GBP News 

Retailers warn of no-deal price rises

“UK and Irish retailers have joined forces to warn that higher shop prices will be inevitable if the UK leaves the EU without a deal, as the impact on supply chains and operating costs would be “devastating.”” writes Ben Marlow for telegraph.co.uk. In a joint statement, the Northern Ireland Retail Consortium, the British Retail Consortium and Retail Ireland called on the British government to end the deadlock over the Brexit deal, which MPs rejected in January due to the Irish backstop clause. Source: telegraph.co.uk

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Walmart ‘holding its own’ against Amazon ahead of earnings report

“Based on the firm’s data, Walmart surpassed Apple to become the No. 3 internet retailer, behind only Amazon and eBay” writes Lauren Thomas for cnbc.com. That’s something Amazon has largely been able to get away with, more than other retailers like Walmart and Target.Analysts are expecting Walmart to report adjusted earnings per share of $1.33 for the fiscal fourth quarter with sales of $138.7 billion, according to a poll by Refinitiv.Walmart is set to report quarterly earnings Tuesday morning before the bell. Source: cnbc.com

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Economists skeptical over stunning December decline in retail sales

“The Commerce Department on Thursday said retail sales slumped 1.2% at the end of 2018, marking the biggest decline in nine years” writes Jeffry Bartash for marketwatch.com. Many economists don’t believe it. “There’s no denying retail sales are weaker, but they are not this weak,” asserted chief economist Richard Moody of Regions Financial.Moody regularly tells investors to ignore preliminary retail sales figures because they are so often heavily revised. Source: marketwatch.com

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Accenture, Qualcomm, and Kellogg team up on eye-tracking mobile VR for retailers

“The VR merchandising solution can provide deeper data while expediting the merchandising process and reducing costs at scale by: The VR merchandising solution will be on display at MWC 2019 Barcelona from February 25-28 in the Accenture booth” writes Dean Takahashi for venturebeat.com. Accenture, Qualcomm, and Kellogg have launched a pilot test that uses eye-tracking technology in a virtual reality headset to determine the best way to stock shelves for retailers. Source: venturebeat.com

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Joor raises $16 million to expand its online fashion marketplace for wholesalers

“Joor, an online marketplace that connects fashion brands and retailers, has closed $16 million in series C funding as it looks to add more tools to its platform and expand operations in Asia” writes Manish Singh for venturebeat.com. Through its platform, Joor offers free and paid tools to brands and businesses to help them collect and manage data and inform production, forecasting, and merchandizing decisions.Savilia declined to reveal the company’s revenues but said Joor’s platform has netted $23 billion in gross merchandise volume across 3.68 million orders.The company currently works…

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Ad-tech firm Criteo is facing an uphill battle after Apple and GDPR threatened to wipe out its revenue — but Amazon’s rivalry with retailers could be a big bright spot

“Criteo is talking to most of the big US retailers about how they can fend off Amazon and better monetize their audiences to brands, Rudelle said” writes Lauren Johnson for businessinsider.com. For example, retailers like Walmart and Target have long had media businesses that that place brands’ ads on their own and other websites.Those two moves were blows to Criteo’s core business of retargeting digital ads to consumers after they look at specific products on retailers’ websites and apps.But matching Amazon’s resources and power is hard for retailers, which has…

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Retailers were expecting to get slammed by soaring transportation costs and a truck-driver shortage in 2019 — but they’re getting an unexpected reprieve

“Transportation costs caught so many large manufacturers by surprise,” Dean Croke, the chief insight officer of FreightWaves, told Business Insider” writes Rachel Premack for businessinsider.com. Van trucking rates sank by 13% from January 2018 to January 2019, according to DAT Solutions.Last year, retailer after retailer sounded the alarm on the rising costs of transportation — and how those costs would have to be passed onto consumers. Source: businessinsider.com

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Retailers respond to State of the Union with plea to end trade war

“American retailers responded to President Trump’s State of the Union address on Tuesday with a plea to resolve a trade war between the world’s two largest economies that he says is necessary to show U.S. resolve” reports washingtonexaminer.com. “We encourage the administration to continue to focus on the end goal, and for Congress to restore, rather than further neglect, its role in trade policy.”. “The overall economy, in our view and based on the conversations we’ve had and the data we see, is very solid,” Shay told reporters. Source: washingtonexaminer.com

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