B&M, Sainsbury's show steady growth; DollarGeneral, Bed Bath & Beyond continue to expand product lines
Sales at British grocery chain B&M fell in the first quarter of the financial year, after the company's exceptionally strong performance last year during the Newcastle pneumonia outbreak.
For the 13-week period from 28 March to 26 June, B&M's revenues rose by 3.1% to €1.18 billion and by 27.7% to €1.15 billion compared to the same period in 2020.
British supermarket chain Sainsbury's recently raised its profit expectations going forward. In the first quarter to 26 June, Sainsbury's sales rose by 1.6% year-on-year as all its product categories performed better than expected.
Online sales of groceries performed particularly well, up 29 per cent, while overall grocery sales were generally up 0.8 per cent.
Apparel sales were also up 58%, while general merchandise sales were down 1.4% from last year's up level, but still better than expected.
Recently, Macy's has continued to push forward with its new shop strategy, including new shop formats, locations and sizes. The company announced on Wednesday that it will open a new Bloomingdale's concept shop on August 26 at the Mosaic District Mall in Fairfax, Virginia.
At 22,000 square feet, the new Bloomingdale's concept shop is much smaller than a traditional Bloomingdale's shop, which Macy's describes as "an evolving, highly curated collection of products".
The new shop will be equipped with a "high-tech stylist service" where in-store stylists can search for products from the nearby Bloomingdale's concept shop, the Bloomingdale's website and the New York flagship shop. The fitting rooms will be equipped with buttons for shoppers to access further assistance.
DollarGeneral, the leading US dollar shop, is expanding its range of health and wellness products and services and wants to become a 'wellness destination' for shoppers.
DollarGeneral has hired its first Chief Medical Officer, Albert Wu, who previously worked at McKinsey & Company. Dollar General has also added dental, nutrition, medical, health aids and feminine hygiene products, the announcement said.
With more than 17,000 shops, Dollar General sees an opportunity to offer healthcare products close to where millions of consumers live, especially in rural communities.
Veteran US department store Neiman Marcus Group recently denied a report in the New York Post that the company was selling its department store chain BergdorfGoodman. The New York Post said last week that Neiman Marcus was in talks with banks to secure financing for its famous Manhattan shops, including a willingness to potentially sell.
A spokesperson for Neiman Marcus noted: "We have no intention or plans to sell Bergdorf Goodman Stores at this time. We are strategically investing in our business and our brands to grow and strengthen the company."
According to the New York Post, Ashkenazy Acquisition, the former landlord of department store Barneys New York, is interested in acquiring Bergdorf Goodman, in part to fill the now-vacant Manhattan building.
Adam Neumann, founder of WeWork, is also reportedly preparing a bid for the company with Sam Ben-Avraham, who tried to buy Barneys New York out of bankruptcy two years ago.
Recently, home furnishing retail chain Bed Bath & Beyond further enriched its self-owned brand with the launch of its latest Squard Away brand.
In anticipation of the back-to-school shopping season, Bed Bath & Beyond has launched a multi-purpose storage and laundry care product range called Squard Away.
The range includes products such as coat racks, shoe racks, wardrobe organisers and storage trolleys, as well as laundry baskets, laundry storage and ironing boards.
Squard Away is the sixth self-owned brand that BedBath & Beyond has launched this year. As part of its three-year transformation strategy, Bed Bath & Beyond plans to launch more than 10 of its own brands in fiscal year 2021.
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