In today’s top retail news, Five Below has expanded its partnership with Instacart, while Canada Goose plans to end the use of fur in all of its items. Plus, Nike has remained bullish on the expansion of its digital and direct-to-consumer (D2C) business.
Five Below, the off-price retailer, has grown its collaboration with Instacart on the heels of a successful pilot rollout with the logistics platform in December of last year. The two companies initially launched their collaboration at some stores in Baltimore, Buffalo, Chicago, Cleveland and Detroit, as well as locations in Florida, California and Texas.
Canada Goose, the high-end outerwear brand, intends to end the use of fur in all of its products. The firm says it will stop purchasing fur by 2021’s end and will stop making products with fur by 2022’s end at the latest. This news comes as Canada Goose launched its Standard Expedition Parka, its “most sustainable parka to date” per a release.
Nike has stayed bullish on the growth of its digital and D2C business, company leaders told investors, forecasting that digital will comprise half of the sports apparel firm’s business by the middle of the decade. “We’re supercharging how we serve consumers with convenience, innovation, content and service,” President and CEO John Donahoe said.
CarMax is seeing a bright future, posting record quarterly results amid its emphasis on expanding its digital presence and a supply chain shortage for new vehicles that is leading purchasers into the secondhand auto market. The firm reported that revenue reached $7.7 billion in the three months concluding May 31, up 138 percent over 2020 and 43 percent over 2019.