Strategy

Deal volume in the retail and consumer sector is up, but deal value is down.   Deal volume in the second quarter in the sector reached its highest level in the past 12 months, with 282 announced deals, up 5% over the first quarter, according PwC’s Q2 2016 retail and consumer M&A report.  

Amazon has launched an online shop dedicated to innovative products from start-up companies.   Amazon has teamed up with popular crowdfunding site Kickstarter to showcase a collection of products that have been successfully funded on the platform. The Kickstarter Collection is featured on Amazon’s Launchpad section, the company’s storefront for hardware startups and crowdfunded projects. The new collection has more than 300 products, and covers a wide range of categories, from electronics and toys to home and kitchen.

Rent-to-own giant Aaron’s saw its revenues rise but profit drop in the second quarter, and the retailer said it would review its store base going forward.     

Two weeks after its second annual Prime Day surpassed expectations, Amazon’s winning streak continued as it posted its fifth straight quarter of profitability.    The online giant posted adjusted earnings per share of $1.78 for the quarter ended June 30, easily surpassing expectations for $1.11. Net income was $857 million, compared with $92 million in the year-ago period.      

Home furnishings retailer West Elm will open a new store in downtown Reno, Nevada, on Aug. 11.    The 11,000-sq.-ft. store is located on the main floor of the former U.S. Post Office building, which has been transformed into The Basement marketplace, an underground venue with a mission to create a multi-use incubator space of both retail and food vendors celebrating handicraft.   

Walgreens on Thursday announced the company will discontinue operations of drugstore.com and Beauty.com in favor of focusing on its core online property Walgreens.com.