Best Buy turns 250 stores into hubs, Bed Bath & Beyond lay off 2,800, Nordstrom sales down 53%, Zappos to open NY store

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1. Best Buy will turn about a quarter of its stores into hubs that handle higher volumes of packages as part of a pilot that starts next month. Story by Melissa Repko.
2. Bed Bath & Beyond lays off 2,800 employees. Combined with 200 store closures it will realize savings of as much as $350 million and help expand omnichannel services and private label. Coverage from Daphne Howland.
3. Nordstrom reported a larger-than-expected loss and a 53% sales decrease. Reporting from Anne D’Innocenzio.
4. Zappos — the Amazon-owned online shoe retailer — appears to be launching a brick-and-mortar location. Sources said that Zappos has leased a three-level former American Eagle space in Union Square. Story by Steve Cuozzo.

Source: Best Buy to experiment with turning some stores into hubs as it bets on permanent shift toward online shopping | CNBC

Source: Bed Bath & Beyond lays off 2,800 | Retail Dive

Source: Nordstrom’s 2Q sales down 53% hurt by pandemic fallout | AP News

Source: Zappos replacing American Eagle in Union Square | NY Post

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