Gap’s Pandemic Pain Worse Than Expected
The troubled retailer said its online growth "leaves us well-positioned to fuel our brands going forward" but its shares sank 5.5%.
FedEx CFO Alan Graf to Retire After 22 Years
Treasurer Mike Lenz will replace Graf as FedEx faces the challenge of adapting to increased ecommerce deliveries.
Albertsons Files for IPO, Shows Sales Growth
“We are proud of the progress we have made over the past few years, and believe we have a long runway for growth ahead of us."
Black Friday Online Sales Reach Record $7.4B
Consumers made $2.9 billion in purchases from their smartphones, a record for mobile sales.
EBay CFO Schenkel Steps in After CEO Resigns
“In the past few weeks it became clear that I was not on the same page as my new board,” CEO Devin Wenig tweets.
Shopify Buys 6 River to Boost Robotics Business
The e-commerce platform believes 6 River's Chuck robots will increase the speed and reliability of its AI-powered fulfillment network.
Lego Posts 6% Sales Gain, Plans More Stores
The toy maker is investing in its retail and digital businesses to "create a strong foundation from which to grow in the long term."
Etsy Buying Musical Instrument Marketplace Reverb
The online marketplace is paying $275 million in cash for the music seller, which will continue as a standalone company.
Alibaba Boosts Stake in Chinese Bank to 4.8%
The e-commerce giant joins rival Tencent in becoming a major CICC shareholder as both firms eye opportunities in fintech.
Amazon Looms Over Albertsons-Rite Aid Deal
The grocery store operator and the drugstore chain are combining to create a retailer with 4,350 pharmacy counters and $83 billion in annual revenue.
Barnes & Noble Same-Store Sales Slide 4.4%
The bookseller's Q1 loss narrowed to $10.8 million but it continues to struggle amid Amazon's dominance of the book industry.