Business

Fielding Beauty Trends Amid Crisis

In a WWD-produced webinar, “Fielding Beauty Trends,” Sonia Summers, founder and chief executive officer of Beauty Barrage, joined WWD executive editor Arthur Zaczkiewicz in discussing how beauty brands and retailers can emerge from the pandemic stronger than ever using every channel to embrace consumers, and taking clienteling online.

In a nod to a call, particularly in the beauty industry, for companies to pull up or shut up, Summers began the conversation with her own company’s statistics sharing that Beauty Barrage is 100 percent minority female-owned and operated with an employee base of 96 percent female and 80 percent minority employees.

Like many companies, Beauty Barrage was faced with a need to pivot in the wake of COVID-19. While e-commerce has shown increased sales in recent weeks, it is still not enough to offset an overall decline in retail during the pandemic.

“Brands who don’t market and promote their service in

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PayPal Volume Surges With Consumers Flocking to Online Shopping

(Bloomberg) — PayPal Holdings Inc. climbed after executives said a surge in digital payments on its platform in the second quarter marks an accelerating and permanent shift away from cash in the wake of the coronavirus pandemic.

The technology giant, which has been signing up consumers spooked by the virus, said Wednesday it now expects revenue to climb 25% this quarter while payments volume surges 30%. It sees full-year revenue climbing 22%.

“This is our time,” Chief Executive Officer Dan Schulman told analysts on a conference call. “We intend to seize the moment.”

Lockdowns to prevent viral infections, and the ensuing shift to online commerce, spurred people to learn how to make digital payments. That helped boost the number of net new active accounts to 21.3 million. The company said it now expects to add 70 million active accounts in the latter half of the year.

“The big competition for

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CEOs of Amazon, Apple, Facebook and Google face congressional antitrust grilling

The chiefs of four of the biggest tech companies in the world — Amazon, Apple, Facebook and Google — will face lawmakers Wednesday for a hearing on digital competition that could have cataclysmic impacts on an industry largely unhindered by regulators.

The grilling of tech titans Jeff Bezos, Tim Cook, Mark Zuckerberg and Sundar Pichai (the companies’ respective CEOs), will be done by the House Judiciary Antitrust Subcommittee as part of its ongoing, year-long investigation into competition in the digital market.

Here is the latest on how the news is developing today. All times Eastern. Check back for updates.

Rep. Mary Scanlon says, when the pandemic hit, “Amazon said it was going to delay shipment of nonessential products.” She accused the e-commerce giant of applying that policy selectively and asked why “Amazon devices like Fire TV, Echo speakers and Ring doorbells” were deemed essential during the pandemic.

“There was no … Read More

Tech CEOs go on defense

Four of the nation’s most powerful CEOs beamed into a Capitol Hill hearing Wednesday and raised their hands to swear to tell the truth as they faced a barrage of questions on one major issue: Are their companies too big and powerful for America’s good?

Lawmakers hammered Google Sundar Pichai about his company’s relations with China and whether it steals ideas from other businesses, Facebook chief executive Mark Zuckerberg about a blizzard of disinformation plaguing his social network, and Apple CEO Tim Cook on whether his iPhone-maker strong-arms developers on its App Store.

Perhaps surprisingly, Amazon CEO Jeff Bezos — making his long-awaited first-ever appearance before a congressional hearing — had faced no question nearly two hours into the session.

The virtual testimony, in a hearing of the House Judiciary Committee’s antitrust subcommittee, comes at a time of rising legal jeopardy for the major tech companies, who are the subject

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Here’s What’s Still Open for Business in Hollywood

Editor’s note: The list is constantly updated. Dates refer to when announcements were made, or when an event is scheduled to happen.

You’ve probably seen our other COVID-19 list, the one where we are examining every cancellation that has taken place as the pandemic takes hold in our community. This is the counterpoint to that “Houston, we have a problem” list; this is the one where we’ll talk about how the show must go on, how the Force will be with us, and, maybe most importantly, how we’ll be back.

