White Castle is deploying AI-powered voice bots in 100 drive-thru lanes by the end of 2024, joining a growing list of fast-food chains adopting automation tools to alleviate labor shortages. The use of AI and robotics is becoming more popular in the restaurant industry, with 58% of operators planning to implement such tech to address…
Companies are cutting back on customer perks and rewards as they seek higher margins and reevaluate their strategies after the COVID-19 pandemic. Airlines are making it harder to earn elite status, retailers are tightening return windows and adding fees, and restaurants are reducing freebies like birthday treats. As consumer spending habits change and businesses face…
GU, a sister brand of Uniqlo, is gaining popularity among millennials and Gen Z shoppers for its stylish and affordable clothing. Owned by the Japanese retailer Fast Retailing Group, GU has grown to nearly 450 stores in Asia and entered the U.S. market in October 2022. The brand offers basics like logo-free T-shirts and minimalist…
Solo Brands, a digitally native company, is expanding its wholesale operations to drive growth and level seasonality. The company has chosen to lean into its existing wholesale customer base, including retailers like Dick’s Sporting Goods, Ace Hardware, Costco, Home Depot, and Lowe’s, as a cost-effective way to acquire new customers and expand its product line….
Party City Holdco is reportedly considering separating its balloon manufacturing and retailing businesses as the retailing arm aims to navigate its way out of bankruptcy. The company has engaged in confidential discussions with debt holders regarding the spinoff of its Anagram unit, but the situation is subject to change. Party City filed for bankruptcy protection…
Shares of Tupperware Brands surged 44% after the company finalized a debt restructuring deal as part of its turnaround efforts. Tupperware had raised concerns about its viability in April due to declining sales, but the debt agreement, which reduces or reallocates $150 million of cash interest and fees, boosted investor interest in the company. The…
Amazon.com saw its shares soar over 8% after an impressive quarterly performance, with its e-commerce and cloud-computing businesses showing strength despite an uncertain economy. The company’s cloud business, Amazon Web Services (AWS), performed better than expected, boosting other trillion-dollar club members like Microsoft and Alphabet. On the other hand, Apple’s shares experienced a 4.8% slide…
Shake Shack is set to have self-service ordering kiosks in all of its restaurants by the end of Q3 as it aims to control labor costs and improve profitability. The kiosks have proven to be the chain’s most profitable ordering channel, generating higher check averages and allowing staff to focus on hospitality-focused tasks. With nearly…
Hip-hop superstar Drake has built a retail empire with his flagship e-commerce site modeled after his $100 million Toronto mansion, The Embassy. Instead of a traditional product grid, the interactive design allows fans to explore virtual rooms stocked with exclusive merchandise, all powered by Shopify’s e-commerce platform. Drake’s latest collaboration, using Shopify’s Collective feature, allows…
Secondhand luxury watch prices have dropped to a near two-year low, falling more than 31% since their peak in March 2022. Brands like Rolex, Patek Philippe, and Audemars Piguet experienced significant declines in the last year, but prices are still higher than they were three years ago. While experts have warned about a luxury watch…
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