“We’re convinced that most of the [shift to online shopping] will persist beyond the pandemic," CEO Doug McMillon says.
The surge in e-commerce reflects shifting shopping habits amid the coronavirus pandemic and helped power a 9.3% gain in Walmart's same-store sales.
"Thank goodness that we had a seven-day network when this absolute tsunami of packages hit us," CFO Alan Graf says.
Retailers offered omnichannel sales earlier in the season, "meeting consumers’ demand for the best deals across all channels and devices."
Consumers made $2.9 billion in purchases from their smartphones, a record for mobile sales.
A Chapter 11 filing would be the second for the shoe retailer in less than two years amid heavy debt and online competition.
The grocery store chain says its Restock Kroger plan has gotten off to a "fantastic start," with digital sales, a key focus, up 66% in the first quarter.
The rough holiday quarter for discount chains continues as Dollar Tree's margins were pressured by rising labor and freight costs.
The retailer "may hit the top line, like you saw this quarter, but will we see that flow through to the bottom line?" one analyst says.
The $550 million deal positions Target to compete with Amazon and Walmart in the same-day delivery wars.
The mall operator is being sold to Unibail-Rodamco as global retail adjusts to the shift of consumers from physical stores to online shopping.
"While other players in the sports and athleisure market struggle, Lululemon continues to go from strength to strength."