IndieWire will continue to update this page with the latest breaking news regarding virtual events, work logistics, TV premieres, and general acts of bravery and kindness. This is the place where we’ll be documenting our return to normalcy — and make no mistake, we’ll get through this. The most recent updates will be posted at the top of the running … Read More

What You Can Do to Your Prep Your Business for a Second Wave of Coronavirus

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It’s not over yet.

In March, retailers were forced to temporarily shutter their doors due to COVID-19. Five months later, companies are continuing to deal with the fallout from the virus — and as cases continue to ramp up, more store closures may be on the horizon in some states.

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In fact, California made the decision to pull back on its reopening plan earlier this month, requiring shops located in indoor shopping centers to once again shut their doors. And tech behemoth Apple temporarily shut more than 30 stores across five Southern states in response to spiking cases.

With a “second wave” of COVID-19 forecasted to occur as temperatures cool in the fall, retailers across the country could once again find themselves having to close up shop. Moreover, a second wave could cause a dent in consumer confidence, causing

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11 Basic Money Moves Everyone Should Make During Hard Times

The coronavirus pandemic has taken a major hit on the economy and the personal finances of workers across the country. On June 6, the Bureau of Labor Statistics reported that 11.1% Americans are currently unemployed, although experts say that number could be higher. Of those who have yet to lose their jobs, many have been taking pay cuts or are losing hours as business owners struggle to stay afloat.

Whether you’ve lost your job, are experiencing reduced hours or are among the fortunate Americans who are still employed, here are the money moves experts say everyone should be making right now.

Last updated: July 28, 2020

Review Your Budget

It’s important to revisit your budget so you know exactly how much money you have coming in and how much you will need to cover essentials.

“A budget is key to feeling financially secure right now and determining if you can

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SMCP’s Daniel Lalonde Draws Up New Plans for Business

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PARIS — Who’s hankering for a return to normal? Not Daniel Lalonde. The chief executive officer of SMCP, the group behind accessible luxury labels Sandro, Maje, Claudie Pierlot and De Fursac, is not looking back — the world has changed. He’s developing a business plan for the new order.

The group reported a 45.8 percent decline in second quarter sales to 265.7 million euros, reflecting the steep impact of coronavirus shutdowns and slow path to recovery, with the sharpest declines coming from the Americas. Across France, its biggest market, and the rest of Europe and the Middle East region, sales were down 46 percent and 54.9 percent, respectively. The Asia Pacific region clocked the best performance, down 19.5 percent, with the company flagging that growth returned to China in June.

“My objective is not to return to the performance and levels of 2018

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Many Companies Won’t Survive the Pandemic. Amazon Will Emerge Stronger Than Ever

The pandemic has upended businesses across the world, but it has been very good for Amazon. Every lockdown “click to purchase” nudged the company a little further toward utter domination of online shopping as total e-commerce sales nearly doubled in May. But if bigger was better for everyone, Amazon founder and CEO Jeff Bezos would not be appearing before Congress on Wednesday for an antitrust hearing.

Charlene Anderson, and sellers like her, are one reason why he’ll be there. Anderson is among the many merchants who sell goods on Amazon — and who together account for more than half of sales on the site. But they pay, too: Amazon charges Anderson a $39.99 monthly fee to post her knitting and craft supplies on its site, and it takes a cut of about 30 percent on each item she sells. Anderson’s seller experience has worsened during the pandemic as Amazon exercised

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Discovery Sets Business Format With New Model From Shopify Studios & Wheelhouse’s Spoke Studios

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EXCLUSIVE: Discovery Channel is launching new business format I Quit, with a slew of entrepreneurs risking it by giving up their jobs to follow their passions.

However, the business model behind the show, which launches Tuesday August 18, may be the real point of interest for producers.

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The show comes from Shopify Studios, the television production and financing arm of the global online commerce service, and Wheelhouse Entertainment’s Spoke Studios. It was financed and produced by these companies before being picked up by the factual broadcaster, which unusually has just taken U.S. rights rather than full global rights to the format.

I Quit follows six sets of hopeful entrepreneurs as they leave their steady incomes and retirement plans behind, going all in on their dreams of launching their own businesses. Along the way, they will be mentored by

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