The Week Ahead: NBA Playoffs begin, and Target, Kohl’s give business updates
The National Basketball Association Playoffs begin in Orlando. As Major League Baseball and other sports struggle with sporadic COVID-19 outbreaks, the NBA has gotten by without any disruptions, proving that at least so far its bubble approach is working
Kohl’s reports second-quarter earnings. While the chain, like most department stores, has struggled with sales during the pandemic—first-quarter sales fell more than 40 percent—one recent report showed some improvement. Placer.ai, which analyzes foot traffic, found that Kohl’s year-over-year visitor count was down 26 percent during the week of July 20, a better figure than competitors Macy’s and Nordstrom.
Digital Food & Beverage begins its two-day virtual event. Panels will focus on the rise of digital-focused food and beverage companies, as well as how legacy brands are managing their transformation. Optimizing fulfillment options, managing digital distribution, content and consumer engagement will also be discussed.
Target reports second-quarter earnings. The Minneapolis-based chain has been one of the few retailers gaining ground during the pandemic, as consumers stock up on essentials via online ordering and services like curbside pickup. However, virus-related expenses such as store cleanings and more benefits for employees has taken a financial toll, totaling around $500 million in the first quarter.
Ad Age hosts a virtual town hall addressing racism in advertising. Speakers include Adrian Parker, Patrón’s global marketing VP; Sheereen Russell, VP of ad sales and inclusive engagement for OWN: The Oprah Winfrey Network; and Rashad Robinson, president, Color Of Change. For the full line-up and to register, click here.
Mirren hosts the latest event in its webinar series focused on how best to make the virtual pitch stand out in the “new competitive review/RFP process.” Thanks to the pandemic, most pitches have either been paused, halted outright or shifted to virtual platforms including Zoom, Google Hangouts and Microsoft Teams.
Estée Lauder reports earnings. The pandemic has been ugly for beauty, with sales last quarter down nearly 12 percent at L’Oréal and a far worse 39 percent at Revlon. Estée Lauder had been the unblemished star of the business for many years. There are low expectations for the just-completed quarter but higher hopes for a rebound in years ahead.
The Association of National Advertisers holds a one-hour webinar on building experiential events in a COVID-19 world. Discussion will focus on strategies and best practices in face of current restrictions. Yadira Harrison, co-founder of experiential agency verb, will also share insight for pivoting in-real-life activations to digital.