Walmart expands grocery delivery through partnership with four companies

Walmart Inc. WMT, +0.76% has partnered with Point Pickup, Skipcart, AxleHire and Roadie to expand its grocery delivery service to metropolitan areas in four states: South Carolina, Ohio, Florida and Alabama. Grocery delivery is available in 800 stores currently and 800 more will be added this year. Customers can use the service on orders of $30 or more, with free […]

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101 Million Americans Subscribe to Amazon Prime

Amazon.com Inc. (NASDAQ: AMZN) reached another milestone in the fourth quarter of 2018. The e-commerce giant’s Amazon Prime membership count reached an estimated 101 million, according to data released Thursday by Consumer Intelligence Research Partners (CIRP). About 62% of Amazon customers are now Prime members. In Amazon’s annual letter to shareholders in April of last year, CEO Jeff Bezos said […]

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Gymboree files for bankruptcy protection for the second time in two years: reports

Children’s clothing retailer Gymboree Group Inc. said late Wednesday that it has filed for Chapter 11 bankruptcy protection and will shut its Gymboree and Crazy-8 stores, The Wall Street Journal reported. The company said it has also entered a purchase agreement with Special Situations Investing Group, an affiliate of Goldman Sachs Group Inc. GS, +9.54% that will provide the initial […]

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Signet unit to pay $11 million to CFPB, New York over allegations of opening accounts without consent

Signet Jewelers SIG, -0.09% division Sterling Jewelers has agreed to pay $10 million to the Consumer Financial Protection Bureau and $1 million to the state of New York to settle claims it’s opened store credit-card accounts with customer consent. According to the settlement, Sterling also enrolled customers in payment-protection insurance without their consent and misrepresented to consumers the financing terms […]

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Sears Survives: Here Are Its 8 Largest Competitors

An eleventh-hour bid of around $5.2 billion from Eddie Lampert, the company’s former CEO, rescued Sears Holdings from a liquidation sale in the venerable retailer’s bankruptcy case. The bid must still be approved by the bankruptcy court, and not all the company’s creditors are satisfied with anything other than liquidation. Since the end of 2017, Sears has reduced its store […]

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Albertsons sales boosted by fuel

Privately held grocery company Albertsons Cos. said third-quarter sales increased, driven by higher fuel sales. The food and drug retailer, which owns Safeway and other chains, said sales and other revenue rose 1.8% to $13.8 billion from $13.6 billion in the year-ago period. The increase was driven by the 1.9% increase in identical sales and higher fuel sales of $91.7 […]

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Shares of airport retailer Hudson slide 7% premarket after sales guidance falls short

Airport retailer Hudson Ltd.’s shares HUD, +4.81% slid 7.2% in premarket trade Monday, after the company offered guidance for the fourth quarter and full year that lagged consensus estimates. Hudson said it expects fourth-quarter sales to rise 4.5% to $459.8 million, below the FactSet consensus of $473 million. For the full year, it expects sales rose 6.9% to $1.882 billion, […]

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Debenhams shares slide as chairman ousted

–Shares in embattled retailer Debenhams fell further Friday after a disappointing sales update and subsequent shareholder revolt on Thursday ousted the company’s chairman and removed the CEO from its board –The boardroom coup was led by Sports Direct CEO Mike Ashley and Dubai’s Landmark Group –Debenhams has been struggling to refinance its debt and sell assets, while also reshaping its […]

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