In today’s top retail news, Peloton has been subpoenaed by the federal government over its handling of dozens of reported injuries caused by treadmills, and PYMNTS data show that Amazon has held onto its front-runner status over Walmart for the third quarter in a row, though neither company gained or lost much ground. Also, Gap has acquired eCommerce startup Drapr to help remove the friction of finding the right fit online.
Peloton Subpoenaed By DOJ, DHS Over Reporting Of Treadmill Injuries
Connected fitness giant Peloton has been subpoenaed by the U.S. Department of Justice and Department of Homeland Security for documents and information related to how the company reported injuries caused by its treadmills. The matter is also being investigated by the Consumer Product Safety Commission over the injuries, and the Securities and Exchange Commission is looking into public disclosures made on the subject.
AMZN vs. WMT Weekly: Retail Giants Remain In Dead Heat For Top Spot
So far, projections that Amazon was going to pull away from rival Walmart and never look back have proven to be premature, as the big-box retailer’s investment in omnichannel capabilities has kept it in the race, with the two essentially tied — at least for now. Between the two retail titans, the share of consumer retail spending remained relatively unchanged between April and July, with Walmart gaining nothing and Amazon losing only one-tenth of a percentage point.
Gap Tackles ‘Fit Friction’ With Acquisition Of Virtual Try-On Company Drapr
Gap Inc. has acquired eCommerce startup Drapr as part of the company’s increasing focus on digital sales, an initiative that helped boost the San Francisco-based apparel retailer to its best second-quarter sales in over a decade. Drapr allows customers to create 3-D avatars and virtually try on clothing to help find the best clothing size and fit for their style and body type.
Allbirds Unveils Atlanta Shoe And Apparel Store
Footwear and apparel retailer Allbirds has opened its 30th global location in Atlanta’s Ponce City Market. The 3,000-square-foot outpost includes a retail store and community center, and joins other locations across North America, Asia and Europe.
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NEW PYMNTS DATA: 58 PERCENT OF MULTINATIONAL FIRMS ARE USING CRYPTOCURRENCY
About: In spite of their price volatility and regulatory uncertainty, new PYMNTS research shows that 58 percent of multinational firms are already using at least one form of cryptocurrency — especially when moving funds across borders. The new Cryptocurrency, Blockchain and Global Business survey, a PYMNTS and Circle collaboration, polls 500 executives looks at the potential and the pitfalls facing crypto as it moves into the financial mainstream.
In in the present day’s prime retail information, Peloton has been subpoenaed by the federal authorities over its dealing with of dozens of reported accidents attributable to treadmills, and PYMNTS information present that Amazon has held onto its front-runner standing over Walmart for the third quarter in a row, although neither firm gained or misplaced a lot floor. Additionally, Hole has acquired eCommerce startup Drapr to assist take away the friction of discovering the proper match on-line.
Peloton Subpoenaed By DOJ, DHS Over Reporting Of Treadmill Accidents
Linked health big Peloton has been subpoenaed by the U.S. Division of Justice and Division of Homeland Safety for paperwork and data associated to how the corporate reported accidents attributable to its treadmills. The matter can be being investigated by the Shopper Product Security Fee over the accidents, and the Securities and Change Fee is trying into public disclosures made on the topic.
AMZN vs. WMT Weekly: Retail Giants Stay In Lifeless Warmth For Prime Spot
To date, projections that Amazon was going to tug away from rival Walmart and by no means look again have confirmed to be untimely, because the big-box retailer’s funding in omnichannel capabilities has stored it within the race, with the 2 basically tied — at the least for now. Between the 2 retail titans, the share of client retail spending remained comparatively unchanged between April and July, with Walmart gaining nothing and Amazon shedding solely one-tenth of a share level.
Hole Tackles ‘Match Friction’ With Acquisition Of Digital Strive-On Firm Drapr
Hole Inc. has acquired eCommerce startup Drapr as a part of the corporate’s growing deal with digital gross sales, an initiative that helped increase the San Francisco-based attire retailer to its finest second-quarter gross sales in over a decade. Drapr permits prospects to create 3-D avatars and just about attempt on clothes to assist discover the most effective clothes dimension and match for his or her model and physique kind.
Allbirds Unveils Atlanta Shoe And Attire Retailer
Footwear and attire retailer Allbirds has opened its thirtieth international location in Atlanta’s Ponce Metropolis Market. The three,000-square-foot outpost features a retail retailer and neighborhood heart, and joins different places throughout North America, Asia and Europe.
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NEW PYMNTS DATA: 58 PERCENT OF MULTINATIONAL FIRMS ARE USING CRYPTOCURRENCY
About: Regardless of their value volatility and regulatory uncertainty, new PYMNTS analysis exhibits that 58 p.c of multinational companies are already utilizing at the least one type of cryptocurrency — particularly when transferring funds throughout borders. The brand new Cryptocurrency, Blockchain and World Enterprise survey, a PYMNTS and Circle collaboration, polls 500 executives appears on the potential and the pitfalls dealing with crypto because it strikes into the monetary mainstream.
