Jeff Bezos sold $1.7 billion of Amazon.com Inc. stock, bringing the amount he’s unloaded this month to about $6.7 billion. Bezos sold 521,936 shares under a pre-arranged trading plan, according to U.S. Securities and Exchange Commission filings. That brings the total sold in three batches in May to 2 million shares. He said in … Read more
Subway plans to hire 40,000 workers in May, but that may not be easy. Subway closed 1500 stores in 2020 and franchisees say returning to normal hours is difficult due to a lack of workers. Other restaurant chains are holding hiring events, adding extra perks, and, in some cases, raising wages to find staff. See … Read more
Zomato said revenue from operations rose from ₹466 crore in FY18 to ₹2,604 crore in FY20. Food delivery app Zomato Ltd., backed by China’s Ant Group, on Wednesday filed a draft red herring prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) to raise ₹8,250 crore. The IPO would comprise fresh issue of … Read more
At Walmart Inc., the robots are losing their jobs. The retailer is phasing out the hulking automated pickup towers that were erected in more than 1,500 stores to dispense online orders. The decision reflects a growing focus on curbside pickup services that have become more popular during the Covid-19 pandemic and continues a broader retreat … Read more
While Alibaba is the dominant force in e-commerce with a global reputation, Wang, a generation younger, has built Meituan into a fearsome rival, the world’s largest delivery empire with ambitions to encroach on Alibaba’s home turf. There’s also years of bad blood between the two companies after an early alliance broke down. Now Wang, 42, … Read more
Curbside pickup got a major boost because of the pandemic as customers avoided going into stores. Experts predict that the shift to online grocery delivery will continue even as the pandemic subsides, and COVID-19 advanced the industry several years.I’ve been doing curbside pickup at Walmart since the summer using Walmart’s app. Here’s what it’s like. … Read more
Hamleys, a British retail icon that hasn’t made a profit for a number of years, plans to quadruple its outlets in the former British colony to more than 500 in three years despite the pandemic, according to Darshan Mehta, chief executive officer of Ambani’s Reliance Brands Ltd. Besides the main growth market, the company is … Read more
Cinema, retail and shopping industries have just begun their recovery process and won’t be able to bear another shutdown, according to industry associations who have urged Chief Minister Uddhav Thackeray to not impose a lockdown in Maharashtra where COVID-19 cases continue to rise. The Multiplex Association of India (MAI), Retail Association of India (RAI), and … Read more
Inside supermarkets of Reliance Retail, run by India’s richest man, Mukesh Ambani, little-known food and home cleaning brands take pride of place on shelves alongside global labels owned by giants Nestle, Unilever and Coca-Cola. Products like Snac tac noodles and Yeah! colas are Reliance’s private label brands – and billionaire Ambani’s not-so-secret weapons as he … Read more