Amazon to Shut Down Quidsi’s Shopping Sites
Diapers.com and five other sites will close, underscoring "a shift in Amazon's focus to groceries and other areas” since it acquired Quidsi in 2010.
Amazon Buys Souq in Middle East Expansion
The reported $650 million deal gives Amazon a foothold in a market where only around 2% of retail transactions currently take place online.
Nike Sales Just Didn’t Do It in Third Quarter
Revenue missed analysts' estimates but CEO Mark Parker believes the shift to online shopping "represents a tremendous opportunity for Nike."
Sears Says Turnaround Effort May Be in Doubt
The retailer warns its history of losses indicates "substantial doubt exists related to the company's ability to continue as a going concern.”
Neiman Marcus Said to Be in Talks Over Sale
Canada's Hudson's Bay Company is reportedly interested in buying the iconic retailer, which has been struggling with the shift to online shopping.
Target Plans Price Cuts as Sales Slump Again
The retailer's shift to a new business model "will present headwinds to our sales and profit performance in the short term."
JC Penney Closing 140 Stores in Early 2017
The U.S. retail chain plans to close as many as 140 brick-and-mortar locations after announcing disappointing results over the holiday season.
Toys “R” Us Lays Off 250 Corporate Employees
The iconic toy store eliminated close to 15% of corporate employee positions, or an estimated 250 jobs.
Amazon Shares Dip 3% on Revenue Miss
Fourth-quarter net sales of $3.54 billion fell short of analysts' estimates but net income rose 55% to $749 million.
U.S. Retail Sales End Year With 0.6% Increase
Sales picked up momentum after a slow start to the holiday season, bringing the gain for all of 2016 to 3.3%.
Coty to Buy Online Seller Younique for $600M
The deal opens up a new beauty products distribution channel for Coty as it seeks to reduce its dependence on fragrances.