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[1/3] The sign outside the Sam's Club is seen at its store in Shanghai, China July 12, 2023. The membership stores are also gaining ground amid a sales decline in China's hypermarket sector, which struggled with a shift towards online purchases during the pandemic. The club warehouse format "is the only bright spot," said Derek Deng, who leads Bain & Company's consumer products practice in greater China. "Sam's Club are doing well. But Sam's Club was ultimately confident it is currently miles ahead, one of the people said.
Persons: Aly, Liu Zheng, lockdowns, Derek Deng, Bain, Kantar Worldpanel, Judith McKenna, Bain's Deng, Christina Zhu, Sophie Yu, Brenda Goh, Jamie Freed Organizations: Sam's, REUTERS, Sam's Club, Costco, Walmart, HK, Freshippo, Carrefour, Yonghui, Bain, Reuters Graphics, Reuters, Sun, Retail, M, Beijing Yaodi Agriculture, M Club, Thomson Locations: Shanghai, China, BEIJING, Beijing, U.S, United States, Carrefour China, Peking, Yangzhou, Lanzhou, Sam's
[1/3] The sign outside the Sam's Club is seen at its store in Shanghai, China July 12, 2023. The membership stores are also gaining ground amid a sales decline in China's hypermarket sector, which struggled with a shift towards online purchases during the pandemic. The club warehouse format "is the only bright spot," said Derek Deng, who leads Bain & Company's consumer products practice in greater China. "Sam's Club are doing well. But Sam's Club was ultimately confident it is currently miles ahead, one of the people said.
Persons: Aly, Liu Zheng, lockdowns, Derek Deng, Bain, Kantar Worldpanel, Judith McKenna, Bain's Deng, Christina Zhu, Sophie Yu, Brenda Goh, Jamie Freed Organizations: Sam's, REUTERS, Sam's Club, Costco, Walmart, HK, Freshippo, Carrefour, Yonghui, Bain, Reuters Graphics, Reuters, Sun, Retail, M, Beijing Yaodi Agriculture, M Club, Thomson Locations: Shanghai, China, BEIJING, Beijing, U.S, United States, Carrefour China, Peking, Yangzhou, Lanzhou, Sam's
The nation's largest retailer said Thursday that it will cut the price of Walmart+ in half for those low-income households. Walmart has not disclosed total Walmart+ subscribers, but said about a quarter of its members get government assistance. Walmart launched Walmart+ in 2020 to hook shoppers and increase the likelihood of them spending more on its website and in stores. Along with the Walmart+ discounted price, Walmart said it has made it easier for families receiving food aid to shop online. It said it now accepts SNAP online in all 50 states.
Persons: Doug McMillon, Morgan Stanley Organizations: Walmart, Nutrition, SNAP, United States Department of Agriculture, Amazon Prime, Costco, Sam's, Paramount, Consumer Intelligence Research Partners, Walmart Connect Locations: U.S, Alaska
The National Retail Federation is predicting record spending , whether students are heading back to elementary school, high school or college. Bracing for higher prices as wages fall Baked into that outlook was an expectation held by the vast majority of respondents, 82%, that prices will be higher this year than in 2022. As in the KPMG survey, the gain largely reflected the perception that prices will be higher this year. In the JLL poll, Walmart , Target and Amazon were among the top three retailers parents planned to shop, by a wide margin. Stifel reiterated its price target of $163 for Walmart, saying, "We continue to see more upside than downside from current levels."
Persons: Paul Ashworth, Staples, Mark Astrachan, Astrachan, Stifel, Corey Tarlowe, Tarlowe Organizations: Prime, National Retail Federation, KPMG, Big, Capital Economics, Consumers, Walmart, Target, Old Navy, Kohl's, Macy's, Costco, Adobe Analytics, Jefferies, Amazon, Walmart U.S, Bed Locations: American
Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Authorities have seized a batch of remarkably sophisticated credit card skimmers that fraudsters installed in Walmart stores in central New York and Maine. The skimming devices are designed to fit over the real payment terminal in order to capture customers' financial data during a transaction. One of the card skimming devices seized by law enforcement. The FBI estimates credit card skimming fraud costs consumers and financial institutions more than $1 billion per year, and recommends shoppers take precautions to avoid falling victim to the scam.
