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ICYMI: Children's apparel retailer Carter's plans to open 1,000 new stores by 2027, seeing an opportunity as its ecommerce declines, while ACT founder Rachel Kibbe discusses the momentum behind circularity in apparel.
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week of 5/5/23 |
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The curious case of Walmart's venture into creating a stable of hot startup DTC brands has come to a close, with the 2023 sales of Moosejaw, Bonobos and Eloquii in quick succession. So it's a fitting time to take a look at the six-year-plus journey that began with the $3.3 billion acquisition of Jet.com. We look back and ruminate with Raj Konanahalli, a partner and managing director with AlixPartners.
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Pitney Bowes reported a 10% drop in Q1 revenue and a net loss of $8 million vs. income of $21 million in 2022, and announced unspecified staff cuts in its global ecommerce and domestic parcel units, as it looks at a contentious shareholder meeting with major investors eager for wholesale changes. The opposition group has put forward turnaround specialist Lance Rosenzweig as an interim CEO candidate.
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Shopify has pulled the plug on its ambitious in-house logistics business built up in recent years, selling Deliverr to global supply chain provider Flexport and warehouse robotics firm 6 River Systems to UK-based fulfillment automation firm Ocado. “We are changing the shape of Shopify significantly today to pay unshared attention to our mission,” said Shopify CEO Tobi Lutke in a letter to employees.
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The USPS won’t receive EVs from Oshkosh until June 2024, nine months behind schedule, which was revealed in a court document related to lawsuits against the USPS and Postmaster General Louis DeJoy. A raft of attorneys general and environmental groups threaten to seek removal of a litigation stay if any more gas-powered vehicles are purchased before an environmental review is completed.
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