-based commerce and logistics…
solutions provider, has announced a significant boost to its operations with a $30 million infusion from Trinity Capital.
China’s DHGate Experiences Record-Breaking Sales China’s leading B2B cross-border e-commerce marketplace, DHGate reported it doubled its Gross Merchandise Value (GMV) over the Black Friday and Cyber Monday 2023 period, setting a breaking sales record for the platform.
Walmart’s shares slid as the retailer provided a cautious outlook, reflecting weakened consumer spending towards the end of the fiscal third quarter. Best Buy’s sales fell by 8% as demand for electronics stumbled, leading to a lowered annual guidance from the company.
Zulily Takes Legal Action Against Amazon in a New Lawsuit The online retailer Zulily has initiated a lawsuit against the e-commerce giant Amazon. This move comes amidst various antitrust allegations and legal challenges that Amazon has faced from various entities, including the Federal Trade Commission (FTC) and 17 states…
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