Persons: York State Police Major Vincent Lightcap, we're Organizations: Service, Privacy, Police, Authorities, Walmart, New York State Police, York State Police, YouTube, NewsChannel Locations: Wall, Silicon, New York, Maine, Oswego , New York
But while 44% of India's smartphones sales are now online, the brick-and-mortar segment remains the bigger play and Xiaomi expects it to grow further. "Our market position in offline is substantially lower than what it is online," Xiaomi's India head, Muralikrishnan B., said in an interview on Friday. The South Korean giant has a 20% market share in India, while Xiaomi, which historically focussed on budget phones, has 16%. Xiaomi plans to hire more store promoters - salespeople who lure, pitch and sell phones to prospective buyers inside outlets. Another significant India challenge for Xiaomi is a federal agency's $673 million freeze on its bank assets since last year.
Persons: Xiaomi, Flipkart, Muralikrishnan, Tarun Pathak, We'll, Aditya Kalra, Munsif Vengattil, William Mallard Organizations: DELHI, HK, South, Samsung, Research, Thomson Locations: India, Hong Kong
EV brand Smart plans funding led by Tianqi Lithium
  + stars: | 2023-07-13 | by ( ) www.reuters.com   time to read: +1 min
SHANGHAI, July 13 (Reuters) - EV brand Smart said on Thursday it planned to raise $250-300 million via series-A funding which it hoped would enhance its long-term sustainable development strategy and accelerate its global development. Chinese lithium producer Tianqi Lithium Corp (002466.SZ) has agreed to invest $150 million in the fund raising, Smart said in a statement. Smart, a joint venture of Germany's Mercedes-Benz Group AG (MBGn.DE) and China's Zhejiang Geely Holding Group (GEELY.UL), said both firms will remain equal controlling shareholders. "Thanks to the support from Mercedes-Benz and Geely, Smart now is accelerating its global development and business operation. Meanwhile, we are more than glad to welcome the strategic investments of worldwide industry leaders, such as Tianqi Lithium," Smart's Global CEO Tong Xiangbei said in the statement.
Persons: Smart, Germany's Mercedes, Tong Xiangbei, Zhang Yan, Brenda Goh, Meg Shen Organizations: Lithium Corp, Benz Group AG, Zhejiang Geely Holding, Mercedes, Benz, Smart, Thomson Locations: SHANGHAI, Zhejiang
A common phrase you'll hear from folks at Smead Capital Management is "fear stock market failure." He manages the Smead Value Fund (SMVLX), which has beaten 99% of similar funds over the last five-year period, and 97% over the last 10- and 15-year periods, according to Morningstar data. Value stocks to buyWithin value stocks, Smead is most bullish on the energy sector, as he believes we're in the earlier stages of a "commodities super cycle." Another area of the market Smead is bullish on right now is shopping mall real-estate investment trusts, or REITs. "Collecting a 6% dividend from them and having upside potential in a stock market that might struggle looks like a winning hand."
Persons: Bill Smead, Smead, he's, Smith Barney, Wells, Ben, we're, Stifel's Barry Bannister, millenials, it's Organizations: APA, DVN, MAC, Smead Capital Management, Morningstar, Smead Capital, Smead, Management, Occidental Petroleum, ConocoPhillips, Property Group, Simon Property Group Locations: OXY, Devon
"He would know people's weaknesses and what they wanted and somehow always have something to offer," a former close friend said. Another close friend said Mickum once gave her a $1,000 loan "within minutes" when she needed it because of a credit-card crisis. He never "let the truth get in the way of a good story," a former close friend said. Hermès bags, like the Birkin and the Kelly, have always been symbols of unattainable luxury. There wasn't even a dust bag; Mickum claimed his mom's assistant would drop it off later.
