News Briefs

The Knot’s new ChatGPT venture complements a broader effort the retailer has been undertaking to enhance its customer experience with AI. The company says it will continue releasing technology innovations throughout the year.

[READ MORE: The Knot unveils AI update to digital wedding planning service]

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Walmart Inc. is the first traditional retailer to join a very exclusive club — one dominated by tech giants such as Nvidia Corp. and Google parent Alphabet Inc.

The retail giant crossed the $1 trillion market capitalization threshold on Tuesday as its shares surged. Walmart’s stock has climbed more than 24% in the past year, and over 11% so far in 2026, reported CNBC. The achievement came days after John Furner succeeded Doug McMillion as CEO of Walmart.

[READ MORE: New CEOs take reins at Walmart and Target facing much different scenarios]

While the milestone was still on an intraday basis, Walmart is just the 10th U.S. company to exceed the $1 trillion market value mark, and only the second non-tech company to cross the threshold, with the other being Berkshire Hathaway, according to Marketwatch. The current leader in market value is Nvidia, with a market cap of $4.37 trillion. Others in the top 10 include Apple, Microsoft and Amazon.

Walmart’s ascent has come as its digital business is booming, with e-commerce sales rising 27% year over year for its third quarter. The retailer has also been widening its appeal as it continues to attract more higher-income shoppers amid a time of economic uncertainty. 

In December, Walmart moved from the New York Stock Exchange to the Nasdaq.

Petco announced the successful closing of its long-term debt refinancing and a new role for executive chairman Glenn Murphy.

The pet supplies and services retailer said that Murphy has transitioned to the role of chairman of the board of directors, effective Feb. 1. He was appointed executive chairman of Petco in May 2024, following the departure of CEO and chairman Ron Coughlin, to improve profitability, lead strategic long-term growth and oversee the search for a new CEO.

In July 2024, Petco named Joel Anderson, former CEO of Five Below, as chief executive.

"Glenn has been extremely supportive over the last year and a half, and I am grateful for his leadership during a period of great transformation for the company,” said Anderson. “I am proud of what we've accomplished to date. Notably, we have strengthened Petco's economic model and retail operating fundamentals, resulting in significant improvement in profitability and cashflow. Additionally, with the successfully executed refinancing transaction which closed today, we are marching towards the company's goal of reduced leverage and greater financial flexibility.”

Murphy is the founder and CEO  of FIS-Holdings Ltd., a high‐impact consumer‐focused investment firm. Prior to FIS Holdings, he served as chairman and CEO  of The Gap, Inc. from 2007 until 2014.  Before that, Murphy was chairman and CEO of Shoppers Drug Mart Corp., from 2001 to 2007.

"With a seasoned and proven team now in place, the time is right for my transition to the chairman role,” Murphy said. “Under Joel's executive leadership, and with the support from the Board, I am confident in the entire team's ability to execute on the growth potential ahead for Petco."

 Petco operates more than 1,500 stores across the U.S., Mexico and Puerto Rico

The third-largest rent-to-own franchisor in the United States has a new owner.

Buddy's Home Furnishings has been acquired by Los Angeles-based private equity firm Skyline Investors. With more than 220 stores across 18 states and in Guam, Buddy's specializes in the sales and rental ownership of furniture, electronics and appliances. 

Skyline structured its investment alongside Standard Communities’ co-founders and principals Jeffrey Jaeger and Scott Alter, whose expertise in affordable housing development complements Buddy's mission of serving families across the U.S., the company said.

Cullinan Properties, the real estate developer behind the 310-acre Rock Run Collection mixed-use property in Chicagoland, has promoted Wayne Wozniak to the role of Chief Financial Officer.

According to the Peoria, Ill.-based company, Wozniak has played a critical role in guiding Cullinan’s financial strategy and supporting the company’s long-term growth. 

In his new role, he will oversee financial operations, including accounting, tax strategy, financial reporting, forecasting, and capital planning, while working closely with executive leadership to advance Cullinan’s strategic initiatives.

“Wayne’s financial leadership and deep understanding of our business have been instrumental to Cullinan’s success,” said Diane Cullinan Oberhelman, the founder and chairman of Cullinan Properties. 

“He brings a thoughtful, disciplined approach to financial strategy and has earned the trust of our leadership team through his sound judgment and consistent execution,” she said.

Cullinan noted that Wozniak has been integral in managing complex financial projects across Cullinan’s portfolio, supporting development activity and operational performance.

“This is a company with a strong vision, a talented team, and over 40 years with a commitment to excellence,” said Wozniak.” I look forward to continuing to support Cullinan’s strategic growth and ensuring we remain financially well-positioned for the future.”

The 166,000-sq.-ft. Hollywood Casino has already opened at Rock Run, which is expected to welcome more than a million visitors on a annual basis. 

The project — which is near the intersection of Interstates 80 and 55 — will include more than 500 residential units and multiple hotel brands.