shopping

Tesco’s New CEO Takes Over as Online Shopping Surges in U.K.

(Bloomberg) — Tesco Plc’s new chief executive officer reported a strong rise in first-half sales as more people bought groceries while working from home during the pandemic.



a person standing on top of a table: A worker works on his laptop in his kitchen whilst working from home in Danbury, U.K., on Tuesday, April 7, 2020. Among the decisions that my need to be made in U.K. Prime Minister Boris Johnson's absence are whether and when to tighten, extend or lift the current lockdown, which has seen all bars, restaurants and all non-essential shops closed, and people urged to work from home where they can.


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A worker works on his laptop in his kitchen whilst working from home in Danbury, U.K., on Tuesday, April 7, 2020. Among the decisions that my need to be made in U.K. Prime Minister Boris Johnson’s absence are whether and when to tighten, extend or lift the current lockdown, which has seen all bars, restaurants and all non-essential shops closed, and people urged to work from home where they can.

Tesco’s like-for-likes sales in the U.K. and Ireland, its core market, rose by 7.2% as people ate more at home than in cafes and restaurants. The pandemic has resulted in higher costs of running its stores, however, and the sales gain was slightly below analysts’ expectations.

Ken Murphy, a former executive

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beauty

Online beauty marketplace GEENIE is expanding ‘with the help of our community:’ CEO

At a time of rising demand for products that come from businesses run by people of color, Chana Ewing launched GEENIE, an online beauty store and community of “culture-first brands.”

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“We launched right at the tail end of July, early August, and we launched at the time with just five brands and five lipstick SKUs. Since then, we’ve expanded to nine brands and have over 20 SKUs, and we expanded with the help of our community,” said Ewing.

Ewing tells Yahoo Finance that the company enables consumers to discover, shop, and share brands they believe in.

“So that’s including BIPOC, LGBTQ+, women-owned brands, but also sustainable clean, toxic-free [products],” she said. “Our idea is that you shouldn’t have to bounce around the internet to be able to find brands and source products from communities that you’d like to shop from that also meet the same sort of ethical

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shopping

Columbia Sportswear CEO Tim Boyle on online shopping after coronavirus

Columbia Sportswear CEO Tim Boyle told CNBC on Thursday the coronavirus pandemic’s acceleration of online shopping trends will not lead to the ultimate demise of physical retail.

But the longtime apparel executive acknowledged the health crisis altered the company’s outlook on how large e-commerce will be going forward. 

“I think the move to digital purchasing on all sorts of products, but especially apparel and footwear, is here to stay and will probably be bigger than we had originally thought,” Boyle said on “Closing Bell.” 

In its July quarterly earnings report, Columbia reported a 40% decline in overall net revenues due in part to pandemic-related store closures. However, the outdoor apparel maker’s e-commerce sales spiked 72% compared with the year-ago period. 

Underscoring the importance of a strong online shopping experience for customers, Boyle said the company’s “only surviving” capital expenditure project in 2020 was “a real complete redo on our own

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fashion

Saks CEO Talks Fashion, Flagship and the Go-Forward Agenda

For the holiday 2020 season, Saks Fifth Avenue isn’t following the pack.

While many retailers, desperately trying to navigate the health crisis, have already started or will start the push to sell holiday gifts four to six weeks earlier than last year, Saks isn’t rushing into it.

“Our gifting story starts about the same time. It’s mid-November when we start the push. We’re not moving it up,” Marc Metrick, president and chief executive officer of Saks Fifth Avenue, said. “Saks approaches holiday a little bit differently than Lord & Taylor and Macy’s.”

Aside from discussing holiday 2020, Metrick in a wide-ranging Zoom call interview, said online sales are up by double digits; brick-and-mortar is flat, and the Fifth Avenue flagship is having a tough time, though he contended Saks is capturing market and beamed about men’s wear as the best-selling department.

Saks has been mostly mum on its plans for

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model

BridgeBio’s en route to proving out its ‘Moneyball’ for biotech model: CEO

BridgeBio Pharma CEO and founder Neil Kumar
BridgeBio Pharma CEO and founder
Neil Kumar, Ph.D. (BridgeBio Pharma)

When Neil Kumar, Ph.D., started BridgeBio Pharma in 2015, he met a lot of rejection. Investor after investor passed on his idea: picking up rare disease treatments “lying fallow” in academia and developing enough of them simultaneously that they would make money. Now, five years, an IPO and more than 20 programs later, BridgeBio is showing its backers what it’s made of.

Kumar chalks the company’s momentum up to two things.

“Initial growth, well, it makes sense for any company. Going from zero to one or two is what anyone will do,” he said. But the ability to go beyond one or two programs to four in phase 3, four more in phase 2 and several in phase 1 or almost in phase 1? That comes down to a set of simple rules BridgeBio repeats over and over, and its

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model

Google CEO Sundar Pichai Calls For A ‘Hybrid’ Work-From-Home Model

In an interview with Alphabet CEO Sundar Pichai at the TIME100 Honorees: Visions for the Future event, the chief executive said that the search engine giant will be more “flexible” with its workers and offer a “hybrid” model that will include a blend of both remote and in-office methods of working. Pichai, who was recognized by TIME as one of the world’s most influential people, acknowledged that his employees have distinct needs, as it relates to their work style and preferences. 

In an attempt to offer a worker-friendly environment, Pichai said, “We firmly believe that in-person, being together, having a sense of community is super important when you have to solve hard problems and create something new so we don’t see that changing. But we do think we need to create more flexibility and more hybrid models.” He feels that this approach

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