Casper's First Store; Macy's Sales Growth; Starbucks' Storefront Views

The numbers you need to know today

February 27, 2018

Free In-Store Naps: Casper has opened its first physical location in New York City. The store will feature six mini bedrooms where consumers will be able to test out Casper's products, including mattresses and pillows. "On day one, we had someone knock on our door and say, 'I’m here to try out the mattress,'" Philip Krim, co-founder of Casper, told The Washington Post. "That’s when we realized, by accident, just how important the physical experience was going to be."

Strong Sales Growth: Macy's reported sales of $8.67 billion for Q4 2017, a 1.8% increase compared with a year prior. "We are encouraged to see a trend improvement in our brick-and-mortar business,” said Jeff Gennette, chairman and CEO of Macy's. Looking ahead, the retailer plans to invest in a number of initiatives that will affect its stores, technology and merchandising. 

Lower Rent: In a memo to leadership, Howard Schultz, executive chairman of Starbucks, said he predicts rent will go down for commercial retail locations. "We are at a major inflection point as landlords across the country will be forced (sooner than later) to permanently lower rent rates to adjust to the 'new norm' as a result of the acute shift (consumer behavior) away from brick-and-mortar retailing to ecommerce,” Schulz wrote in the memo, which was reviewed by Yahoo Finance. According to eMarketer's Retail Database, Starbucks' comparable sales increased 2.o% in Q1 2018.