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FINANCE

  • Amazon CEO reflects on future in annual letter to shareholders
    Amazon Jeff Bezos is certainly not sitting back and relaxing in his company’s success.      As his annual letter to shareholders reveals, Bezos is spending a lot of time thinking how his company can remain vibrant and successful. The letter repeats a theme that the executive brought up in his letter last year: how to keep alive the animal spirits that led Amazon to greatness, reported the Seattle Times.  

  • Toy retailer reports ‘disappointing’ year
    Toys “R” Us reported declines in same-store sales for its fourth quarter and full year amid a highly competitive environment.   

  • Toys ‘R’ Us in new venture with Fung Retailing
    Toys “R” Us is combining its business in Japan with its ones in Greater China and Southeast Asia.   In a joint venture between the toy retailer and Fung Retailing Limited, Toys “R” Us, Japan, which operates 160 stores in the country, will become part of Toys “R” Us, Asia Ltd., which operates 223 stores in Greater China and the Southeast Asia markets and licenses an additional 34 stores in the Philippines and Macau.     

  • Supervalu in $375 million acquisition
    Supervalu Inc. has entered into a deal that will expand its wholesale business into the West Coast.    The company announced it will acquire Unified Grocers, a California-based wholesale grocery distributor, for approximately $375 million.   

  • Whole Foods Market under pressure
    After six straight quarters of declining same-store sales, Whole Foods Market is feeling the heat.    Activist investor Jana Partners disclosed it had taken an 8.3% stake in the chain, and wants to accelerate its turnaround, Bloomberg reported.  

  • Report: Children’s apparel retailer preparing bankruptcy filing
    Gymboree Corp.’s debt and mounting losses may have finally caught up with it.   The embattled retailer is preparing to file for Chapter 11 bankruptcy protection, Bloomberg reported, as it faces a June 1 interest payment on its debt.   Gymboree has more than $1 billion in debt resulting from its Bain Capital buyout in 2010. It warned in March that it was running short on cash.   

  • Report sends Amazon’s stock price surges
    Amazon’s upward trajectory is not going to stop anytime soon — and it’s not going unnoticed on Wall Street.  

  • Consumer electronics retailer to close all stores
    The going-out-of-business sales have started at Hhgregg.   The bankrupt retailer began liquidating its assets on Saturday, April 8, after failing to find a buyer. The chain said it expects to close all of its 220 stores by the end of May.  
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