Online lottery ticket company Jackpot announced Wednesday that it closed on $35 million in series A funding, led by some of the biggest names in sports who see the promising growth potential in digital lottery sales. The cash infusion could enable Jackpot to start rolling out its website and app later this year in select … Read more
Amazon Prime Day is one of the most anticipated shopping events of the year. But in 2022, shoppers may be less interested in backyard entertaining or Black Friday-type deals and more eager to score discounts on consumer staples to counteract runaway inflation. “People who want to participate in Prime Day are going to be focusing … Read more
Burn Rate: Launching a Startup and Losing Your Mind Andy Dunn’s start-up, Bonobos, was being courted for an acquisition by retail giant Walmart. It was a thrilling process, but the co-founder and former CEO of the online menswear brand knew it was time to disclose his secret: He had bipolar disorder. In his new book, … Read more
Shoppers enter a Kohl’s store in Peoria, Illinois. Daniel Acker | Bloomberg | Getty Images A little-known conglomerate of companies including The Vitamin Shoppe, Pet Supplies Plus and a home furnishing chain called Buddy’s is suddenly the talk of the retail industry. Franchise Group, a publicly traded business with a market capitalization of about $1.6 … Read more
Target warned investors Tuesday that its profits will take a short-term hit, as it marks down unwanted items, cancels orders and takes aggressive steps to get rid of extra inventory. The retailer slashed its profit margin expectations for the fiscal second quarter to account for a wave of goods winding up deeply discounted or on … Read more
Doug McMillon, president and CEO of Walmart Inc. Corporation, participates in a Business Roundtable discussion on the”Future of Work in an Era of Automation and Artificial Intelligence”, during a CEO Innovation Summit, on December 6, 2018 in Washington, DC. Mark Wilson | Getty Images FAYETTEVILLE, Ark. — Thousands of Walmart employees gathered at a huge … Read more
Dave Clark, Amazon’s senior vice president of worldwide operations. Lindsey Wasson | Reuters Dave Clark, CEO of Amazon’s worldwide consumer business and a top lieutenant of CEO Andy Jassy, will resign July 1 after 23 years at the company, Amazon announced in a regulatory filing Friday. Amazon did not name a replacement for Clark. In … Read more
Walmart is building four high-tech fulfillment centers that will simplify and speed up the picking and packing of online orders. The first one will open this summer in Joliet, Illinois. walmart Walmart is building warehouses with a high-tech spin in hopes of delivering items to customers more quickly and growing its online business. The retailer … Read more
Pedestrians seen walking past Canadian athletic apparel retailer Lululemon in Shanghai. Alex Tai | SOPA Pictures | LightRocket | Getty Images Lululemon customers so far aren’t balking at higher prices on the retailer’s leggings and sports bras, Chief Executive Officer Calvin McDonald said Thursday. The athletic apparel maker reported fiscal-first quarter profit and revenue that … Read more
BENTONVILLE, Arkansas — Walmart’s cavernous stores are known for aisles of low-priced groceries, paper towels and apparel. Now, those big boxes are hubs for its e-commerce business, serving as launch pads for delivery drones, automated warehouses for online grocery orders and departure locations for direct-to-fridge drop-offs. Eventually, they will help pack and ship goods for … Read more