Today in Retail: Under Armor Looking to Recover

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In retail today, Goodyear weathers supply chain disruptions to post its best first-quarter results in a decade, while Unilever teams up with Robomart on hail ice cream trucks in Los Angeles . Additionally, hiring in the retail and hospitality sectors boosted U.S. job growth in April, Amazon enters unprecedented territory with a 30% decline in market capitalization in 30 days and Adidas and Foot Locker are focused on improving customer experience and connectivity through their expanded partnership.

Unilever rolls out hail ice cream truck

Robomart, a company that creates mobile stores that can be greeted in the style of Uber or Lyft, has announced a partnership with consumer packaged goods giant Unilever to create The Ice Cream Shop, a mobile store featuring brands from Unilever ice cream, including Ben & Jerry’s, Talenti, Breyers and others.

The store, available in Los Angeles, works much like an ice cream truck if consumers could flag down an ice cream truck and only buy packaged goods there. To make purchases, consumers order and pay through Robomart’s app, swiping through the app to open the vehicle and collect their items.

For Unilever, this model offers a way to meet consumers’ desire for on-demand items without the cost of running a physical store. Still, the labor savings may not amount to much, given that, contrary to the name of the company operating the store, the vehicles are driven by a human driver.

Under Armor Gets Trampled, Says Unexpected Supply Chain, COVID and Asian Headwinds Are Temporary

With its shares halved over the past six months, Baltimore-based apparel and footwear retailer Under Armor said Friday (May 6) that investors needed to be patient as the company faces a mix of headwinds which she said were surprising but temporary.

“Freight pricing, supply chain challenges and COVID-19 are not as powerful as the global passion for the sport,” Under Armor CEO Patrik Frisk told analysts at the press conference. company’s earnings call for the three months ending March 31, before expressing confidence that the beleaguered brand now worth just $6 billion would still deliver on its growth promise.

Under Armor is counting on a rebound in shoe sales, which fell 4% last quarter, and outpacing growth in its much larger apparel business, which accounts for nearly 70% of its sales. The company is also looking to boost its direct-to-consumer (D2C) business, which grew just 1%, as well as its e-commerce sales, which account for 45% of D2C sales and grew 2% in the latest results.

Retail and Hospitality Hiring Drives U.S. Job Growth

The U.S. economy added 428,000 jobs last month, driven in part by hiring in the hospitality and retail sectors, the Labor Department said Friday (May 6). The department’s Bureau of Labor Statistics shows April was the 12th consecutive month that job growth exceeded 400,000, while the unemployment rate remained at 3.6%.

According to the bureau, the leisure and hospitality industries added 78,000 jobs in April, while factories added 55,000 new positions, warehousing/transportation hired 52,000 new workers and the trade sector added 55,000 new jobs. retail rose by 29,000. The bureau noted that retail employment is 284,000 workers higher than it was in February 2020.

The figures also showed that gains in sectors such as food and beverage establishments, which added 24,000 jobs, and general merchandise stores, which created 12,000 new jobs, were somewhat offset by losses at building supply and garden stores (down 16,000) and a 9,000 drop in employment at health and personal care stores.

Best Buy adds health, outdoor and transportation products

Approximately 300 Best Buy and BestBuy.com stores will offer a new collection of the latest in skincare technology, including Foreo, Vanity Planet and PMD Beauty, among other brands. It also includes the latest products from Therabody, which recently launched TheraFace PRO, a wearable device that provides percussive therapy, microcurrents, LEDs, and cleansing for your face.

Best Buy also added Yardbird heaters, fire pits, speakers, televisions, grills and outdoor furniture. Yardbird recently launched its Ludlow Collection, which features weather-resistant hand-woven wicker on custom oversized, rust-proof, aluminum-framed loveseats, sofas and sectionals.

The tech-based retailer is also adding charging devices for its suite of e-transportation products across multiple stores, while bringing some of the 750 related products and accessories to stores over the next 18 months rather than just selling them online. line. More immediately, however, Best Buy will pilot a service and repair offering for electronic transportation products in select stores this spring.

Adidas and Foot Locker strengthen their partnership around customer experience and connectivity

Sportswear and footwear brand Adidas has expanded its partnership with sporting goods retailer Foot Locker, focusing on product innovation, enhanced experiences and deeper customer connectivity.

As part of the expanded collaboration, Foot Locker will become Adidas’ premier basketball partner, accelerate so-called “energetic” and “hype” launches, and develop and expand the brand into the women’s, children’s and clothing company, according to a press release.

The partnership aims to reach more than $2 billion in retail sales by 2025 in North America; Europe, Middle East and Africa (EMEA); and Asia Pacific (APAC), a number that is nearly triple 2021 retail sales levels. In 2022, Adidas is targeting up to €100 million (about $106 million) in new revenue due its expanded partnership with Foot Locker, the statement said.

Goodyear says stressed consumers are buying more auto tires and repairs

Goodyear overcame continued supply chain disruptions related to the Russian attacks on Ukraine and the continued spread of the COVID-19 pandemic, particularly the spike in cases across China, to increase sales by 40% compared to the same period in 2021, partly because more people keep their vehicles.

The international tire and rubber retailer on Friday (May 6) reported first-quarter sales of $4.9 billion, up 40% year-over-year, including 20% ​​growth before the addition from Cooper Tire to the mix.

Goodyear also saw “continued growth in global market share” during the quarter, as consumers regularly replaced their tires on their existing vehicles at a time when it’s harder than ever for buyers to buy. new and used cars, thanks to a limited supply of vehicles and rising prices.

AMZN vs. WMT Weekly: Inside a 30% 30-Day Drop and Glory Days for Stores

Not only have Amazon shares underperformed broader stock indexes – as well as their competitor Walmart – over the past week, month, quarter and year, they are now shackled by the clunky description to have lost 30% in 30 days, which translates to $500 billion. in market value lost during this period.

Put another way, Amazon’s one-month decline is worth Walmart’s total value plus an additional $80 billion, which equates to a staggering $17 billion daily evaporation over the past month.

Amazon is not alone in facing the continued crackdown on e-commerce marketplaces and platforms. After more than doubling during the COVID-19 era, it remains to be seen how much of the digital shift will be retained once things stabilize and normalize and how much will be lost to consumers who prefer to shop and shop. races. old.

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NEW PYMNTS DATA: THE TRUTH ABOUT BNPL AND STORED CARDS – APRIL 2022

On: Shoppers who have store cards use them for 87% of all eligible purchases – but that doesn’t mean retailers should start buy now, pay later (BNPL) options at checkout. The Truth About BNPL and Store Cards, a collaboration between PYMNTS and PayPal, surveys 2,161 consumers to find out why providing both BNPL and Store Cards is key to helping merchants maximize conversion.

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