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Skims raises $225 million in funding, reaches $5 billion valuation
ReverseLogix.com CEO Gaurav Saran on how return fraud continues to hinder operations at retailers. Skims said Wednesday it has raised $225 million in new funding, boosting the shapewear and apparel company’s valuation to $5 billion. Founded in 2019 by Kim Kardashian and business partner Jens Grede, Skims plans to use the new funding to drive […]
Outdoor retailer REI plans to close three Northeast stores in 2026: report
Storch Advisors CEO Gerald Storch discusses Adobe’s prediction that online spending this upcoming holiday season will grow at a slower pace on ‘Varney & Co.’ Outdoor retailer Recreational Equipment, Inc. (REI) reportedly plans to close three of its U.S. stores next year. The closures will affect REI locations across the Northeast, including Paramus, New Jersey, […]
The iconic Hermès Birkin bag was born following a chance airplane mishap
Born from an in-flight mishap, the Hermès Birkin became more than a handbag—it redefined luxury, exclusivity, and desire. Author Marisa Meltzer explains the birth of the Birkin in her new book “It Girl.” The Hermès Birkin may now stand as the ultimate symbol of status and exclusivity, but it began by chance — the result […]
Costco’s new morning hours for executive members drive sales growth
‘The Big Money Show’ explores companies turning against DEI policies while Costco bucks the trend. Costco Wholesale announced its fourth quarter and fiscal year 2025 earnings results Thursday, touting its new global locations, digital upgrades and the impact of its expanded hours for executive members. The retailer launched exclusive morning hours for executive members in […]