From Toys "R" Us to some awesome updates from Starbucks, it's been an incredibly busy and momentous week in retail and work news. We culled through the news and found some of the most interesting facts and figures that have dominated the headlines. Each of these data points and numbers correlates to a story we explore more below. So, without further ado -- here's the numbers and figures that are making news in the world of work this week.
As always, thanks for reading and be sure to forward to friends and colleagues who would benefit. Shift on!
Numbers & Figures Making Headlines This Week
☕️ 100% - the percentage of Starbucks employees who have reached pay equity, among genders and races in the United States.
🔥 30.1% - the percentage increase of fourth-quarter net sales for discount chain Five Below. Sales rose to $504.8 million, up from $388.1 million in the year-ago quarter.
🎮 735 - the number of Toys "R" Us stores in the United States that will either close or be sold.
😔 31,000 - total number of employees who would be out of work if the toy store chain goes completely out of business.
👗 $50 - the price-per-share bid that was rejected today this week, a That a 23.5 percent premium over where the stock traded when the family first said it was exploring a buyout.
🏀 1.4 billion - The number of combined likes and users following NBA team social media accounts that will now receive content and stories from the mindfulness app, Headspace.
📺$79 - The price that a new Walmart service will cost to have televisions hung at your home. Provided through Handy, Walmart will be rolling out the home-assembly program to 2,000 stores in the U.S.
☕️ Pay Gap Faces Brewed Awakening | Via: Mashable
What's brewing at Starbucks this week? How about the brand achieving 100% pay equity among all its employees in the United States. This moment was a decade in the making and the Seattle coffee roaster used a variety of tools to address pay gaps and analyze raises and bonuses by unblocking systemic bias. Starbucks will also no longer ask prospective candidates about salary history because they'll provide up-front pay information.
🌡Five Below Is On Fire 🔥 | Via: RetailDive
Five Below on Wednesday reported fourth-quarter net sales jumped over 30% to $504.8 million, up from $388.1 million one year ago. Five Below joins a handful of other similar retailers like Dollar General and TJ Maxx who are doing exceptionally well during a questionable period in retail. Five Below looks to continue capitalizing on the success and plans to open 125 additional stores this year.
😱When The Malls Come Tumblin' Down | Via: Seeking Alpha
Another day, another article about the coming retail apocalypse. This week, news about the pending closures and store-shutterings of both Claire’s and Toys “R” Us has led to increased speculation about the future of malls and retail centers that will soon see gaping vacancies in tenants. What stores fill those locations will be up to the ownership structure and whether these locations are at choice “A” locations, lesser “B” and “C” mall locations, or at stand-alone structures and strip malls. What becomes of those locations now becomes one of the most compelling unanswered questions that riddles the retail industry.
The Big Idea 🤔
🔧Need A Helping Hand? | Via: TechCrunch
Walmart is adding a helpful, handy service to more than 2,000 U.S. stores. Think of it as a home ‘Geek Squad’ for furniture assembly and television mounting. The service will be provided through Handy starting in April and customers can make appointments in-person or on their website. This comes on the heels of similar offerings at Ikea, which partnered with TaskRabbit last fall to help consumers have their furniture assembled at home. The costs are quite similar: * Handy charges a flat $59 fee for furniture assembly and $79 for television mounting. * Ikea’s TaskRabbit charges a flat rate per type of item, starting at $36 and going up for more complicated assemblies, which we know is most every Ikea item.
😍 Taking Work...Outside? | Via: CNN
Remember in school when the weather was warm, you’d be lucky enough to attend class outside? Recall how wonderful that felt to change the monotony and daily grind just a bit? Well, now there is a growing trend to hold work in outdoor spaces. As companies start to place more emphasis on office design -- a shift to tap into creativity and efficiency is taking place where office designers are utilizing outdoor spaces for work and meetings. Look no further than “The Spheres” which adorn Amazon’s Seattle HQ -- a space that contains plants, trees, and even a waterfall, but distinctly lacking in traditional office spaces like cubes and meeting rooms -- although employees are encouraged to hold court there. "We know there are tons of studies out there that talk about how people react and feel when they are among greenery and in nature," said John Schoettler, senior manager of global property management at Amazon. "We thought about how we could bring that to today's workplace. It's a place for people to have the chance to meet to think and refresh and work and collaborate among nature with coworkers."
🏀 NBA State Of Mind | Via: Sports Illustrated
Since “Moneyball” was published in 2003, the game has officially changed in professional sports. Teams have shifted resources to focus on any competitive advantage that produces wins and titles, often in the form of number-crunching, advanced metrics and statistics, and even exploring the worlds of diet and sleep. Today, the NBA announced a unique partnership of their own with Headspace, a mindfulness app that will provide 7,000 free subscriptions (valued at $96 per year) to NBA players, staffers and the G-League. In return, the NBA will co-produce content on the platform which has a reach to more than 1.4 billion user likes and followers around the world. It’s an intriguing media play for Headspace and could be much more lucrative than the expensive ad-buy to penetrate the world of sports.
🤖🚚 Where A Robot Can Be A Robot? | Via: Seattle Times
Last week, we reported that Toys''R''Us fire sales would begin, predicting the looming closure of more than 180 of its American stores. Now, it appears that Amazon.com could be considering buying some of the stores. In a move that is similar to its acquisition of Whole Foods, the retail locations could be a plug-and-play option to fuel its growing brick-and-mortar locations and more importantly aid in supply chain hurdles and get product to consumers faster.
Heard Around The Web 💬
👗 Nordstrom Remains Public | Via: Bloomberg
Nordstrom has ended the 'will they go private or won't they' chatter. A special committee of Nordstrom's board of directors, tasked with working with Nordstrom family members to explore taking the department store retailer private, on Tuesday said that it has terminated discussions on that effort. "The special committee took this action because it could not reach an agreement with the group on an acceptable price for the company," the company said in a press release.
🎯 Loyalty Matters | Via: The Points Guy
Today, Target announced the rollout of their new loyalty program, “Target Red” which would be piloted in the Dallas-Fort Worth, Texas market. The program builds up 1 percent of purchases towards future purchases and offers the Restock subscription free (formerly, $5 fee). In addition, new members can get half-off the new Shipt home delivery membership. The hope here for Target seem to correlate to a full-ramp of Redcard memberships and the goal of retaining repeat, core customers.
Subscribe to Shiftonomics by Branch
Get the latest posts delivered right to your inbox