Retail Dive rounded up their 12 biggest retail stories of the year – and what a year it was. Seriously, when future historians study 2018 (assuming there are historians and a future), they’re going to have an aneurism.
A quick recap: In January, Toys R Us filed for bankruptcy, a move that proved less life-raft and more white flag. In February, Lululemon’s CEO was tossed following allegations of misconduct and his role in the company’s “boy’s club culture,” and in March, Nike brand chief Trent Edwards stepped down amid his own misconduct allegations, throwing the company’s once rock-solid succession plan into total chaos.
Sears filed for bankruptcy in October, J. Crew’s new CEO stepped down in November after just 17 months (or roughly 47 Scaramuccis) and in May, Walmart spent $16 billion on Flipkart, which is, apparently, a company.
It was a bad year for malls — their vacancy rate was 8.6 percent in July, “the emptiest they’ve been in six years” — and, for those of us who justifiably forgot, the Supreme Court settled a long-standing case regarding taxing e-comm transactions, ultimately “striking down a law that previously only mandated that companies with a physical presence in a state must collect and remit sales tax.”
For the rest, head over to Retail Dive.