Sales & Marketing

Walmart is no stranger to innovation. However, when defining the secret to the company’s success, Walmart’s chief executive Doug McMillon said he just has to look within the company’s proverbial four walls.  

Convenience-store giant 7-Eleven is opening a store that allows customers to pay simply with a wave of their hand.  

An online clothing brand best known for its signature shirts that are designed to be worn untucked is going to open at Mall of America, in Bloomington, Minnesota.    Untuckit will open a 1,300-sq.-ft. outpost  at the giant mall this fall. It will be the company's first store in Minnesota, and carry shirts for both men and women.      

“Retail that can be replaced by the Internet is suffering. We’re trying to give an experience with great architecture, places to hang out and good people,” Regency Centers’ John Mehigan told the Orange County Register last week. That means food and beverage concepts, and lots of them.  

A lawsuit accusing a natural-foods grocer of overcharging customers has been revived.   On Friday, June 2, the 2nd U.S. Circuit Court of Appeals in New York City ordered Whole Foods Market to face a proposed class-action lawsuit accusing it of overcharging shoppers in New York City. The suit claims the chain overstated the weight of pre-packaged food in its supermarkets, according to Reuters.  

Teens’ demand for slime to fidget spinners helped boost Five Below’s first quarter sales, comps and earnings well above expectations.   For the first quarter ended April 29, the teen value retailer reported a net income of $8.4 million compared to $6.8 million in the first quarter of fiscal 2016. Meanwhile, the chain’s sales increased almost 21% to $232.9 million, from $192.7 million in the first quarter of fiscal 2016.  

Macy’s named two key leaders in a move to bolster the company’s digital initiatives.   The department store chain named Yasir Anwar as its executive VP and CTO, effective immediately. In this new role, Anwar will oversee all technology functions for Macy’s, including expanding the company’s technological capabilities and further driving mobile and digital growth.  

Peloton, a four-year-old startup that sells exercise bikes tied to a live-streamed workout experience, is revving up for expansion armed with fresh capital.   The company announced it has recently closed a $325 million series E financing round, which brings its total valuation to $1.25 billion. The round was led by Wellington Management, Fidelity Investments, Kleiner Perkins, and True Ventures. Other significant investors in this round included Comcast NBCUniversal, GGV Capital, Balyasny, and QuestMark.