In today’s top retail news, iconic footwear brand Crocs reported that digital sales soared by 75.3 percent, while FedEx revealed a new partnership with Adobe Commerce. Plus, video game retailer GameStop has raised $551 million via the sale of 3.5 million new shares of stock.
Crocs reported that digital sales jumped by 75.3 percent to represent 32.3 percent of revenue for Q1 2021. The firm noted that sandals revenues increased by 17.1 percent to represent 17.3 percent of shoe sales. “Demand for the Crocs brand is stronger than ever with expected 2021 revenue growth of 40 percent to 50 percent,” CEO Andrew Rees said in an announcement.
FedEx unveiled a new partnership with Adobe Commerce as it goes beyond the last mile and dives deeper into online commerce. Adobe will be connected with ShopRunner, which FedEx purchased late last year. The connection will provide Adobe merchants with access to FedEx post-purchase logistics intelligence, according to a statement from FedEx.
GameStop has landed $551 million through the sale of 3.5 million new shares of equity, the retailer announced, noting that the infusion would be harnessed to keep speeding up its transformation in addition to general corporate purposes. The so-called “at-the-market” share sale comes after the retailer’s stock has surged almost 1,000 percent in the last half of a year.
The world’s biggest toymaker said on Tuesday (April 27) that the pandemic-era digital shift saw its first-quarter online commerce revenues jump by 70 percent. Hasbro, which is based in Rhode Island, said total revenues increased by 1 percent for the quarter to $1.1 billion, as adjusted operating profits climbed by 15 percent to $174 million for the three months concluding March 28.
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