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Posts Tagged ‘retail’

Here are four areas the $311 billion CPPIB investment fund thinks will be impacted by COVID-19

The Canadian Pension Plan Investment Board, an asset manager controlling around $311 billion in assets for the Canada’s pensioners and retirees, has identified four key industries that are set to experience massive changes as a result of the global economic response to the COVID-19 pandemic. The firm expects the massive changes in e-commerce, healthcare, logistics, ...

Target sets sales record in Q2 as same-day services grow 273%

Following Walmart’s pandemic-fueled earnings beat posted on Tuesday, Target today also handily beat Wall St. expectations to deliver a record-setting quarter across a number of key metrics. The retailer on Wednesday announced its strongest quarter to date for comparable sales, which grew 24.3% in Q2, driving Target’s profit up 80.3% year-over-year to $1.69 billion. Online ...

Canalys: Google is top cloud infrastructure provider for online retailers

While Google Cloud Platform has shown some momentum in the last year, it remains a distant third behind Amazon and Microsoft in the cloud infrastructure market. But Google got some good news from Canalys today when the firm reported that GCP is the number one cloud platform provider for retailers. Canalys didn’t provide specific numbers, ...

LA’s consumer goods rental service, Joymode, sells to the NYC retail investment firm, XRC Labs

After raising $15 million in financing from one of technology’s most successful global investment firms, the Los Angeles-based consumer goods rental company Joymode is selling itself to an early-stage retail investment firm out of New York, XRC Labs. Joymode’s founder Joe Fernandez will continue on as an advisor to Joymode as the company moves to ...

Jewelry store buried $1 million in treasure for others to find

While closed due to the pandemic, the owners of J&M Jewelers in Macomb County, Michigan came up with a new way to make money. They buried $1 million in jewelry, coins, antiques, and gold and silver bars across the state and anyone can pay to sign up for their monthly "Treasure Quests." The first few ...

Every item scanned as “Mr Potato Head” in glitch at department stores

Yesterday, five large department stores in the towns of Lindsay and Whitby, Ontario, Canada had to temporarily stop ringing up customers because every item scanned at the register showed up as Mr. Potato Head.

"A point of sale downloading error caused item names to appear incorrectly," said Cathy Kurzbock, manager of external communications for department ...

Apple now says its retail stores are closed ‘until further notice’

Apple appears to be expecting a longer disruption to shopping at its physical retail stores as a result of the public health crisis posed by the COVID-19 pandemic. Earlier this week, in a press release, the iPhone maker said it would be closing retail stores outside China until March 27. A note on its website ...

Los Angeles-based ‘deep tech’ investment firm Riot Ventures is raising a $75M fund

Riot Ventures, the Los Angeles-based, early-stage and deep technology investment firm is going out to market to raise a $75 million second fund to finance the development of startups in LA and beyond, according to fundraising documents viewed by TechCrunch. The firm has largely flown under the radar, but it has been investing in startups ...

Walmart shuts down its experimental personal shopping service, Jet black

Walmart is shutting down its personal shopping service, Jet black, on February 21, after struggling to find adoption or additional investment. The service had allowed New York-area customers to text message orders for home delivery. According to its website, Jet black will now no longer accept new orders and will refund its customers their most ...

7-Eleven is the next retailer to test cashierless stores

7-Eleven is the latest retailer to test the “cashierless” store concept, following Amazon’s big push into the market with its Amazon Go convenience stores that use technology, instead of people, to monitor stock levels, track purchases, and process payments. This week, 7-Eleven announced it’s piloting its own take on the cashierless concept with a 700-square-foot ...