Finance & Capital Management

Seattle -- Amazon continues to expand its already formidable fulfillment center.

The online giant plans to open a nearly 500,000-sq.-ft. center in Joliet, Illinois. The site, which will create 1,000 full-time jobs when it opens, is the company’s first in the state.

As retailers feel pressured to raise wages for employees, GameStop is focusing on education by giving staffers an incentive to hit the books.

The rise of e-commerce has made life increasingly difficult for shopkeepers of every size and shape. The continuing shift to online shopping, and the failure of many retailers to adapt, has pushed many retail chains into bankruptcy. Radio Shack, Wet Seal and Deb Shops are just a few once-popular merchants that have declared Chapter 11 in recent years.

New York -- Alibaba Group Holding Ltd. has entered into its biggest deal ever — and this one is in the brick-and-mortar arena.
 
The Internet giant has invested approximately $4.63 billion in Chinese consumer electronics retailer Suning, which operates more than 1,600 stores across 289 cities in China. The investment gives Alibaba a 19.9% stake, making it the second largest shareholder in the company.

In return, Suning will invest up to $2.28 billion to subscribe to new shares of Alibaba.

Swedish furniture giant IKEA is always coming up with inventive and innovative products to appeal to its core shoppers, but this time the retailer is marking a first in the industry.

IKEA announced it will become the first major global retailer to offer a 100% LED light bulb assortment. In a bid to make its products more sustainable, the retailer will switch all of its available bulbs to LED bulbs by the end of September.

Seattle – Online jewelry retailer Blue Nile Inc. had profit and sales results in the second quarter of fiscal 2015 that crested beyond Wall Street expectations. Net income rose 4% to $2.3 million from $2.2 million the same quarter a year earlier.

An increase in interest and other income, as well as cost of sales growth that did not match the growth pace of sales, drove the increase in net income. Net sales rose 7% to $113.69 million from $106.57 million.

Phoenix — Sprouts Farmers Market has a new CEO.

The company announced a leadership succession plan, effective Aug. 6, whereby CFO Amin Mereda has been appointed CEO. Doug Sanders, currently president and CEO, ascends to the role of  executive chairman.

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Enactus USA, the organization formerly known as Students In Free Enterprise or SIFE, is looking to earn a $500,000 grant from Microsoft in the company’s #UpgradeYourWorld campaign which runs through August 23.