1. Dollar Tree to shutter 390 stores
Dollar Tree, the parent company of the budget stores Dollar Tree and Family Dollar, has announced that it will close nearly 400 Family Dollar stores in 2019. This announcement comes just weeks after budget shoe brand Payless announced liquidation. Once considered safe from the retail apocalypse, it seems like even discount retailers need to start planning to stay afloat, especially in an era when Amazon is selling essentials at steep discounts with free shipping!
2. Ticketmaster teams up with Amazon
Amazon’s voice assistant Alexa has reportedly added a new skill which lets shoppers discover and buy tickets from Ticketmaster using their voice. Users will be able to tell Alexa to find events on Ticketmaster and can finalize their ticket purchase by linking their Ticketmaster account to Alexa. According to Forbes, Amazon reportedly sought to partner with U.S. venue owners to sell event tickets in direct competition with Ticketmaster after failing to secure a ticket distribution deal with Live Nation in 2017. However, Amazon eventually abandoned its plans to enter the U.S. ticketing market in 2018. It also closed its existing ticketing business in the U.K last year.
3. Charlotte Russe announced liquidation, to close remaining stores
Charlotte Russe announced on Wednesday that it will close all of its stores and is in negotiations to sell its Intellectual Property. The company is partnering with SB360 Capital to liquidate its remaining inventory. SB360 said that going-out-of-business-sales have started in Charlotte Russe’s remaining 416 stores across 44 states and Puerto Rico and that its online store has been shuttered.
4. West Elm partners with Rent the Runway
West Elm has partnered with Rent the Runway to bring in a new line of home decor and furnishing into the latter’s merchandise collection. This is the first time that RTR has expanded beyond its product assortment of Apparel, Accessories, and Dresses, and the first time that West Elm is renting out its products, Retailtouchpoints said. At a time when digital brands are finding their way into retail store shelves, this partnership is a rare sight in that it’s the other way around!
5. Bonobos debuts Women’s collection
Timed with Women’s History month, Men’s clothing retailer Bonobos has debuted its Women’s collection. The clothing line reportedly has the same colorful prints as the men’s line.“If you’re going to engage a female audience and a male audience on women’s history month it felt strange to not have something they could engage with on a product level,” Bonobos CEO Micky Onvural told Retail Dive. She also said that there aren’t bigger plans to dive into the category right now.