Walmart stumbles in Amazon fight, Elon Musk can start digging in DC, and more trending news
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Walmart e-sales growth stumbled during the holiday season, falling by more than half and raising concerns about the retailer's ability to keep pace with e-commerce giant Amazon. Overall sales for Walmart’s fourth quarter were better than expected, $136.3 billion, but online sales only grew 23% — down from a 50% increase in the prior quarter. Despite the slump, Walmart, which bought Jet.com more than a year ago to help it compete in e-sales, expects growth of 40% in online revenue this year. ? Share your thoughts: #WalmartOnline
Elon Musk’s Boring Company got the OK to start digging in Washington, DC. According to The Washington Post, Musk’s latest business received “early and vague” government approval to start work in a DC parking lot; the site could become a station location, the company said. Musk tweeted last summer that the firm received verbal assurances it could build an underground Hyperloop connecting New York, Philadelphia, Baltimore, and Washington, DC. The Boring Company is also seeking approval for a “proof of concept” tunnel in Los Angeles. ? Share your thoughts: #DCHyperloop
The Trump administration is moving to expand “short-term” health plans with cheaper premiums and less comprehensive coverage. Under the HHS proposal, people could purchase “skinny” plans, lasting up to a year, that wouldn’t have to meet all the Affordable Care Act’s requirements — meaning they wouldn’t have to cover benefits such as maternity care or abide by certain consumer protections. The administration says it will lower costs and offer flexibility for healthy Americans; critics say it could drive up costs for sicker people who stay in the ACA’s marketplaces and ultimately mean higher taxes to cover subsidies. ? Share your thoughts: #TrumpCare
Apple is quickly losing Asian market share to Chinese smartphone makers, including Xiaomi, Oppo and Vivo, The Wall Street Journal reports. Quality hardware and special features — along with lower price tags — are helping these companies overtake the US tech giant in the region. Another major reason Apple's pricing is uncompetitive in Asia, the Journal notes: Telecoms in the region don't subsidize the devices like in the US, meaning consumers pay full price up front. ? Share your thoughts: #AppleAsia
Gap is hunting for a new leader of its flagship brand, as CEO Jeff Kirwan steps down amid sliding sales. Kirwan, who joined in 2014, improved the store's ability to test products and quickly restock hot items, says Bloomberg. But comparable sales have still fallen 13 of the past 15 quarters as competition increased and shoppers shifted spending to experiences and technology. ? Share your thoughts: #GapCEO
Idea of the Day: Don’t spend too much time looking backward, advises Angela Ahrendts, Apple’s retail chief — it’s too easy to spiral down a path of “what ifs.” She tells LinkedIn’s Dan Roth:
“I don't want to ever say I wish I would have. I'd rather live in the moment. The older I get, the faster I feel I've gotta go.”
What's your take? Join the conversations on today's stories in the comments.
— Katie Carroll / Share this using #DailyRundown
IT Consultant - PMP. CSM. ACP, Six Sigma, ITIL, Big Data. Hadoop at Sleek Solutions Inc. retired in St Petersburg, FL
6 年First, they should offer Walmart smart phones that are cheap so their customers can order online.
Market Development Manager
6 年Walmart can improve its online sales today with one fowl swoop. Stop having lower in-store prices for items sold online. When customers are searching for products online, don’t try and send them to your store, that will just push them to Amazon. Second swoop would be to actually have rich content written for all their products. The Boring Company has set a high standard for underground transportation. This is quite literally ground breaking. badumcha. The technology for this level of quick intricate tunneling is around the corner now with market drivers. My hope here is that as better technology comes out that is perhaps better than a highspeed sleigh, the tunnel system they create can still be used. Apple losing to Chinese smartphone companies doesn’t surprise me. Back at ecoATM I remember when the newest iPhone would first appear in the machines, days later the equivalent knock-off would show up. All they had to do from there is rebrand.
Corporate Services Manager at RHJ Associates P.C.
6 年Oh no, only 23% growth on top of a quarter that had already grown 50%? Whatever will they do.... I'm more interested in how much of the market share Walmart already has and how that compares to the other companies in the industry who aren't a titan like them or Amazon.
red seal in steamfitting and welding at ua 179
6 年All these nay sayers sit behind the computers with there fancey degrees. Never thinking outside the box just running numbers and casting judgement. This man has changed the world in more ways then anyone could have thought possible. I cant wait for him to show us all "its never just a dream."