Retail Roundup—Macy's invests in startup; May retail sales up 6%

Macy's storefront facing a shopping mall
Macy's is now part owner of retail startup b8ta. (Mike Mozart/CC BY 2.0)

Macy's invests in tech startup

Macy's has acquired a stake in b8ta, a retail startup that features innovations such as digital displays. Likely most relevant to the department store, b8ta recently launched a new solution that helps build new stores for retailers, including Macy's pop-up shop program. (Business Insider)

Use of Apple Pay down 13 percentage points

Apple Pay use by retailers is down from 48% to 35% in 2018, the most drastic decline of all mobile wallets. Google Pay also saw a drop in mobile payment, down from 38% to 25% in the past year. (PR Newswire)

May retail sales up almost 6%

May retail sales increased 5.6% over the same month last year and almost 1% over April. The National Retail Federation says that unemployment at an all-time low, combined with tax cuts, are contributing to a strong economy. (National Retail Federation)

Gap names new CEO

Gap has named Neil Fiske as president and CEO of its namesake brand as the retailer tries to increase poor sales. Fiske most recently served as CEO at Billabong, and before that, Eddie Bauer and Bath and Body Works. (Los Angeles Times)

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