Cost-saving measures include layoffs of 70 employees (15% of total workforce), evenly split between online drugstore's San Francisco headquarters and Memphis distribution center, as well as reductions in ad spending. PlanetRx.com, which now has approximately 380 employees, plans no further staff cuts. The e-tailer says it is moving toward meeting its goal of total cash expenditure reduction of 8%-12%, announced at the end of the first quarter. Second quarter revenues are expected to total $9 mil., less than previous projections. Also, Chief Technology Officer James Chong has resigned and will not be replaced. PlanetRx has retained Goldman, Sachs to review strategic options
Join thousands of industry professionals who rely on HBW Insight for daily insights
Already a subscriber?
The US FTC’s contention that ‘notice and choice’ has failed as the cornerstone of consumer privacy regulation and must be abandoned in favor of data minimization and other more stringent measures does not adequately account for the complexity of business practices and consumer behavior, FTC commissioner Melissa Holyoak asserted at the NAD’s 2024 Annual Conference.
FTC Commissioner Melissa Holyoak says the agency has acted outside the bounds afforded by Congress, citing several areas within consumer protection, including a recent update to the final rule for the Health Breach Notification Rule and the commission’s use of notices of penalty offense to serve as the basis for Section 5 settlements.
At one year, TikTok Shop conjures the early days of Amazon, representing the ‘Wild West’ of beauty ecommerce, said co-founders of private label and contract manufacturing company KO-Pack at the IBA Cosmetics Convergence Fall 2024 Virtual Symposium, “The Promise and Pitfalls of TikTok Shop.”
Editor’s note: This is your final call to participate in the survey to better understand our subscribers’ content and delivery needs. The deadline is 20 September.
Nature’s Bounty, Osteo Bi-Flex and Puritan’s Pride are among the dietary supplement brands under strategic review by Nestle as the firm shifts its focus to the premium end of the market.
New York-based Interparfums has signed a deal with Parisian firm Longchamp – known for its leather goods – for the creation and distribution of fragrance lines.
What's going on with the EU Green Claims Directive? HBW Insight speaks to the European Commission, Parliament and Council to find out why trilogue negotiations seem to have stalled.
