Although there are significant operational differences between startup companies and large corporations, they both look to innovate at scale. At NRF 2018: Retail's Big Show, Walmart Senior Vice President of Next Generation Retail Lori Flees and Bain Capital Ventures Managing Director Scott Friend discussed their strategies. Read the STORES Magazine recap.
Andeavor received a tax benefit of $918 million in the most recent quarter ended Dec. 31, with a total profit of $879 million.
MRC Global increased sales by 25.6% from a year earlier, marking the third consecutive quarter of a year-over-year sales gain of more than 20%. The company made a profit of $35 million on $903 million in total sales after posting a loss a year earlier.
Distributors will have to adapt to an on-demand mindset just as consumer brands have, writes Bridget McCrea. Distributors can experiment in a number of ways, including using independent contractors for same-day deliveries and charging an annual fee for customers who want the option of immediate service.
Customization has been labeled by Mintel as one of the top beauty trends to watch this year. Startups including Prose and Function of Beauty are winning venture capital funding with customized products, and established brands such as CoverGirl and Lancome are starting to embrace the trend.
Toy makers including Mattel and Hasbro are taking lessons from fast fashion as they work to cater to fast-changing trends. The companies are watching social media and videos for trends that go viral and rushing to get their products into stores as quickly as possible.
J.M. Smucker is recalling certain lots of Gravy Train, Kibbles 'N Bits, Ol' Roy and Skippy canned food for dogs after low levels of pentobarbital were found in some cans of Gravy Train. The FDA said the levels of the drug found in the samples the agency tested were unlikely to harm pets, but any detectable amount of pentobarbital in pet food violates the Federal Food, Drug, and Cosmetic Act.
National organizations track pet supplies, but pet owners should pay attention to hazards in the products they purchase. For example, the FDA reported a rawhide recall in 2017 from the United Pet Group after discovering a quaternary ammonium compound in some of its rawhide chews.
Grocery Pup's line of food includes human-grade ingredients for its Bitchin' Beef Stew, Porky's Luau and Turkey Pawella varieties. "It's an all-natural, safer way to feed your dog so they can live the longest and happiest lives possible," co-founder Ruth Stedman said.