Overstocks are hitting large retailers the hardest
July 13, 2022
Inventory levels are high for almost all retailers but especially at larger chains, according to industry experts. “You could look at an inventory-to-sales ratio and say, ‘Oh, they look like they’re doing OK,’” said Nikki Baird, vice president of strategy at Aptos. “But what’s happening under the covers is they’re way overstocked in these categories, and they’ve sold out on these, and they still can’t get a lot more of the things that are moving fast.”
Recent News
Dom’s and Foxtrot Grocery Stores Close After Merger
Dom’s Kitchen & Market and Foxtrot Market, two grocery chains based in Chicago, have announced the closure of all their stores. This decision comes six months after the companies merged.
US Federal Trade Commission Bans Most Noncompete Agreements
The FTC has voted to ban almost all noncompete agreements across the country. These agreements often stop employees from working for competing businesses or starting their own ventures.
Tesla Accelerates the Launch of More Budget-Friendly EVs
As a result of the rapid revenue decline in the first quarter of this year, Tesla is channeling its efforts to launch more affordable EVs sooner than expected.
Congress Passed a Potential TikTok Ban, Influencers Are Worried About Their Careers
After Congress passed a potential TikTok ban, TikTokers expressed growing worry over the “devastating” impact it would have on their careers.