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Sam’s Club faces new competitive threats
Jet and Boxed are two online retailers taking aim at the warehouse club channel and drawing increased funding from venture capitalists who believe the channel is vulnerable.
New York-based Boxed has raised $33 million and operates three physical warehouses in the Northeast that shoppers interact with digitally. It does not charge a membership fee.
Jet charges a membership fee and functions more like a marketplace by providing a platform for third party sellers.
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Businesses SCORE big with Sam’s Club grant
Sam’s Club is taking its efforts to help and recognize small businesses to a new level with a $700,000 grant to SCORE.
The American Small Business Championship through SCORE will award 102 small businesses, two in every state and the District of Columbia, for their sacrifice and dedication to the success of their business. The Small Business Champions will receive a $1,000 Sam's Club gift card, an all-expense-paid trip to a training event, SCORE mentoring for one year, and promotion throughout the year to showcase each Champion's story.
