"Daily Round-up: Office depot profits plummet, Calvin Klein opens first multi-brand store, RTR opens its largest store, and more...

1. Office depot profits plummet

‍Office Depot on Wednesday said that first quarter total reported sales fell 2% year over year to $2.8 billion. Retail division operating income fell to $67 million from $72 million a year ago, as store comps declined 4%, according to a company press release. During the quarter Office Depot closed two stores, ending with 1,359 in the retail division.

2. Calvin Klein’s first multi-brand store

‍Calvin Klein’s first multi-brand store in Australia opened over the Easter long weekend in Queensland. The store, spanning over 310sqm, brings together the brand’s entire collection and offers a full range of men’s and women’s underwear, jeans, performance, accessories, as well as kid’s underwear. The store is Calvin Klein’s 32nd in Australia and reflects the brand’s minimal, modern aesthetic.

3. Rent the Runway opens its largest store

‍Rent the Runway (RTR) is opening of its largest store in San Francisco’s Union Square neighborhood. The 8,300-sq.-ft. store is the fashion rental giant’s fifth and largest location to date, with more than 20 fitting rooms, a greatly expanded merchandise assortment and added perks such as stylists, a coffee cart, an event and networking space, a beauty bar and desk space for co-working. Similar to its other physical locations, it uses proprietary technology to deliver a seamless experience, allowing customers to return rented items within seconds, checkout with their RTR pass on their phone and even pick up orders without having to wait in line.

4. Ramadan opportunity for eCommerce

‍According to an analysis by advertising platform Criteo, online sales in Malaysia and Indonesia are set to boom in the lead up to – and during – Ramadan. “Ramadan represents a notable cultural shift in consumer behavior, with the Middle East and Southeast Asia being key regions,” said Criteo SEA-Pacific MD Alban Villani. “Moreover, the global Islamic economy is also growing year-on-year, estimated to reach US$3 trillion by 2023.

5. L’Oreal extends personalization push

‍L’Oreal is launching a DTC brand through its incubator. Dubbed Color&Co, it provides shoppers personalized product recommendations through a free video consultation with a certified colorist or an online quiz. After discussing hair type, texture, coloring history and goals with the stylist on a desktop or mobile device, customers can order their customized formula for delivery on a one-time or subscription basis. The ""Colorboxes"" start at $19.90 for one-time orders, while the quiz and video consultation are free."