Walmart Q4 Comp Sales (ex-fuel): Walmart U.S. +4.0% / Sam’s Club +3.1%

• Walmart Int’l Q4 net sales +13%
• Global eCommerce sales grew 23%
• Global adv business grew ~ 33%, including 22% for Walmart Connect in the U.S. Press release

 

Walmart to buy TV maker Vizio for $2.3 billion in move to grow its ad business at CNBC. “Walmart’s control of the Vizio platform will give companies that advertise with the retailer a greater reach. In a news release, Walmart said Vizio’s SmartCast system has 18 million active accounts.” Read more

 

Home Depot Q4 U.S. comp sales down 4% Press release

 

…Home Depot forecasts weak 2024 results as demand fails to pick up at Reuters. “Foot traffic at Home Depot fell in the fourth quarter, with declines worsening toward January due to harsh winter weather…”There was an expectation … that the company could return to growth sooner than they’re guiding to,” said Jonathan Reid, a director at Fitch Ratings.” Read more

 

The rise and fall of Drizly at Boston Globe. “Sitting on an old Steelcase fabric chair in (college entrepreneurship guru) Gallaugher’s office, Rellas explained that store owners were terrified of big companies like Amazon, had their own delivery infrastructure, and could benefit from a single app with a nationwide brand. “That was actually a really sophisticated insight,” Gallaugher said. “The joke now is that if I convince you to try not to build your business, then you’re probably going to have a successful [business] someday.” Read more

 

Amazon driver fends off attack from drunk, naked NYC migrant — and ends up in cuffs at NY Post

 

CANADA – Loblaw to build more than 40 new stores as part of expansion plan at Toronto Star. “The parent company of Loblaws and Shoppers Drug Mart says it will also expand or relocate another 10 locations. It will renovate more than 700 others.” Read more

 

Alibaba bets on overseas e-commerce unit amid sluggish growth in China at CNBC. “One bright spot in Alibaba’s recent December quarter earnings was its international e-commerce business unit which saw revenue increase 44% from a year ago. Alibaba International Digital Commerce Group includes platforms like AliExpress, Lazada, Daraz and Trendyol.” Read more

 

CANADA – Loblaw, Walmart urged to sign grocery code or risk legislation at Financial Post

 

Flipkart has weighed acquiring Google-backed instant delivery startup Dunzo at TechCrunch. “Flipkart, owned by Walmart, is skeptical about precisely what it would be able to take over if it were to acquire Dunzo, which has several IP relationships with Reliance Retail, India’s largest retail chain…Flipkart leads the Indian e-commerce market and is valued at over $32 billion.” Read more

 

Macy’s receives Director nominations from Arkhouse Press release

 

Guess?, Inc. and WHP Global to Acquire rag & bone “Currently, the brand directly operates 34 stores in the U.S. and two stores in the U.K….In 2023, rag & bone generated unaudited annual revenue of approximately $250 million and adjusted EBITDA of $18 million.” Press release

 

Dillard’s introduces The Coterie Shop Press release

 

TikTok violates Indonesian in-app transactions ban, says minister at Reuters. “TikTok had been forced to close its relatively new e-commerce service, TikTok Shop, in Indonesia after the country banned online shopping on social media platforms last year, citing the need to protect smaller merchants and users’ data.” Read more

 

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