Persons: George Mickum strode, Carlyle, Patty Hearst, He'd, Mickum, Birkin, swilling, Patty's, Gillian Hearst, Mr, George Mickum, Gillian Hearst's, George, Sally Painter, who'd, Peter Davis, Jackie O, Barbara Walters, Alessia Fendi, influencer Hannah Stella, Nick Hissom, Steve Wynn, Hearst, they'd, Prince Charles, Anna Delvey, Patty Hearst's, Rumor, he'd, wasn't, Met Breuer, Peter Poopat, George Santos, Trinity, Elisabeth Thieriot, Thieriot, Hermes, , Painter, Paul Mickum, George Mickum III, Sally, Painter's, Poopat, PJ Pascual, Patrick McMullan, Ramona Singer, Lauren Lawrence, Lawrence, Van Cleef, Nicole Salmasi, Trudy, Mike Vitelli, Eric Schmidt, Schmidt, Eric, R, Couri Hay, They're, Astor, William Randolph Hearst, Orson Welles, Kane, Gillian's, Bill Clinton, Patty, Bernard Shaw, Gillian, Lydia —, Shaw, Maxim, Lydia, Kane we're, Christian Simonds, Pierre, Krista Corl, Dee Dee, Scott Buccheit, Naeem Delbridge, Pascual, who's, We're, buttering, Simonds, Matthew Kehoe, England, — Hearst, Delbridge, Hearst's, Mario Glen Coco, Hearsts, Astrid Stawiarz, Tiger Woods, Ernie Els, Justin Timberlake, Joe Lewis, Buccheit, Mary McCarthy, Lillian Hellman, Mickum's, Christie Grimm, Steve, Kameron Ramirez, Hissom, Ramirez, Nick, Hunt, Damien Hirst, Douglas Elliman, Harry Winston, David Fiszel, invitees, Fiszel, Darian, Winston, Martha Stewart's, Mendel minks, Vacheron Constantin, Tao, Melinda French Gates, Shawn Mendes, Bill, Hillary Clinton, Neiman Marcus, Damien Hirst's, Damien, weren't, Kelly, Alexis Clarbour, Clarbour, Paul Wharton, you've, Wharton, Sean Zanni, Michael Coste, Hannah Stella, Coste's, Stella, Scott Fitzgerald, Coste, Goodman, Courroies Birkin, didn't, Aman, Cartier, Mickum's bluster, skeptically, satchel, Clarbour's, He's, We've, Sider, Philippe, Buccheit texted Pascual, he's, Hay, Café Carlyle, Alexander Hankin, Burisma, Hunter Biden, Mickum hasn't, There's, They've, Amy X, Wang, King Charles, Tracey Amon, Amon, GEORGE MICKUM Organizations: Hearst, Blue, Potomac, Hamptons, East, Met, University of Delaware, Southampton Bathing Corporation, Fields School, Georgetown Law, DC, Town &, New York Daily News, The New York Times, Google, Carnegie, Rockefeller, Cosmopolitan, Symbionese Liberation Army, Hearst Corporation, Vogue, Society of Memorial Sloan Kettering, Stockbridge Golf, New, Tiger, Tottenham, Douglas, Martha Stewart's Hamptons, Mickum, Projects, Madison, Getty, Antibes, Nike, Rue du Faubourg Saint, Couture, US, UN, New Yorkers, Avenue Couture, Hermès, Republican, Justice Department, Blue Star, Town, New York Times Magazine Locations: Bemelmans, Clinton, York, Palm, New, London, Manhattan, Dalton, Bay, Windsor Castle, Haute, Washington , DC, New York, Baccarat, The, San Francisco, Wilton , Connecticut, Side, Wyntoon, California, Buccheit, woodsy Stockbridge , Massachusetts, Stockbridge, Bahamas, Albany, Nobu, Martha, Peking, Paris, Istanbul, St, Georgetown, China, Italy, Hermès, Amalfi Coast, du, Midtown, brunch, Rue, Central Park, Mickum, Turkey, La, Café, Ukrainian, Ukraine
Unlike Prime Day, where you must be an Amazon Prime member, anyone can take advantage of Walmart Plus Week. To compare the Walmart Plus Week deals to Amazon, visit our best Prime Day deals live blog. Walmart is holding a competing Prime Day sale called Walmart Plus Week. Do I need a Walmart Plus subscription to get Walmart Plus Week deals? Walmart Plus Week started with early access deals for Walmart Plus members on July 10.
