Papa John's founder 'isn't going quietly,' lawyer says — Schnatter just dragged Kanye West into fight with the board
- Schnatter doubled down on claims he made during a television interview Friday in which he said media consultant Laundry Service tried to blackmail the pizza chain for $6 million to keep quiet about a May conference call in which he admitted to using the N-word.
- Glaser, Schnatter's lawyer, warned the board in a separate letter sent Sunday against removing him from the board after several directors questioned whether he should give up his seat, she said.
- Papa John's announced late Sunday that Schnatter was prohibited from speaking to the press, was being removed from the company's advertising materials and that a special committee of independent directors revoked his office space at its Louisville, Kentucky, headquarters.
- Schnatter reiterated his side of events in the letter, stating that Laundry Service was brought in to conduct a "diversity media training" session ahead of a conference he was attending.
O’DANG Hummus™, Maker of Premium Hummus and Hummus Dressings, Brings Lin...
- O’DANG Hummus, maker of premium hummus and hummus dressings, today announced that its line of hummus dressings are now available nationwide at Kroger and its family of stores.
- O’DANG Hummus dressings have an expanding retail presence with Kroger and other national retail partners.
- News of additional national retailers to carry O’DANG Hummus dressings will follow this year.
- O’DANG Hummus is a KEEN Growth Capital portfolio company.
- KEEN Growth Capital is a venture fund that invests in and develops early-stage food and wellness companies with meaningful social impact.
- O’DANG Hummus believes in “Hummus for All™.” O’DANG Hummus brings innovation to hummus products by making premium hummus and hummus dressings that are adventurous and delicious, blending Mediterranean heritage with beloved, relatable American flavors.
- KEEN Growth Capital invests in early stage food-related companies that generate meaningful social impact in addition to above market financial returns.
Amazon says US Prime Day sales 'so far bigger than ever' as glitch is resolved
- Amazon's website suffered a massive glitch during the worst time possible: the start of Prime Day, its largest shopping event of the year.
- In the early hours of deals, the average Prime Day discount on Amazon was about 38 percent off, according to a Monday survey by Market Track of about 75 deals on the website.
- CNBC had previously reported on both Amazon's in-house brands and fashion department making a big push ahead of Prime Day. A glitch on Amazon's website Monday afternoon gave rival retailers touting their own deals online the chance to make a bigger splash and potentially steal frustrated shoppers.
- Amazon shares were falling slightly Tuesday morning, having hit an all-time intraday high Monday afternoon ahead of the kick off to Prime Day. The event was expected to be a significant positive driver for the company’s stock price.
Best Buy is reconsidering its partnership with Vivint
- Electronics retailer Best Buy is re-evaluating its partnership with smart home company Vivint, reports Bloomberg.
- The partnership between Best Buy and Vivint involved bringing knowledgeable smart home employees into Best Buy retail locations to assist customers in evaluating needs and to facilitate installation.
- Vivint employees took to the sales floor in about 400 Best Buy stores to offer advice on what sorts of hardware and services a customer exploring the smart home might need.
- Offering smart home hardware in a major electronics retailer also gave consumers the chance to see devices in person, and likely helped expose less tech-savvy shoppers — who might not seek out such products online — to the breadth of smart home offerings.
- Moreover, shoppers might be looking to purchase smart home devices — Business Insider Intelligence forecasts that the total US installed base for these products will rise to nearly 1.1 billion by 2023 — but want to buy them a la carte.
Instacart CEO Apoorva Mehta will speak at Recode’s Code Commerce event
- A year ago, Instacart’s future looked shaky after Amazon shocked the retail world with its agreement to acquire Whole Foods — the startup’s biggest grocery partner at the time.
- But in the past year, Instacart has followed through on a plan to diversity its grocery-delivery business, inking pacts with industry giants such as Kroger and Albertsons, and expanding the company’s deals with Costco and CVS.
- So we’re thrilled to discuss that topic, plus how the company plans to navigate the often tumultuous relationship with its frontline workforce, and much more with CEO Apoorva Mehta onstage at Code Commerce in New York City, which takes place on September 17 and 18.
