Strong online sales and demand from Chinese shoppers and students heading back to school are expected to have helped Nike swing back to a profit in the first quarter from the surprise loss it posted in July.
Amazon.com Inc plans mass layoffs at its money-losing parenting products subsidiary Quidsi as part of a business restructuring, the company said in a document filed with the state of New Jersey on Wednesday.
Amazon could be about to launch an own-brand fashion label in the UK as it targets explosive growth in the $3trn international fashion sector. A launch could happen as early as this spring, according to reports.
In a deal valued at $70 million, Jet, now owned by Walmart, has acquired ShoeBuy from IAC. The move is likely part of Walmart's effort to compete against Amazon, specifically its online shoe store Zappos.
The online shopping destination and the award-winning airline have launched the red, patent leather Virgin America Pump. A portion of the proceeds from the sale will go to the American Heart Association.