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Express Inc. Net Sales Drop 53 Pct Amid Pandemic

PYMNTS

reported “continued momentum” with its The EXPRESSway Forward long-term strategy, as a phased reopening of retail locations started on May 1. The retailer, however, reported that consolidated net sales dropped 53 percent to $210.3 Additionally, Express said it decreased its forecasted yearly capital expenditures by roughly $25 million.

Columbus 130
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Today in Data: Amazon’s Powerful Presence

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Amazon is a powerful presence in the retail industry. There’s no doubt about the magnitude of the effect it has had on retail and the players in it. Almost every day in the news cycle, there is a mention of the eCommerce giant, whether it’s one of their own announcements or someone comparing an aspect of the retail industry to it.

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The Limited Brand’s Days Could Be Limited

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After disappointing third quarter financial numbers, clothing retailer The Limited may be be going in another direction. The Limited Stores told Internet Retailer in a statement: “After a detailed and thoughtful review, management has made the difficult decision to separate a number of associates at the company’s headquarters in New Albany.

Ohio 100
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Oros Takes Activewear Into The Space Age

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Investors in the seed round include Sonny Vu, the founder and former CEO of Misfit Wearables; Eric Dobkin, a former partner at Goldman Sachs known as “the Father of the Modern IPO”; NCT Ventures in Columbus; and Listen Ventures, a brand-focused venture capital firm based in Chicago.

Branding 108
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Whole Paycheck Tracker: Accelerating Automation To Capture Consumer Spend

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Robotics and automation were areas of focus for both retailers this week as they seek to upgrade their operations in an effort to capture more consumer spend. The move comes as cities and states are passing bans on cashless retail establishments, on the argument that such retail discriminates against unbanked consumers.

Taxes 100
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Peapod And Alexa Deliver Greater Grocery Ordering Convenience

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Its online grocery shopping services were provided in partnership with Chicago’s Jewel supermarket, Columbus, Ohio’s Kroger, San Francisco’s Safeway and Houston’s Randall’s. The eCommerce giant reportedly plans to invest $500 million in the food segment as it capitalizes on increasing Internet penetration in the country.

Columbus 100
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Gonzo Notes from Money20/20

Gonzobanker

We are rotating the team, as Misters Kilmer and Weikart reported that rehab from BAI Retail Delivery is taking a bit longer than estimated.) Brian Mooney, CEO of Merchant Customer Exchange (MCX), also used his stage time to talk about the pilot under way in Columbus, Ohio, with many merchants. MCX gets credible volume and partnership.