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Posts Tagged ‘retail’

Walmart announces it will fully integrate Jet’s teams, but Jet will remain a standalone brand

Three years after acquiring Jet for $3 billion, Walmart announced today that it is now more fully integrating Jet’s teams into Walmart. Jet will continue to operate as a standalone brand, mainly in large cities. Jet president Simon Belsham will support the transition through early August. After that, Jet will be managed by Kiernan Shanahan, ...

Amazon’s new rewards card targets those with bad credit

Amazon this morning announced the launch of Amazon Credit Builder, a new secured credit card offered in partnership with Synchrony Bank. As the name implies, the card is aimed at those who are looking to build their credit history — either to recover from bad credit or to establish new credit. Like other credit products ...

Sam’s Club is upgrading tire shopping with a time-saving app

Alongside today’s news that Walmart will soon introduce in-home grocery delivery in select markets, the company today announced another new effort similarly aimed at saving customers’ time. But this time, the focus was on Sam’s Club members, and specifically addressed the long process involved with buying car tires. To address that challenge, the company is ...

Amazon says over 10 million items are now available for one-day shipping

Amazon on its latest earnings call announced it was working towards making one-day shipping the new standard for Prime members. This morning, the retailer touted a milestone related to those efforts with news that now over 10 million items are now available for one-day shipping to Prime members. The news was largely a shot at ...

DHL brings Africa eShop to 20 countries in a competitive nod to Jumia

DHL is expanding its DHL Africa eShop business to 9 additional markets, upping the presence of the global shipping company’s e-commerce platform to 20 African countries. DHL went live with the digital retail app in April, bringing more than 200 U.S. and U.K. sellers — from Neiman Marcus to Carters — online to African consumers. ...

Stein Mart embraces the enemy with installation of Amazon Lockers in nearly 200 stores

Another brick-and-mortar retailer is turning to Amazon to help save its struggling business. Today, discount chain operator Stein Mart announced it will install Amazon Hub lockers in nearly 200 stores as soon as next month. The lockers are self-serve kiosks that allow Amazon shoppers to take advantage of in-store pickup and returns. The deal will ...

IDC: Asia-Pacific spending on AI systems will reach $5.5 billion this year, up 80 percent from 2018

Spending on artificial intelligence systems in the Asia-Pacific region is expected to reach $5.5 billion this year, an almost 80 percent increase over 2018, driven by businesses in China and the retail industry, according to IDC. In a new report, the research firm also said it expects AI spending to climb at a compound annual ...

Ikea invests in Livspace, a one-stop platform for interior design based in India

Fresh from raising $70 million last year via big names including Goldman Sachs and TPG Growth, Livspace, an India-based startup that offers a one-stop-shop for interior design, has lured yet another marquee investor: Ikea. The startup said today it has taken an undisclosed investment from Ingka Investments, the VC arm of Ikea parent Ingka Group, which ...

Walmart beats on earnings in Q1, with U.S. e-commerce up by 37 percent

Walmart’s investments in e-commerce are paying off. The retailer today announced its U.S. e-commerce sales grew by 37 percent in the first quarter, largely thanks to its booming online grocery business and growth in both the home and fashion categories on Walmart.com. The company also beat analyst estimates for the quarter, with earnings per share ...

Alibaba invests about $635M in Red Star Macalline, one of China’s largest furniture sellers

Alibaba Group has acquired about RMB 4.36 billion ($635 million) worth of convertible bonds in Red Star Macalline, one of China’s biggest furniture retailers. If converted, this would give Alibaba about a 10 percent stake in the company. It also purchased 3.7 percent of Red Star Macalline’s publicly traded shares on the Hong Kong stock ...