Even taking the company’s Q4 e-commerce slowdown into account, there’s no doubt that Walmart’s online business got a shot in the arm with its Jet.com acquisition in 2016. The big-box retailer has been on a quest to change its perception from a physical store chain of today to a digital retailer fit for tomorrow. And the gains it’s made toward that goal are largely due to Marc Lore, who headed up Jet and now spearheads Walmart’s U.S. e-commerce business. So, talk that he could be antsy in Bentonville is big news. The New York Post reported Wednesday that their sources say Lore isn’t likely to be a lifer at Walmart. While that speculation makes a good headline, the evidence that it’s the case—and could prompt a departure anytime soon—seems pretty thin at this point. The Post noted that the e-commerce CEO wasn’t mentioned in the company’s earnings call this week when it announced that online sales, which had … [Read more...] about Can Walmart.com Survive Without Marc Lore—And Will it Have to?
Pure-play online retailer Kogan.com has added health insurance to its portfolio. The company founded by Ruslan Kogan has a suite of retail and services business units including Kogan Retail, Kogan Marketplace, Kogan Mobile, Kogan Internet, Kogan Insurance, Kogan Health and Kogan Travel. “Our health is the most important thing we have,” says Kogan.com executive director, David Shafer. “Our aim is to offer these policies to Kogan.com’s community of 8 million Aussies to help them sleep soundly at night, knowing their health is protected, without paying too much.” Kogan.com reported record-breaking Christmas sales, according to preliminary numbers. The company produced a net operating cash flow of $4.2 million for the December quarter. At the end of December, Kogan.com had cash of $28.2 million, and access to a $10 million bank facility. Details on the Christmas sales will be released when Kogan.com announces half-year results this month. In August, the … [Read more...] about Kogan.com is now selling health insurance
CEO David Jou has hailed Pomelo Fashion as a new type of fashion brand promising to “make fashion fun again” and the start-up is set to shake up the Asian market by offering an omnichannel experience with investment from big names like JD.com.“We’re a vertically-integrated, digital fast fashion brand: we do everything from design, material sourcing and trend research CEO David Jou has hailed Pomelo Fashion as a new type of fashion… Global port operator, DP World and India’s NIIF have established a platform to invest in ports, terminals, transportation and logistics businesses in India.The platform will invest up to $3bn of equity to acquire assets and develop projects in the sector.The partnership follows the Memorandum of Understanding (MoU) signed in May 2017 and the visit to India of Global port operator, DP World and India’s NIIF have established a… Hong Kong sourcing group Li & Fung is selling off three of its business … [Read more...] about JD.com raises $2.5bn in financing for logistics arm JD Logistics
REA Group Limited, the owner of realestate.com.au, posted a 21% rise in operating profit to $147.3 million for the half year to December, driven by strong property listings in the Melbourne and Sydney markets. The result was also improved due to the inclusion of financial services revenue from home loans for the first time. Statutory profit was down 55% to $132.36 million when compared to last year. However, last year included $161.6 million from the sale of REA’s Europe business. A short time ago, REA shares were up 0.7% to $72.05. Total residential listings were marginally down but the number of properties grew in the key markets of Melbourne and Sydney. “Our growth is underpinned by the strength of our core Australian business,” says CEO Tracey Fellows. “We expect to see normal seasonality of revenue in Australia, which traditionally results in higher The company declared a dividend of 47 cents a share, up 18%. The half year results at a glance: … [Read more...] about realestate.com.au just smashed its profit thanks to Sydney and Melbourne property markets
JD.com, China’s largest retailer by revenue, is opening a local business office in Australia. The Australia and New Zealand regional headquarters of the NASDAQ-listed company will be in Melbourne’s Collins Street. “Our customers are demanding more and more high-quality products from Australia and New Zealand, and this move is a major step toward meeting that demand,” says Richard Liu, JD.com’s chairman and CEO. “Brands and retailers looking for a trusted partner who will both build their brand, and protect their IP in China now have an easy point of contact in the region.” JD.com, a rival to e-commerce giant Alibaba, says the Australian products in strong demand on JD.com include food, dairy and cosmetics. The company says it is open to brands, franchisees, retailers and traders looking to reach consumers in China. … [Read more...] about China’s largest retailer, JD.com, is opening in Australia