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Klaviyo files to go public, J.C. Penney announces $1B turnaround plan

Welcome to the Retailist Roundup - As summer winds down, the transition to fall brings with it a surge in back-to-school trends and an uptick in business news. Here, we provide you with the latest updates in ecommerce, retail, and DTC brands, curated directly by our editors.

We've distilled the past week to present the most significant headlines, emerging trends, and insights from global retail experts. Here's a look at the standout topics this week:

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In the News: This week’s top headlines

Klaviyo files to go public in latest sign of life for IPO market. Klaviyo, a data and marketing automation company, has filed to go public. The company plans to list on the New York Stock Exchange under the symbol “KVYO,” according to paperwork filed with the Securities and Exchange Commission. Klaviyo helps companies store user data and build profiles on them to send targeted marketing via email, text messages and other channels. It got its start in the e-commerce industry by primarily serving online businesses, though Klaviyo said it’s seeing growing demand from companies in other verticals like restaurants, travel, and events and entertainment. [CNBC]

Shopify strikes ‘Buy with Prime’ deal with Amazon Shopify has reached a deal with Amazon to integrate the company’s Buy with Prime service into Shopify’s app ecosystem. Merchants will be able to tap into Amazon’s Prime loyalty program and speedy delivery. The agreement serves as a detente between the two companies after Shopify initially urged merchants not to use Buy with Prime, citing security risks. [CNBC]

J.C. Penney announces $1B turnaround plan J.C. Penney on Thursday announced plans to put more than $1 billion by fiscal 2025 toward improving its operations and customer experience. They will invest in digital capabilities, in-store upgrades including tech, and merchandising and supply chain improvements. [Retail Dive]

Nordstrom tops Wall Street’s quarterly expectations. Nordstrom beat expectations for fiscal second-quarter sales and earnings. Yet its sales in the quarter were still below pre-pandemic levels. The department store retailer stuck by its forecast for the full year, which calls for declining sales. [CNBC]

Shein Strikes Deal With Forever 21 According to the Wall Street Journal, the two rivals have entered into a partnership that paves the way for the Asian e-commerce powerhouse to sell Forever 21 dresses, jeans and accessories on its site. Down the line, Shein shops could operate inside Forever 21 stores, the companies said. [Wall Street Journal]

Macy’s Teams Up with Gap on Exclusive Line. An exclusive line of sleepwear, loungewear, underwear and intimates will now be sold at Macy’s. This is the first collaboration between the two retailers. [Woman’s Wear Daily]

Job Board: This week’s Top Openings in DTC, RetailTech, and more

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