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Tag: billion

Walmart Canada Will Invest $3.5 Billion To Modernize Stores, DCs And Supply Chain

Walmart Canada is planning a $3.5 billion (Canadian) investment over the next five years that will impact every aspect of its business. The equivalent in U.S. dollars is $2.58 billion. At the store level, the funds will go toward: Renovations to nearly one-third of its locations; Expansion of curbside pickup; Piloting “micro fulfillment centers” within …

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U.S. may need another 1 billion square feet of warehouse space by 2025

With online sales proliferating during the coronavirus pandemic, the U.S. is going to need more warehouses to store hoards of boxes and handle those orders.  Holed up at home, and with many bricks-and-mortar stores temporarily shut, shoppers have turned to their computers and smartphones to buy everything from fresh groceries to new home furnishings to …

U.S. may need another 1 billion square feet of warehouse space by 2025Read More

Jeff Bezos’s wealth soars to $171.6 billion to top pre-divorce record, Retail News, ET Retail

By :Berber Jin and Jack Witzig Jeff Bezos’s net worth has smashed through its previous peak, even after he relinquished a quarter of his stake in Amazon.com Inc. as part of a divorce settlement last year. Shares of the Seattle-based retailer surged 4.4% to a record $2,878.70 Wednesday, boosting the founder’s world-leading fortune to $171.6 …

Jeff Bezos’s wealth soars to $171.6 billion to top pre-divorce record, Retail News, ET RetailRead More

Resale market expected to be valued at $64 billion in 5 years

A ThredUp warehouse. Source: ThredUp Despite the coronavirus pandemic upending much of the retail industry and putting a damper on apparel sales, the secondhand clothing market is expected to boom, according to one online resale marketplace.  The secondhand apparel market is valued at about $28 billion today and is forecast to reach $64 billion within …

Resale market expected to be valued at $64 billion in 5 yearsRead More

Bigbasket hits annualised gross sale runrate of $1 billion, Retail News, ET Retail

BENGALURU: Online grocer Bigbasket has crossed an annualised gross sale runrate of $1 billion for the first time in May, riding on strong consumer demand for grocery and essentials due to the Covid-19 pandemic. The Bengaluru-based company will become the second sector-focused online retailer after fashion portal Myntra, and horizontal e-tailers like Flipkart and Amazon …

Bigbasket hits annualised gross sale runrate of $1 billion, Retail News, ET RetailRead More

The ‘consumerization of healthcare’ is a $600 billion opportunity for these stocks, UBS says

Shoppers wait in line at the pharmacy of a Walmart store in Charlotte, North Carolina, Sept. 13, 2018. Callaghan O’Hare | Bloomberg | Getty Images (This story is for CNBC Pro subscribers only).  The “consumerization of healthcare” will continue to grow after the pandemic, and it could benefit both high-tech companies and stodgy retailers, according …

The ‘consumerization of healthcare’ is a $600 billion opportunity for these stocks, UBS saysRead More

Toast, $5 billion start-up, reeling from coronavirus restaurant impact

A sign hangs on the door of a shuttered restaurant in the Chicago Loop on March 19, 2020 in Chicago, Illinois. Scott Olson | Getty Images When the calendar turned to 2020, Toast was one of the hottest names in technology. Shares of the privately held company, which makes software for restaurants, were in high …

Toast, $5 billion start-up, reeling from coronavirus restaurant impactRead More

Yum Brands suspends $2 billion buyback program amid coronavirus crisis

Yum Brands CEO David Gibbs said Wednesday the company’s decision to suspend its $2 billion share buyback program allows it to better support employees and franchisees during the COVID-19 pandemic.  “We can do things like we just did in the United States, which is provide a grace period for our franchisees on their royalties or suspend capital investments for …

Yum Brands suspends $2 billion buyback program amid coronavirus crisisRead More

Restaurant industry asks for $145 billion recovery fund from the government

Patrons eat at Tom’s Restaurant in the Prospect Heights neighborhood of Brooklyn on March 16, 2020 in New York City. Victor J. Blue | Getty Images The National Restaurant Association is asking the federal government for financial relief for the industry as it forecasts sales declines of $225 billion over the next three months due …

Restaurant industry asks for $145 billion recovery fund from the governmentRead More

McDonald’s suspended its $15 billion buyback program several weeks ago

McDonald’s CEO Chris Kempczinski said Friday that the company suspended its buyback program several weeks ago. “Really, for us, we just wanted to maintain maximum flexibility as we went into this crisis and be as nimble as we needed to,” Kempczinski told CNBC’s Carl Quintanilla on “Closing Bell.”  In 2019, the fast-food giant spent $5 …

McDonald’s suspended its $15 billion buyback program several weeks agoRead More