ICSC’s Q2-2021 Report shows the ways in which the Marketplaces Industry is returning to normal while still navigating the ongoing impact of COVID-19. There was an increase in consumers’ monthly expenditures in dining as more business reopened and capacity restrictions eased.
Bentonville, Ark.-based Walmart Inc. has seen an increase in revenue during its fiscal second quarter of 2021, which ended on July 31. Walmart’s total revenue was $141 billion, an increase of 2.4 percent year-over-year.
Target Corp. continues to grow faster than it did before pre-pandemic as the discounter reported second-quarter earnings that beat analysts’ estimates, with sales increases across all its merchandise categories.
The TJX Companies made a strong showing in the second quarter with sales and profits that best anaysts’ estimates even as some of its international stores were temporarily closed due to the pandemic. The parent company of T.J. Maxx, Marshalls, Home Goods and other banners, reported net income of $785.7 million.
Toys “R” Us is making yet another comeback and this time it’s betting its future on Macy’s. The toy retailer has entered into a partnership with the department store giant that includes rolling out branded in-store shops to more than 400 Macy’s stores in 2022.
This year is on track to have the least amount of retail stores closing up shop in more than a decade, a huge improvement from the record number of closures last year, according to CoStar Group data. CoStar expects the U.S. to see about 40 million square feet of store closures.
Throughout 2020, home improvement retailers reaped the benefits of consumers spending more time in – and investing more money in – their homes. But even as consumers have begun to venture outside their spaces, demand in the category hasn’t dropped off.