Retail News and Trends for 24th May 2019

1.

Competing with Walmart and Amazon

Target plans on expanding its same-day services further, continuing its efforts to win over consumers with fast and flexible fulfillment. The retailer's Q1 earnings showed that digital sales were up 42% YoY, and over half of those reportedly came from same-day delivery services such as BOPIS, Drive-up, and Delivery.

2.

Square's policy shift

Payment processor Square is reportedly starting to work with some CBD merchants in an invite-only beta pilot. This marks a major policy shift for Square, which previously banned CBD sales from its network.

3.

Why Nike is the most innovative brand

Nike ranks No. 1 in consumers’ perception of innovation, fashion/style, and purchase intention, according to a survey among 1,400+ recent athletic apparel purchasers in the U.S., conducted by investment firm Canaccord Genuity in March. Adidas comes in second and Under Armour and Lululemon barely hold ground.

4.

LB surprises analysts

L Brands (LB) reported a quarterly profit of 14 cents per share, surprising analysts who had expected a breakeven quarter. Despite a collapsing Victoria's Secret, L Brands also raised its outlook for the full year, on the heels of record results for its Bath & Body Works unit.

5.

Google takes on Amazon

Google is set to introduce AR and 3D visualizations within search results as it seeks to win consumers back from starting their searches on Amazon. At its I/O developers’ conference, Google announced that AR and 3D visualizations on mobile would be accessible in search results within the month.

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