- Macy’s announced partnerships today with ThredUp to enter the apparel resale market and CaaStle to make a play into the clothing subscription market via Bloomingdale’s.
- Dick’s Sporting Goods is now operating three clearance outlets which only sell clothing and footwear. Their location in Mt. Pleasant, WI was converted from their typical concept to a clearance format this past summer and no longer features the sporting goods category.
- Macy’s stock down more than 10% this morning, more than 50% from last year, as the company lowered its full year profit outlook after it missed both revenue and earnings expectations this past quarter. Macy’s CEO, Jeff Gennette, cited challenges coming from a decline in international tourism, a fashion miss in women’s sportswear private brands, and slow sell-through of warm weather apparel.
- Zippin announced a partnership with Brazil’s largest retailer, Lojas Americanas S.A., to deploy checkout-free technology across the country. The first Zippin-powered store has opened in Rio and the next store is expected to open in Sao Paulo. The checkout-free Ame Go stores will range from 250 to 3000 square feet and will be located in mostly urban locations.
Source: Macy’s is getting into the clothing subscription and resale businesses | CNBC
Source: Dick’s Sporting Goods now a clothing clearance outlet | Journal Times
Source: Macy’s shares tank 15% as deep discounting leads to a big earnings miss and a cut in forecast | CNBC
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 