🎉 Hello, Retailist Roundup readers! As we close out another thrilling week, the buzz in retail and e-commerce is undeniable. This week’s roundup is brimming with crucial updates, emerging trends, and game-changing innovations. Get ready to dive into the top stories and see how these developments are shaping the future of our industry!

New from Retailist

How to Streamline Business Operations with Integrated Inventory Management

Inventory is at the heart of operations for many businesses. It’s the key revenue driver for any company selling a product, so effectively managing the incoming and outgoing shipments and staying connected across the sales funnel are essential.

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

In the news: Top headlines this week

Spanx founder launches shoe brand Sneex. Sara Blakely, the founder of Spanx, has launched a new shoe brand called Sneex, three years after selling a majority stake in Spanx to Blackstone. Blakely, who originally founded Spanx in 2000 with just $5,000 in savings, created the brand after struggling to find suitable undergarments for white pants. The sale to Blackstone in 2021 valued Spanx at $1.2 billion, with Blakely retaining a significant stake and transitioning to the role of executive chairperson. Now, she's focusing on reimagining high heels, aiming to address common discomforts associated with them. [Retail Dive]

How Will Real-Time Tracking Affect Retail Delivery? Best Buy has introduced a live tracking feature for large deliveries, such as TVs and appliances, leveraging AI to provide real-time updates. Customers are given a four-hour delivery window and can track the driver's location and estimated arrival time via a map link. This new feature aims to eliminate the frustration of waiting for long delivery windows, enhancing convenience by allowing customers to better plan their day. Best Buy's Chief Digital, Analytics, and Technology Officer, Brian Tilzer, emphasized the value of this convenience in improving the delivery and installation experience. [Retail Wire]

Vans, art collective settle trademark dispute over 'Wavy Baby' shoes. The art collective MSCHF have settled a trademark dispute over MSCHF's "Wavy Baby" shoes, which parodied Vans' designs. As part of the confidential settlement, MSCHF has agreed to permanently cease selling the "Wavy Baby" shoes and using Vans' trademarks. Neither Vans' parent company VF Corp nor MSCHF's representatives have commented further on the details of the settlement.  [Reuters]

Target shares spike as profits rise, despite cautious sales outlook. Target's shares surged after the retailer reported a 3% increase in fiscal second-quarter sales, marking a rebound from previous sluggish performance. The company exceeded Wall Street's earnings and revenue expectations, driven by higher customer traffic and increased purchases of discretionary items like clothing. Despite this positive performance, Target maintained a cautious full-year sales forecast, expecting comparable sales to rise by 0% to 2%, with growth likely at the lower end of that range. However, Target raised its profit guidance, forecasting adjusted earnings per share between $9 and $9.70, up from the earlier estimate. [CNBC]

How J.C. Penney is using AI and machine learning in its supply chain. J.C. Penney is investing heavily in new technology, including artificial intelligence (AI) and machine learning, to modernize its supply chain and boost productivity. As part of its strategy to secure its future post-bankruptcy under new ownership, the retailer plans to invest over $1 billion into its business by fiscal year 2025. With a history spanning over 120 years, J.C. Penney is focused on upgrading its legacy systems and enhancing its operations through advanced technology to adapt to the evolving retail landscape. [Retail Dive]

Will Highlighting Benefits Help Consumers Embrace Dynamic Pricing? Arnab Sinha, BCG’s global leader for revenue management, suggests that the increasing backlash against dynamic pricing is due to its frequent and unpredictable nature, making it difficult for consumers to recognize the benefits. He emphasizes that consumers' acceptance of dynamic pricing largely depends on their perception—whether they see it as a company’s profit-driven tactic or as offering tangible benefits. Sinha highlights that dynamic pricing is already familiar in industries like airlines, hotels, and ride-sharing, where consumers appreciate benefits such as lower off-season travel prices, senior discounts, and end-of-day grocery markdowns. [Retail Wire]

Shein sues Temu over copyright infringement, alleges rival loses money on every sale. Shein has filed a lawsuit against rival Temu, accusing it of copyright infringement and operating a business built on counterfeiting and intellectual property theft. The suit, filed in Washington, D.C., alleges that Temu, owned by PDD Holdings, encourages sellers to copy designs and fails to address admitted infringements. Shein claims that Temu’s low prices are unsustainable and result in financial losses on each sale, suggesting that Temu is subsidizing these losses to attract customers. This legal action comes as Shein faces similar accusations from other brands and artists. [CNBC]

Macy’s Q2 sales disappoint as stores slated for closure post steep declines. Macy's reported disappointing Q2 sales, particularly in stores slated for closure, which experienced steep declines. After rejecting a $6.9 billion takeover bid from activist investors, the company is focusing on delivering value beyond just discounts as it prepares for the crucial holiday quarter. CEO Tony Spring emphasized the importance of creating a compelling shopping experience through merchandising, inventory, and in-store customer service to attract cautious consumers. Despite the soft Q2 performance, Macy's aims to provide strong reasons for customers to shop at its stores. [Retail Dive]

Is Sidewalk Robot Delivery Ready To Roll? Shake Shack has teamed up with Uber Eats to introduce sidewalk robot delivery in Los Angeles, marking a first for the fast-casual chain. Select customers ordering via Uber Eats may be notified that their delivery will arrive by robot, which they can track and retrieve using the app. The robots are supplied by Serve Robotics, a company spun off from Uber in 2021. Serve currently operates 100 robots across 300 restaurants in Los Angeles and plans to expand to 2,000 robots across multiple markets by 2025. These robots are equipped with Level 4 autonomy, allowing them to operate without human intervention. [Retail Wire]

Cramer says Walmart’s strong quarter may not be indicative of consumers as a whole. Jim Cramer of CNBC cautions that Walmart’s strong quarterly performance may not reflect the broader consumer landscape. While Walmart exceeded earnings and revenue expectations, raising its full-year forecast and achieving a new 52-week high in its stock, Cramer warns that this success might be due to Walmart’s effective business strategies rather than a general positive trend in consumer spending. He advises against using Walmart’s results as a broad indicator of retail conditions, especially given ongoing inflation concerns. Despite these challenges, Walmart reported robust performance, including in China, unlike many other consumer-focused companies. [CNBC]

TJ Maxx parent raises annual profit forecast after strong second quarter. TJX Cos, the parent company of TJ Maxx, has increased its annual profit forecast following stronger-than-expected second-quarter results. The retailer is benefiting from lower costs and high demand for its budget-friendly apparel and accessories. TJX's shares rose about 5% in early trading, reflecting positive investor sentiment. The company has successfully maintained low prices over the past six quarters to appeal to cost-conscious consumers amid inflation. [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].

• Senior Detection & Response Engineer (Seattle, WA) Remitly - more here

• Senior Solution Lead (Remote) Bounteous - more here

• Senior Staff Site Reliability Engineer (Portland, OR) Block - more here

• Director of FP&A (New York, NY) ID.me - more here

• Senior Demand Planner (Dallas, TX) Crunchyroll - more here

✈️ Upcoming Industry Events

• eTail East - August 2024

• APEX Retail Conference - September 2024

• Shoptalk Fall - October 2024

• PI Apparel Supply Chain Forum - December 2024

• NRF 2025: Retail’s Big Show - January 2025

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.

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 Vistaprint, Hubspot, Wix, Printful, Global-e, Zapaygo, TradeGala, Birdie, Inurface Media, and more.