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TechBytes: Staying Competitive on Amazon Prime Day
Tuesday, July 12 marks the return of Amazon Prime Day. Based on last year’s results, Amazon will grab a sizable chunk of all online sales that day. Special “countdown deals” starting July 5 will also help funnel more e-commerce traffic than normal in Amazon’s direction. Walmart is countering with its own July online sales event built around its ShippingPass free shipping program. -
Rough seas for Pier 1
Home décor retailer Pier 1 Imports swung to a loss in its first quarter amid heavy promotions caused by weak sales. The chain reported a loss of $6 million for the quarter ended May 28, compared to net income of $6.9 million in the year-ago period. Revenue fell 4.2% to $418.4 million in the quarter, also less than expected. Same-store sales were down 2.5%.

