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The News, Commentary & Events that Shaped Commerce This Week
week of 8/24/2018 |
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| Macy’s Reports 1.1% Drop in Net Sales, Booming Mobile Growth in Q2 |
| Macy’s Inc. reported a 1.1% decline in net sales for the second quarter, from $5.6 billion to $5.5 billion, with comp sales inching up just 0.5% and double-digit online sales in the same period. Mobile sales via the Macy’s app were up 50%+ in the first half of 2018. See how Macy's did in other areas of its business. …» |
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| UPS Looks to Solve Supply Chain Issues with Blockchain Patent |
| UPS has filed a U.S. patent application for a technology that would use blockchain and its shared distributed ledgers to more efficiently track and manage packages shipped within its network as well as those handed off to other carriers worldwide.…» |
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| Tuft & Needle to be Acquired by Serta Simmons |
| Startup online mattress seller Tuft & Needle will be acquired by old-line mattress company Serta Simmons Bedding for an undisclosed sum, according to various media reports, as Serta looks to bolster its digital presence and gain back share grabbed by new online players.…» |
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| Target Reports Ecommerce Growth of 41% in Q2 |
| Target reported a 41% increase in ecommerce sales during the second quarter, with overall revenue increasing 7%. Comp sales were up 6.5% in the quarter, the strongest showing since 2005, driven by a 6% growth in store traffic. Here are some opportunities Target plans to focus on in the future. …» |
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| Sears to Close 46 More Stores |
| Sears Holdings Inc. announced it plans to close 46 more stores as part of ongoing efforts to streamline its operations, strengthen its capital position and focus on its best performing stores. Stores are expected to close by November. …» |
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