A customer uses a credit card to pay for items January 28, 2022 at a retail shop in New York City. Robert Nickelsberg | Getty Images Department stores like Macy’s and Kohl’s have long used store-branded credit cards to drive purchases and get a cut of cash. Starting this spring, …
The Levi Strauss & Co. label is seen on clothes in a store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. Andrew Kelly | Reuters Shares of Levi Strauss surged 12% on Thursday after the retailer raised its full-year profit guidance and posted …
Levi Strauss, which has long relied on wholesalers like Macy’s and Kohl’s to drive its business, is now doing nearly half of its sales through its own website and stores, the company said Wednesday when reporting fiscal first-quarter earnings. In the three months ended Feb. 25, direct-to-consumer sales made up …
Macy’s hasn’t yet shut the approximately 150 stores it plans to close. But retail competitors already smell opportunity. In recent interviews with CNBC, Target CEO Brian Cornell and Kohl’s CEO Tom Kingsbury said the department store’s decision to shrink its footprint gives them a chance to increase their own sales. …