Persons: Price Dyson, Dyson, Price, Opal Organizations: Walmart, Amazon, Glide, Price Samsung Galaxy, Samsung Galaxy, Android, Price GE, Deal, Monitor, Amazon Prime
We're also in the middle of Walmart+ Week, a big sales event taking place both on Walmart's website and in stores. Here are some of the best Walmart+ Week deals we've found so far from our favorite brands. The best Walmart+ Week deals you can buy right nowDeal icon An icon in the shape of a lightning bolt. $198.00 from Walmart Originally $499.00 Save 60%Is Walmart holding a sale during Amazon Prime Day 2023? Do I need a Walmart+ subscription to get Walmart+ Week deals?
Persons: We're, we've, Price, Dyson Organizations: Amazon, Walmart, Glide, Monitor
And unlike Amazon Prime Day, Walmart+ Week sales are open to all customers, even if you don't have a Walmart+ subscription. Here are some of the best Walmart+ Week deals we've found so far from our favorite brands. And to see how Walmart+ Week compares to Amazon Prime Day, make sure to check out our best Prime Day deals live blog. During Walmart+ Week 2023, it's down to $599 for the king size, which is $30 less than Amazon's deal price. What deals should I expect from Walmart during Walmart+ Week 2023?
Persons: we've, Price, Dyson, Opal Organizations: Walmart, Amazon, Amazon Prime, Glide, Price Samsung Galaxy, Samsung Galaxy, Android, Price GE, Deal, Monitor
Walmart once again is looking to compete directly with Amazon's Prime Day. In previous years, the company held "Rollbacks and More" events in July to compete with Prime Day, and last year Walmart launched a summer savings event called Walmart+ Weekend which took place just before Amazon Prime Day. Walmart is holding a summer savings event called 'Walmart Plus Week' between July 10 and 13, around the same time as Amazon's Prime Day. "Amazon's Prime Day market share will continue to slip, dropping from 62.0% in 2018 to an expected 59.6% in 2023," the report said. Roots of Walmart-Amazon Prime Day rivalryThe yearly battle over customers between Walmart and Amazon's Prime Day could date as far back as 2015.
Persons: Andrew Lipsman, Lipsman, Marc Lore, Jason Del Rey Organizations: Walmart, Amazon's, Service, Amazon, Intelligence, Insider Intelligence, Target, Jet, Target Circle Locations: Wall, Silicon, Amazon
Instacart shoppers said that they are waiting around for hours in parking lots just to claim orders. Insider spoke with five Instacart shoppers across the country about their recent experiences picking and delivering orders on the app. "Overwhelmingly, shoppers say they choose to earn income through the Instacart platform because of the freedom and independence they get with a flexible schedule," Instacart told Insider. Insider sourceBundling orders helps Instacart, but shoppers say that they're a burdenBatch orders — when Instacart combines multiple shoppers' orders — are another source of frustration for workers. "Multi-order batches have been a part of our earnings structure for many years and represent only a small number of full-service batches," Instacart told Insider.
Persons: It's, , Caroline, Instacart, Jim, Alex Bitter Organizations: Service, Instacart, Costco Locations: Utah, Caroline, Indiana, Maryland, Illinois
A key skill he mastered during his 24 years as one of the FBI's lead international negotiators was emotional intelligence. To resolve the conflict, he did three things that he says people with high emotional intelligence do when communicating with others, especially during sensitive conversations:1. This keeps you present and emotionally sober while allowing the bank robber to continue talking. Label the other person's emotionsVoss then told the second bank robber, "It wasn't your fault, was it?" High emotional intelligence requires strategic listening
Persons: Chris Voss, Voss Organizations: Chase Manhattan Bank Locations: Voss, Brooklyn , New York
Chicago area gig workers who use Walmart's delivery platform Spark say bots are a growing issue. They say users who deploy bots make it harder for them to make enough money on the platform. It's unclear exactly how prevalent bots are on Walmart's Spark platform. Workers who fill orders for multiple apps, from Instacart to DoorDash, have used — and complained — about bots for years. Gig workers can set bots to claim specific orders, such as those with delivery addresses close to them.
