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Amazon Is Not Killing Every Retailer, Only These Laggards

“Investors should look to invest in a retailer that has “nice in-store traffic…and healthy affirmation that they’ll continue to grow e-commerce.”” writes Katherine Ross for thestreet.com. Many traditional retailers were in trouble and the industry has become more concentrated with Amazon leading the way.”. In each case, the retailer is connecting its physical stores to the virtual world. Source: thestreet.com Share This:

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Walmart asks some beauty suppliers to consider sourcing outside of China

“Walmart Inc has asked some beauty suppliers to consider sourcing products from outside China, as it looks for ways to mitigate the impact of a new set of tariffs on Chinese products proposed by the Trump administration” writes Scott Olson for cnbc.com. In an email sent to some beauty suppliers on Aug. 7, seen by Reuters, the retailer asks if they have facilities outside China, and if not, whether they would consider investing in them, to broaden their sourcing ability.He also said that one of the mitigation strategies for the…

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Markets News 

Australian retailer Wesfarmers soars on hopes for swift turnaround

“Wesfarmers shares had jumped 3.2 percent to a record high of A$52.21 by 0505 GMT, while the broader market edged higher” writes William West Afp for cnbc.com. “Finally the sum of the parts is starting to equal the whole,” said James McGlew, executive director of Perth stockbroker Argonaut Ltd, which owns Wesfarmers shares.Australian conglomerate Wesfarmers Ltd posted record earnings in core divisions on Wednesday, sending its shares to a record high as investors glimpsed the rapid growth promised by a restructuring initiated by new managing director Rob Scott.Coles’ earnings fell…

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Collapsed UK retailer BHS pension scheme secured by $1 billion insurance buyout

“A pension insurance buyout involves a transfer of the promise to pay pension fund members, shifting that responsibility from the fund to the insurer, and giving policyholders a guaranteed income stream” writes Midwest Communications Inc for 95kqds.com. LONDON (Reuters) – The pensions of 9,000 employees of collapsed British department store chain BHS were secured on Sunday after a specialist insurer announced an insurance buyout of the firm’s ‘BHS2’ scheme covering 800 million pounds ($1 billion) of liabilities.Pension Insurance Corporation said the buyout left members of the scheme, which was set…

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Mattress Firm explores US bankruptcy to close stores

“Mattress Firm Inc, the largest U.S. mattress retailer, is considering a potential bankruptcy filing as it seeks ways to get out of costly store leases and shut some of its 3,000 locations that are losing money, people familiar with the matter said” writes Aol Staff for aol.com. Filing for bankruptcy would allow Mattress Firm to clean up its real estate portfolio and improve cash flow and profitability, analysts at Piper Jaffray Companies wrote in a research note last week. Source: aol.com Share This:

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House of Fraser rescue hopes fade amid cash crisis

“Hopes of a rescue deal for House of Fraser are fading after the cash crunch engulfing the chain forced the price of its bonds into a rapid spiral” writes Ben Marlow for telegraph.co.uk. The retailer has been hit by a series of credit rating downgrades and the pulling of C.Banner’s rescue deal altogether.The retailer’s bonds are trading at an all-time low of just 30p in the pound, having plummeted 57pc in the space of a week.The steep price drop suggest that debt investors hold little hope of being repaid. Source: telegraph.co.uk…

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Crypto News 

No, Starbucks won’t be accepting Bitcoin

“Rather, the exchange will convert digital assets like bitcoin into US dollars, which can be used at Starbucks,” a Starbucks spokesperson confirmed to Motherboard” reports cnet.com. “Customers will not be able to pay for Frappuccinos with bitcoin,” a Starbucks spokesperson reportedly told Motherboard.But contrary to the headlines you might have seen around the web, Starbucks isn’t planning to actually accept bitcoins itself.Starbucks is simply the “flagship retailer” for a new cryptocurrency company called Bakkt, whose purpose is to let users and companies alike trade digital money and convert it into traditional…

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$2B suit claims Walmart stole tech that helps keep produce fresh

“Zest said it had worked with Walmart for years on Zest Fresh before the retailer lost interest last November” reports nypost.com. In its $2 billion complaint, Zest Labs and its parent said Walmart’s “Eden” technology to preserve fruit and vegetable freshness “looks, sounds, and functions” like its own Zest Fresh technology. Source: nypost.com Share This:

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