News

Amazon puts spotlight on start-ups
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.
Report highlights salary of GNC interim CEO

Aaron’s Q2 profits down; hints at store closings

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.
Lowe's to open Nashville distribution hub

Lowe's is amping up its distribution game with a new direct fulfillment center near Nashville. At a square footage of 1.1 million, the facility will be a Lowe's first in that it will ship packages directly to customers.
Under Armour exec jumps ship to join Starbucks

A key player in Under Armour’s effort to increase sales of women’s goods is leaving to join Starbucks Corp. But first she has to learn how to serve up espresso.
Kroger names IRI as preferred market insights partner

Kroger has reached a long-term agreement with IRI that will enable the firm to provide the nation's largest grocery chain with market measurment serices that further enhance its "Customer 1st" strategy.
West Elm opens store in a former post office

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 to shut down two of its digital properties

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.
Amazon crushes earnings expectations

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.
GNC taps former PetSmart head as interim CEO; suspends guidance

GNC Holdings on Thursday replaced its chief executive and suspended its earnings guidance. It also reported disappointing second quarter results. The company has appointed former PetSmart chief executive Robert F. Moran as interim CEO, effective immediately. Moran, a director of GNC, replaces Michael G. Archbold, who has also resigned from the GNC board.