Persons: , Nancy Marcos, Eric Guzman, it's Organizations: Drivers, Walmart, Chicago Tribune, Service, Tribune, Workers Locations: Chicago, Illinois, Cicero , Illinois, Cicero, Bedford Park, Forest, Instacart
Despite a bloated pipeline of companies waiting to go public and a rebound in tech stocks that pushed the Nasdaq up 30% in the first half of 2023, the IPO drought continues. Last Friday, Israeli beauty and tech company Oddity, which runs the Il Makiage and Spoiled Child brands, filed to go public on the Nasdaq. "You can make 15%-20% in the stock market but lose 15%-20%." "I think that’s done some harm to the traditional IPO market." With the public market still pretty closed, they're asking for alternatives."
Persons: Karl, Josef Hildenbrand, Turo, Reddit, hasn't, aren't, Lise Buyer, Buyer, Goldman Sachs, May, Shannon Stapleton, Jake Dollarhide, Dollarhide, Airbnb, they've, Instacart, Byron Deeter, Deeter, Larry Aschebrook, Aschebrook Organizations: AFP, Getty, Nasdaq, V, New York Stock Exchange, Apple, Nvidia, Coinbase Global Inc, Reuters Bankers, CNBC, Federal Reserve, Longbow Asset Management, Facebook, Clover Health, Venture, Companies, Bessemer Venture Partners, doesn't, Employees, Spotify Locations: U.S, Portola Valley , California, Cava, New York, Pinterest
Casa Bonita, a 50-year-old Mexican restaurant in Colorado, reopened after a $40 million renovation. South Park creators Matt Stone and Trey Parker bought the joint, which was featured in their show. The series, which is set in the fictional small town of South Park, Colorado, features Casa Bonita in an episode in its seventh season. Trey Parker (left) and Matt Stone, the creators of South Park, purchased Casa Bonita in 2021. The zany interior of Casa Bonita, pictured in 2019, has been remodeled, while still being faithful to the original, the new owners have said.
Persons: Matt Stone, Trey Parker, , Araya Doheny, Casa Bonita's, Fox31, Axios, It's, Hyoung Chang, Stefanie Jones, Jones Organizations: Casa, Service, The Denver Post, Casa Bonita, Employees, Denver Gazette Locations: Casa Bonita, Colorado, Lakewood , Colorado, South Park , Colorado, Park, Bonita, Denver
Prime members are more likely to buy groceries online at Walmart than Amazon's stores, per a survey. Previously, Prime members could get free delivery from Amazon Fresh if they ordered at least $35 in items. Although they tend to prefer Walmart, Amazon Prime members are much more likely to order from Whole Foods than non-Prime members are. Noam Galai/ContributorDespite Walmart gaining ground, Coresight found that Prime members were still more likely than non-Prime subscribers to order from Amazon-owned grocers. Do you work or shop at an Amazon Fresh or Whole Foods store and have a story to share?
Persons: , Sujeet Naik, Naik, Coresight, Noam Galai, Jason Buechel, Alex Bitter Organizations: Walmart, Foods, Service, Amazon Prime, Coresight Research, Amazon, Kroger, Costco, Shoppers Locations: Bentonville , Arkansas
Amazon raises investment in India to $26 bln by 2030
  + stars: | 2023-06-24 | by ( ) www.reuters.com   time to read: +2 min
[1/2] A man walks past a logo of Amazon Prime Video during a launch event in Mumbai, India, April 28, 2022. Earlier, Amazon had announced a $6.5 billion investment plan, largely to boost its e-commerce business where it competes with Walmart's Flipkart and billionaire Mukesh Ambani's Reliance Retail. The new investment amount committed now comes to around an additional $6.5 billion. The e-commerce giant's announced investment during Modi's trip adds to other companies, including U.S. semiconductor toolmaker Applied Materials and memory chip firm Micron Technology, which have made commitments during the Indian prime minister's state visit. Modi and Jassy spoke about supporting Indian startups, creating jobs, enabling exports, digitisation, and empowering individuals and small businesses to compete globally, an Amazon blog post said.