- Mehta will join Shopify CEO Tobi Lutke, Instagram product boss Vishal Shah, and other soon-to-be announced industry leaders onstage at Code Commerce, Recode’s forum on the technologies and innovations that are transforming retail.
Microsoft and Walmart team up to take on Amazon
- Microsoft and Walmart are teaming up for a strategic partnership that will take on rival Amazon in both technology and retail.
- Walmart is announcing today, at Microsoft’s Inspire partner conference, that it’s partnering with Microsoft to use the company’s cloud services.
- While the tech partnership will obviously benefit both companies, it also comes just weeks after reports suggested Microsoft is working on rival Amazon Go technology for cashier-free stores.
- Both Walmart and Microsoft don’t reference too many of the future-facing parts of this strategic deal, and it’s mostly timed for Microsoft’s big partner conference in Las Vegas this week.
- However, this new deal could be a unique test ground for Microsoft’s bigger AI ambitions and any future plans it has to push other retailers to use its range of cloud services.
Walmart and Microsoft Join Forces in Battle Against Amazon
- At first glance, Walmart’s announcement today that it has signed a five-year agreement with Microsoft seems like it’s just a major step towards boosting its lagging online growth.
- The agreement gives Walmart (wmt) access to Microsoft’s 365 and Azure cloud computing systems across all its lines of business, migrating some of its apps and websites to Azure.
- In an interview with the Wall Street Journal, Microsoft CEO Satya Nadella said the companies’ shared rivalry with Amazon “is absolutely core to this.” While Walmart is interested in cashierless checkout systems, it is pursuing its own solutions rather than using Microsoft’s technology.
- Walmart is already fighting Amazon in India, where the Bentonville retailer announced it was acquiring domestic e-commerce success story Flipkart for $16 billion in May. In its battle against Amazon, Walmart has also collaborated with Google to sell its products.
Amazon's 2 most powerful rivals just decided to team up
- The five-year agreement will leverage the full range of Microsoft's cloud solutions, including Microsoft Azure and Microsoft 365, to make shopping faster and easier for customers, the Bentonville Arkansas-based company said.
- As part of the partnership, Walmart and Microsoft engineers will collaborate to migrate a significant portion of walmart.com and samsclub.com to Azure, Walmart added.
- While Walmart is doubling down on its e-commerce presence to better compete with Amazon, Microsoft has been working on a technology that would eliminate cashiers and checkout lines from stores, Reuters reported last month.
- The Windows software maker has also shown the sample technology to retailers from around the world and has had talks with Walmart about a potential collaboration, Reuters reported.
- Through the partnership, Walmart plans to defend itself from Amazon's retail ambitions and expertise in data, and boost its online presence.
Walmart and Microsoft link up on cloud technology as they both battle Amazon
- Retail giant Walmart signed a deal to use Microsoft's cloud and artificial intelligence technology on Tuesday, deepening a strategic partnership between two of Amazon’s major rivals.
- The five-year agreement is designed to leverage the full range of Microsoft’s cloud solutions in order to make shopping quicker and easier for customers, Walmart said.
- The agreement pairs Amazon’s largest retail rival with its closest challenger in cloud computing.
- It is also the latest sign of Walmart’s willingness to double down on its e-commerce presence, while Microsoft has reportedly been working on a technology that could eliminate cashiers and checkout lines from stores.
- The Bentonville Arkansas-based company plans to boost its online presence and defend itself from Amazon’s rapidly growing retail ambitions.
- Through the partnership, Walmart and Microsoft engineers will work together to migrate a significant portion of Walmart.com and samsclub.com to Microsoft’s Azure, Walmart said.
Oldest building on Bourke St sells for $40m, bought for $400,000
- The oldest building on Melbourne's Bourke Street Mall, held by the same family interests for six decades, has been sold to an offshore private investor for well above $40 million.
- The historic retail property, now surrounded by the bustle of Bourke Street Mall, was sold on a yield below 4 per cent.
- Mr Stagg said retail rents in the Bourke Street Mall had hit $10,000 to $12,000 per square metre net.
- The Bourke Street building that had been the long-time home of jewellers Kozminsky sold last year for $7.6 million.
- That property at 220 Bourke Street eventually sold for $15.205 million on a yield just below 3 per cent.