Uber enters the business of package returns

Uber is expanding its Uber Connect service.

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:

New from Retailist

Bridging the Gap Between AI and Humans in eCommerce

There’s no denying the sleek utility of AI. There’s also no getting around the fact that humans have expertise, versatility, and proactiveness no machinery can overtake.

Have an exclusive scoop on a retail story? Click here to email our team.

In the News: This week’s top headlines

Uber enters business of package returns ahead of holiday season. Uber is expanding its Uber Connect service to handle package returns ahead of the holiday season. Uber drivers will pick up and drop off prepaid and sealed packages at local post offices or UPS/FedEx stores for a flat fee of $5, or $3 for Uber One members. The service is launching in numerous metro areas, covering nearly 5,000 U.S. cities initially, providing customers with a convenient way to manage their returns and package deliveries. [Fox Business]

Clorox says sales and profit took a big hit from cyberattack. Clorox reported a significant decline in sales and profit for the quarter ending September 30, primarily attributed to the aftermath of a cyberattack that disrupted its operations. The company expects a net sales decrease of 23% to 28% and a gross margin decline compared to the previous year. It anticipates posting a per-share loss of 35 cents to 75 cents, with an adjusted loss of up to 40 cents per share. Clorox is still assessing the long-term impact of the cyberattack on its current fiscal year and beyond, although it believes the effects are gradually diminishing, and it is starting to benefit from restocking retailer inventories. The cyberattack was suspected to be the work of the hacker group Scattered Spider, which has also targeted other companies like MGM and Caesars. [CNBC] 

Lamb Weston Holdings has raised its full-year net sales and profit forecasts due to higher prices for its frozen potato products and reduced cost pressures. The company, known for supplying McDonald's, saw a 23% increase in overall average selling prices but an 8% decline in volumes, primarily because of exiting lower-priced businesses and retailer destocking in the Asia-Pacific region. As a result, Lamb Weston expects full-year 2024 net sales between $6.8 billion and $7.0 billion, and earnings per share to be between $5.47 and $5.92 for that year, up from their previous forecasts. This positive outlook aligns with trends seen in the packaged food industry, such as Conagra Brands' recent performance. [Reuters]

X removes article headlines in the latest platform update, widening a rift with news media. X, formerly known as Twitter, has made a significant change by removing article headlines from shared posts on its platform, displaying only an image and a link to the article. This move, endorsed by owner Elon Musk, has drawn criticism for potentially causing confusion and contributing to the growing divide between the platform and news organizations. Musk has made various controversial decisions, including altering the verification system and reducing content moderation efforts, leading to concerns about misinformation and hate speech on the platform. [Yahoo Finance]

Amex pilots biometrics in online checkout. American Express (Amex) is testing biometric authentication methods such as fingerprint and facial recognition for online transactions with a subset of its U.S. consumer cardholders. The move is aimed at expediting identification checks for online purchases and offering an alternative to passwords and PINs. The biometric authentication options will be available on major web browsers, iOS, and Android platforms, providing enhanced security and convenience for cardholders during online checkout. However, it is currently limited to online transactions, and there's no confirmation regarding plans for in-store settings. [Payments Dive]

The rise of Birkenstock: How the shoe brand turned an ugly hippie sandal into a coveted fashion statement and has now filed for an IPO. Birkenstock, the German footwear company known for its comfortable cork-sole sandals, is pursuing an IPO with a potential valuation of up to $9.2 billion. The company has also added Alexandre Arnault, the son of LVMH chairman Bernard Arnault, to its board of directors. Over its nearly 250-year history, Birkenstock evolved from a family-run insole manufacturer to a fashionable brand, shedding its initial "ugly" hippie sandal image and gaining popularity in the fashion industry. [Insider]

Pandora Partners With British Fashion Council for The Fashion Awards 2023. Pandora, the well-known jewelry brand, has been named the Principal Partner for The Fashion Awards 2023 (TFA), organized by the British Fashion Council (BFC). The partnership aims to transform the event into a global platform celebrating the intersection of fashion, culture, and entertainment. This collaboration will also support the BFC Foundation, emphasizing the event's importance as the primary fundraising opportunity for the foundation. [Forbes]

Incoming Macy’s CEO calls Bloomingdale’s brand a ‘growth vehicle’ for the company. Macy's incoming CEO, Tony Spring, views Bloomingdale's as a significant growth opportunity for the company, emphasizing the importance of curating products and enhancing the customer experience. Macy's plans to expand its small-format store strategy, including smaller Bloomingdale's locations known as "Bloomie's," which have been successful. Both Spring and current CEO Jeff Gennette believe that Macy's has a competitive advantage in holiday retail, with a strong focus on beauty and gift-giving, accounting for over 40% of brand sales during the fourth quarter. [CNBC]

Rite Aid faces NYSE delisting. Rite Aid is facing the possibility of delisting from the New York Stock Exchange (NYSE) due to its poor financial performance, with a 30-day average market capitalization of around $49.97 million and an average closing stock price of 88 cents per share as of September 27th. The company has been exploring various options to address its financial issues, which may involve significant corporate transactions or remedial measures. Additionally, Rite Aid is dealing with lawsuits alleging its contribution to the opioid abuse epidemic in the U.S. by unlawfully filling opioid painkiller prescriptions. [Retail Dive]

Tesla has requested the government of Nuevo Leon in northern Mexico to build infrastructure, including energy, water, road, and rail facilities, to support the construction of a new automotive plant in the region. The "Gigafactory" project is expected to generate significant economic benefits for the area, with an estimated $15 billion in revenue over the next two years. Tesla and the Nuevo Leon government are in the early stages of planning investments and infrastructure development for the project, which is anticipated to boost regional growth. [Reuters]

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

Want to submit a role to our talent board? Email [email protected].

  • Principal Engineer (New York City, NY) Grubhub - more here

  • Senior Director, Strategic Account Business Development and Management (New York City, NY) Peloton - more here

  • Senior Quality Assurance Engineer (Remote) LogicManager - more here

  • VP of Product Management (Los Angeles, CA) Demand.io - more here

  • Senior Software Development Engineer, GNET (Seattle, WA) Remitly - more here

✈️ Upcoming Industry Events – mention Retailist at one of these events for 15% off a promotion bundle

Email [email protected] to learn more.

ABOUT RETAILIST

Retailist Magazine is an outlet focused on modern commerce as it relates to digital innovation. The publication examines our culture’s ever-evolving relationship with marketing, commerce and traditional retail. Our goal is to connect our audience to quality content and award programs for retail brands to tell their story of innovation. The publication was launched in Summer 2020 with overwhelming support from thought leaders across the globe.

These experts stand at the helm of their niche in retail and provide readers with real-time, trending insights to ensure you remain on the bleeding edge of commerce innovation. Contributing thought leaders include C-suite executives from Hubspot, Wix, Printful, Global-e, Zapaygo, TradeGala, Birdie, Inurface Media, and more.