New SEC Filing Confirms Staples Will Split into Three Independently-Run Businesses
On Thursday, new regulatory documents filed with the US Securities and Exchange Commission (SEC) confirmed that Staples, Inc. (NASDAQ:$SPLS) will be splitting into three independently-run businesses after private equity firm Sycamore Partners acquires it. The ... [Read]
Amazon Has Teamed Up With Tencent In $300 Million Smartphone Investment
Summary: Andy Rubin’s new smartphone company has garnered enough attention from Tencent and Amazon for a combined $300 million investment from the two companies. The company, Essential, has not launched its first phone yet, but ... [Read]
Office Depot Dropped in Net Profit and Revenue in Q2
And the bad news continues for the retail sector. On August 9, Office Depot Inc. (NASDAQ:$ODP) announced that Q2 net profit dropped to $24 million (5 cents a share) from $210 million (38 cents a ... [Read]
Amazon’s New Refund Policy Has Stressful Effects On Third-Party Retailers
Summary: An email was sent by Amazon to its sellers this week, announcing an updated refund policy. The email details that merchants who ship products on their own are also now subject to the same ... [Read]
J.C. Penney Just Entered into Partnership with Project Runway
What a day for the retail sector! On Monday, July 31, J.C. Penney (NYSE:$JCP) announced that it has entered into partnership with Project Runway. With this new partnership, the TV show can be turned into ... [Read]
The Walmart Foundation Announces New Grants for Non-Profit Organizations Focused on Food Waste Reduction
On Monday, July 31, the Walmart Foundation announced that it will be making $1.87 million CAD, or $1.5 million USD, available to fund proposals from eligible non-profit organizations that are working towards the goal of ... [Read]
Wal-Mart Announces Changes to its Food Leadership Team
On July 31, Wal-Mart Stores (NYSE:$WMT) announced to the public that it will be making changes to its food leadership team as it prepares for an increase in competition with grocery rivals and remains in ... [Read]
Walmart Workers in Chile Just Voted to Go on Strike
On Friday, July 28, Walmart Stores Inc. (NYSE:$WMT) workers in Chile voted to go on strike in order to petition for higher wages, according to Reuters. The workers who voted to go on strike are ... [Read]
Amazon CEO Jeff Bezos Just Stole Bill Gate’s Title of the “Richest Man in the World’
We all know Amazon CEO Jeff Bezos is wealthy. However, until now, the question that investors were asking was: what is the exact size of his fortune? Well, now we know that Jeff Bezos has ... [Read]
Amazon Launched the Prime Now Service in Singapore Today
It’s been quite the day for the retail sector. On July 27, Amazon (NASDAQ:$AMZN) launched its express, same-day delivery service in Singapore. The service is called Prime Now, and it marks the company’s first foray ... [Read]