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Kanye West has terminated his contract with Gap after claiming the retailer failed to meet its contractual agreement with the rapper and entrepreneur. “It was always a dream of mine to be at the Gap and to bring the best product possible,” Mr. West said “Closing Bell” on Thursday. “Obviously there’s always struggles and back-and-forth […]
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Moving forward, Patagonia’s profits that are not re-invested into the business will be donated to a group of nonprofit organizations fighting climate change. KEY POINTS Patagonia founder Yvon Chouinard, his spouse and two adult children are giving away their ownership in the apparel maker he started some 50 years ago. The company’s non-voting stock, worth […]

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CFO Richard Galanti says customers not trading down to private label Costco Wholesale has followed up one strong fiscal year with another. The Issaquah, Wash.-based warehouse club chain posted double-digit net and comparable sales growth for its fiscal 2022 fourth quarter and full year, while topping Wall Street’s consensus earnings-per-share forecast for both periods. Related: Costco […]
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RTIH rounds up the retail systems ventures whose funding rounds have been making headlines, including Swiftly, Ryft, Instant Commerce, and 1MRobotics. 1. Ryft Ryft, a PSD2 compliant payments system firm, has raised a seed round, led by SFC Capital. Additional investors include the ex-founder of Shutterstock and the founder of LoveFilm. This brings Ryft’s total […]
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International Fresh Produce Association report gauges sector’s economic impact. The U.S. fresh produce and floral industries support 2.2 million total jobs across all 50 states and $120.1 billion in labor income, nearly reaching pre-COVID levels, according to an economic impact study conducted on behalf of the International Fresh Produce Association. The report highlights the significant role the […]

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