Persons: Francis Mascarenhas, Andy Jassy, Narendra Modi, Jassy, Walmart's Flipkart, Mukesh Ambani's, Modi, Sundar Pichai, Tim Cook, Google's, Satya Nadella, Aditya Kalra, William Mallard, Jacqueline Wong, Toby Chopra Organizations: Amazon Prime, REUTERS, Amazon.com Inc, Web Services, Amazon, giant's, Micron Technology, Google, Reuters, Twitter, U.S, Thomson Locations: Mumbai, India, DELHI, United States, U.S, City, India's, Gujarat, Washington
Kevin Hart and Thai Randolph on building a media empire
  + stars: | 2023-06-23 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKevin Hart and Thai Randolph on building a media empireJulia Boorstin sits down with comedian Kevin Hart along with Thai Randolph, CEO of Hartbeat, from the annual Cannes Lions advertising festival. Hart was named the Entertainment Person of the Year at this year's event. The three discuss the growth and outlook for Hart's media company as the landscape continues to evolve.
Persons: Kevin Hart, Thai Randolph, Julia Boorstin, Hart Organizations: Cannes Lions, Entertainment Locations: Thai
The following excerpt reveals how Amazon attempted to utilize its physical bookstores to bolster Amazon Prime and its other digital subscription services — in sometimes unethical ways. Among them were bookstores, under the name Amazon Books, which first opened to the public in 2015. Prior to the pandemic, store customers could view one of the free trial offers on a screen in front of them. Amazon spokesperson Jordan Deagle told me that there was no corporate mandate to increase sign-ups for free trials of Amazon subscriptions. The e-commerce giant just couldn't break away from its digital DNA, even in a physical store setting.
Persons: Jason Del Rey, Amazon's, Chris Garlock, Garlock, Jordan Deagle, Deagle, Tony Hoggett, Insider's Eugene Kim Organizations: Walmart, Morning, Amazon, Amazon Prime, East Coast, Amazon Books, Tesco, Harper Business, HarperCollins Publishers, Federal Trade Commission, FTC
EA's "FIFA" series is a big revenue driver, but its next soccer video game won't have that branding. CMO David Tinson reveals his plan to drive fans to EA's new soccer franchise EA Sports FC. Electronic Art's marketing muscle is going to have to do some heavy lifting this year to build a new powerhouse brand around its soccer video game series. In 2022, EA and FIFA ended a licensing partnership that lasted nearly three decades and helped make the "FIFA" video game series the most popular sports franchise of all time. This is a key component to making sure fans of the "FIFA" franchise glom onto the new one.
Persons: David Tinson, Andrew Wilson, Tinson, we've, hadn't Organizations: FIFA, EA Sports FC, EA, FC Barcelona's Camp, Manchester United, FC Barcelona, Nike Locations: FC Barcelona's Camp Nou, Real Madrid
WASHINGTON, June 21 (Reuters) - The U.S. State Department on Wednesday announced a new visa restriction policy targeting foreign government officials and agents who assist fugitives in evading the U.S. justice system. "The Department of State is committed to deterring and promoting accountability for extraordinary foreign government involvement in aiding fugitives to evade the U.S. justice system," Blinken said in the statement. The State Department did not immediately reply to questions on whether the new policy was aimed at specific countries or if anyone had yet been targeted under it. "The loss of Fallon to her family and loved ones can never be erased, but this new State Department policy named for this young Portlander killed by a foreign national establishes genuine accountability for any foreign official who assists fugitives fleeing U.S. Reporting by Daphne Psaledakis and Costas Pitas Editing by Leslie Adler and Alistair BellOur Standards: The Thomson Reuters Trust Principles.
Persons: Fallon, Antony Blinken, Smart's, Blinken, Ron Wyden, Michael Ratney, Wyden, Portlander, Daphne Psaledakis, Costas, Leslie Adler, Alistair Bell Organizations: U.S . State Department, Wednesday, of State, Oregonian, The State Department, Oregon, State Department, Department, Thomson Locations: Oregon, United States, Saudi Arabian, Saudi, U.S, Saudi Arabia, America
Kevin Hart on the future of A.I.: Have to embrace new technology
  + stars: | 2023-06-20 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKevin Hart on the future of A.I. : Have to embrace new technologyCNBC's Julia Boorstin sits down with Actor Kevin Hart and Thai Randolph, CEO of Hart's Hartbeat entertainment company, to discuss the future of A.I., the ongoing writers' strike, and more.
Persons: Kevin Hart, Julia Boorstin, Thai Randolph Locations: Thai
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