People with foreign currency to spend are splurging on luxury goods in Turkey, where its currency's recent deep dive has made designer brands including Chanel and Louis Vuitton much more affordable.
Flipkart launched its Supermart online grocery services in Bengaluru earlier this year and reportedly has plans to invest $264 million to expand into new cities over the next few years. The Indian e-commerce company will face rivals Amazon, Big Basket and Grofers in an increasingly competitive sector.
Boon Supply makes it easy to do good in the world. The e-commerce platform for everyday home essentials and decor donates 50% of every purchase to more than 500 causes and works with schools to contribute $12.5 million annually to education programmes. CEO and serial entrepreneur Lily Kanter joins NRF's Retail Gets Real podcast to discuss the "shop-for-good" movement. Listen.
A warmer-than-expected start to the summer gave Home Depot a second-quarter boost, with same-store sales and earnings that beat forecasts. The home-improvement retailer is benefiting from a strong housing market, and it is investing to build out its delivery platform and expand its business serving professional home builders.
Target has named John Bauer as its new senior vice president of global inventory management, effective Aug. 20. Bauer has worked at TJX Cos. since 2012, most recently as logistics chief, and his resume also includes a previous eight-year stint at Target.
Designer Rachel Zoe's first physical store will incorporate her past as a stylist, with staffers trained to help shoppers learn to create their own styles, Zoe said. Zoe will help train employees herself for the Los Angeles store, set to open next month.
Nvidia has announced its new Turing GPU hardware, which can render ray tracing 25 times faster than previous options, thanks to the assistance of advanced AI features. The graphics card will use Samsung's GDDR6 memory, which will allow it to process data faster while conserving energy.
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