Retail News

Columbia House, famous for its ads promising 12 CDs for a penny and similar deals on cassettes or records, will soon be ceasing operations. Reports suggest it had been making as much as $1.4 billion in revenue at its peak in the mid-1990s (more).

A recent survey indicates that the brands scoring highest marks with Gen Z shoppers are Apple, Nike, Costco, Adidas, Samsung, Amazon, Lululemon, and CeraVe. Starbucks, Uniqlo, Dove, and Walmart followed close behind in the Rival Technologies poll (more).

American companies such as General Motors, Nike, and Starbucks are losing a significant amount of ground in the Chinese market due to local competition, a struggle to attain cultural relevance, and broader geopolitical concerns (more).

Amazon has committed $500 million toward cloud and AI training for university students under a new program titled Student Rewards, via AWS Builder Center. Verified students gain access to credits, premium content, and certification vouchers (more).

Walmart raised its full-year guidance as a strong second-quarter report card saw results which topped Wall Street projections. In addition, Walmart is using its roughly ~$2.9 billion in tariff rebates largely to lower prices for consumers, with the impact of that move likely being felt throughout Q3 (more).

Costco is partnering with nonprofit insurer SCAN Group to offer private medicare plans to customers across a number of states — so far, planning Medicare Advantage plans in two states and a Medicare supplemental plan in a third. “We’re trying to create a win-win − something that was going to be good for seniors, good for SCAN and good for Costco,” SCAN Group and SCAN Health Plan CEO Sachin H. Jain said (more).

David’s Bridal has finished the first season of its reality series, “Breaking Bridal,” which is released on YouTube. “The fun part was making something that didn’t feel like a typical bridal campaign, it is entertainment first, and the brand woven in naturally,” said CEO Kelly Cook of the venture (more).

A majority of U.S. shoppers (73%) will participate in Labor Day sales, but the bulk of these (42%) are focusing on essentials, including groceries. Heavily discounted items such as patio furniture and outdoor items will see relatively low interest (13), as will mattresses (11%), per survey data (more).

Shein is bringing back its Campus Tour, this time visiting four U.S. states including two stops in Georgia, two stops in North Carolina, and a stop each in Florida, and New Jersey. Games, giveaways, photo opportunities, and other attractions aim to bring college students to the events (more).

Target’s turnaround effort could be working, if its Q2 report card is any indication. Net sales were up 5.3% YoY, and comp sales improved by 3.8%, beating estimates of 2.4%. “We’re encouraged by the progress made so far, and we’re also clear-eyed about the important work still ahead,” CEO Michael Fiddelke said (more).