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Burning Man co-founder Larry Harvey passed away on Saturday, according to festival CEO Marian Goodell. He was 70 years old.Goodell made the announcement through a blog post on Burning Man's website. She says that Harvey suffered a massive stroke on April 4. He passed away peacefully on April 28 in San Francisco with family members at his side."Burning Man culture has lost a great leader and an inspiring mind," Goodell wrote in the blog post. "The loss of his presence in our daily lives will be felt for years, but because of the spirit of who he is, we will never truly be without him."The annual celebration of "radical self-expression" and "radical self-reliance" brings hundreds of thousands of people to the Black Rock Desert in Nevada. It first started in 1986 when Harvey and his friend Jerry James built a wooden figure on a San Francisco Beach and burned it down to honor the Summer Solstice. 913

Certain grocery stores are opening DSW, Designer Shoe Warehouse, shop-in-shops.Hy-Vee announced the partnership this week, saying two of their locations in the Twin Cities area have DSW displays inside with four more locations scheduled to open in the next few weeks.The DSW shop-in-shops will allow customers to try on shoes, selecting from a variety of styles and brands. Some stores will have lockers, allowing customers to order shoes online and pick them up in Hy-Vee stores.The shop-in-shop set-ups feature a wall of 100 shoes displaying top trends of the season. Customers can order by scanning a code on the shoes, and having them delivered to their home or store.“By combining in-store and online shopping experiences together with DSW, we are able to meet the unique needs of every shopper and make the shopping experience — whether in-store, online or both, seamless,” said Randy Edeker, Hy-Vee’s chairman, president and CEO.DSW told CNN they plan on having more than 2,000 shoes in each Hy-Vee location.Hy-Vee has more than 270 stores across eight states, and says they plan to open more DSW shop-in-shops in each state they have stores. 1157

CHARLOTTE, N.C. (AP) — JPMorgan Chase says it will extend billions in loans to Black and Latino homebuyers and small business owners in an expanded effort toward fixing what the bank calls “systemic racism” in the country’s economic system. The bank said it is committing billion over the next five years toward programs that include earmarking more money for getting Black and Latino families into homeownership and providing additional financing to build affordable rental housing units. The bank said it expects the billion to help finance 40,000 additional mortgages for Black and Latino households, another 20,000 loans that will refinance mortgages and help construct 100,000 affordable rental units. 722

CBP officers later extracted approximately 3,014 pounds of methamphetamine, 64 pounds of heroin, 29 pounds of fentanyl powder, and almost 37 pounds of fentanyl pills, worth an estimated .2 million. 207

Casper has mastered how to sell mattresses in a box online. Now the company will test its strength at the store.CEO Philip Krim said Casper will open 200 stores across the country in the next three years. The Wall Street Journal first reported the company's plans."It will give us a footprint to help educate consumers," he said in an interview.The announcement is a clear signal that Casper, an online startup that launched in 2014, believes a physical presence is still a crucial part of retail.Casper has recently rolled out 19 pop-up stores in markets like New York and San Francisco, and Krim said they are beating expectations, convincing the company to expand deeper."The presence of physical stores increases both offline as well as online sales," said Barbara Kahn, a marketing professor at Wharton.A permanent store footing will help Casper build loyalty with current customers, gain exposure among new shoppers, and increase impulse buys that can only come from browsing physical locations, she said.In addition, people usually want to try out mattresses and bedding before they make a final purchase, and stores will give Casper another way to appeal to them.The plan marks a new front for Casper, which broke into an industry controlled by brick-and-mortar retailers like Mattress Firm and Sleepy's.Casper distinguished itself by pricing the only mattress it sold at the time below its competitors, as well as offering free delivery and a 100-day trial period at home."Consumers have long gone into traditional mattress stores feeling uninformed and have been subject to ridiculous price points," said Bob Phibbs, CEO of the consultancy Retail Doctor.Casper offers just three varieties of mattresses, which gives it an advantage over rival mattress stores that offer a confusing array of soft, firm, foam, springy, and everything in between, Phibbs noted.Casper gained attention online with customers posting videos of themselves unboxing mattresses on social media, racking up 0 million in sales during its first full year.As it continued selling direct-to-consumer online, moving into bed frames, sheets, pillows, and dog mattresses, Casper partnered with retailers like Nordstrom, Target, and West Elm to increase distribution.Stores will help Casper stand out in a crowded mattress environment. Digital rivals such as Purple, Leesa, Tuft & Needle, and Yogabed have cropped up, while legacy retailers have taken a page from Casper, introducing delivery in a box."By opening stores, they are upping the ante to compete, and less well-funded competitors may be at a disadvantage," said Kahn.Amazon has also become a huge mattress player, increasing its sales in 2017 by 82% from the prior year, estimated research firm One Click Retail. Casper is only one of dozens of mattress brands Amazon sells.As Casper moves into brick-and-mortar territory, Mattress Firm is retrenching. Mattress Firm has closed 200 stores in 2018, according to Coresight Research, a retail think tank.Reuters reported this week that it was weighing a bankruptcy filing to close some of its 3,000 stores that were losing money.The company declined comment through a spokesperson.Casper is playing a different game than Mattress Firm, though.Online retailers like Casper and Warby Parker want stores to help it achieve scale advantages, while legacy retailers are trying to escape malls and invest in delivery and supply chains to survive online, said Jefferies analyst Randal Konik. 3489

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