Us Retail Sector
Lululemon CEO Calvin McDonald to step down after year of weak sales in US
Lululemon Athletica Inc on Thursday said its CEO Calvin McDonald will step down effective January 31 as the athletic wear maker wrestles with a year of disappointing sales. The company, based in Vancouver, Canada, said that McDonald and the board are working together to manage a "smooth transition," and he will serve as a senior advisor to the company through March 31, 2026. The board said it was conducting a comprehensive search in partnership with a leading executive search firm to select his successor. McDonald took the helm in 2018. Lululemon said Marti Morfitt, the board's chair, will take on the expanded role of executive chair, effective immediately, to "ensure the continued execution of the company's near- and long-term growth strategy during the leadership transition." In addition, Meghan Frank, chief financial officer, and Andr Maestrini, chief commercial officer, will serve as interim co-CEOs following McDonald's exit, the company said. The announcement came alongside .
 "Lululemon CEO Calvin McDonald to step down after year of weak sales in US")
FCC crackdown: US retailers remove millions of banned Chinese electronics
Major US online stores have removed millions of Chinese electronics banned by the FCC, including cameras and smart watches, as part of national security measures
 "FCC crackdown: US retailers remove millions of banned Chinese electronics")
US retail sales increase more than expected in Nov on strong demand
Signs of strong domestic demand added to warmer inflation readings in recent months in suggesting that the Fed could pause rate cuts in January
 "US retail sales increase more than expected in Nov on strong demand")
World stocks regain stability as US retail sales report reassures
Retail sales increased 1.0 per cent last month, well above market forecasts for a 0.3 per cent gain, the Commerce Department's Census Bureau said
 "World stocks regain stability as US retail sales report reassures")
Retail sales up 1% in July after 0.2% drop in June, says US commerce dept
Retail sales increased 1.0 per cent last month after a downwardly revised 0.2 per cent drop in June, the Commerce Department's Census Bureau said on Thursday
TCS announces multi-year tech support deal with British retail firm Asda
Indian firm will build a new digital core to streamline Asda's supply chain forecasting, merchandising processes
 "TCS announces multi-year tech support deal with British retail firm Asda")
US retail sales post second straight monthly drop, factory output falls
Ebbing demand for goods is undercutting production at factories, with other data on Friday showing manufacturing production declining last month
 "US retail sales post second straight monthly drop, factory output falls")
Wall Street falls as growth stocks slide, Target weighs on retail shares
US retail sales flat in July; core sales rise; retailer Target's quarterly profit slumps
 "Wall Street falls as growth stocks slide, Target weighs on retail shares")
Top Headlines: Macy expenditure cut to hurt Indian IT cos, 5G auction Day 4
Macy's has informed its tech vendors of a 10-15 per cent cut in the IT budget for this year amid fears of a recession, a move that may hurt IT companies. Read more on this in our top headlines
 "Top Headlines: Macy expenditure cut to hurt Indian IT cos, 5G auction Day 4")
Walmart forecasts profit above expectations as demand holds firm
Net revenue in Walmart's fourth-quarter showed a surprise 0.5% increase to $152.87 billion
 "Walmart forecasts profit above expectations as demand holds firm")
US retail sales rebound sharply to increase 3.8% in January: Govt data
December retail sales revised to show steeper decline; core retail sales jump 4.8%
 "US retail sales rebound sharply to increase 3.8% in January: Govt data")
Amazon plans to open large physical retail stores in US: Report
The first stores are expected to be located in Ohio and California and will be about 30,000 square feet in size, which would be smaller than the typical department store
 "Amazon plans to open large physical retail stores in US: Report")
Brooks Brothers, clothier for 40 US presidents, files for bankruptcy
Brooks Brothers was one of the few national chains that produced its clothing in the US
 "Brooks Brothers, clothier for 40 US presidents, files for bankruptcy")
US retailers reinvent loyalty programs to fend off challenge from Amazon
Loyalty programs have long relied on a simple concept - reward shoppers with coupons, discounts, prizes or air miles and they will come back
 "US retailers reinvent loyalty programs to fend off challenge from Amazon")
US retail giant Sears files for bankruptcy, to close nearly 150 stores
Sears had been drowning in debt exceeding $5 billion and reportedly could not afford a $134 million repayment that had been due on Monday
 "US retail giant Sears files for bankruptcy, to close nearly 150 stores")
Investors are growing more worried about retail
American retailers have shed jobs on an annual basis for the first time since 2010
 "Investors are growing more worried about retail")
