Grainger is the highest-ranking e-commerce distributor on Apruve's recent rating report for online industrial distributors. HD Supply, Global Industrial, MSC Industrial Supply and Motion Industries round out the top five.
Sysco posted earnings of $448.93 million on revenue of $15.32 billion in its fiscal fourth quarter, both figures increasing from the year before. Full-year revenue was $58.73 billion, with a profit of $1.43 billion.
Marks & Spencer closed seven of its stores on Saturday as part of its restructuring plan, which includes cutting £350 million in costs. In May, the retailer announced plans to shutter about 100 locations over the next few years.
Tesco has begun selling CanO Water in aluminum cans at 700 of its UK stores as part of its ongoing plan to cut down on plastic waste. The retailer, which has become as the first major grocer to carry and sell cans of water, aims to eliminate "hard-to-recycle" packaging from its private-label brand by the end of next year.
With US retail sales growing faster than expected thanks to tax reform and other economic factors, NRF has increased its forecast for 2018 but is sending a warning that tariffs threaten to dampen consumer confidence. NRF now expects sales to grow a minimum of 4.5% over 2017 rather than the 3.8% to 4.4% forecast earlier this year. Read more.
VF Corp. will spin off its Wrangler, Lee, Rock & Republic and Rustler denim brands into a separate company, which will also include its 80 VF outlet stores, the company said. VF has seen demand for the brands dip amid shifting trends that have spurred sales of premium jeans and yoga pants.
Retailers fared better than expected in the first half of the year amid higher consumer confidence and low unemployment, prompting NRF to raise its forecast for 2018, NRF President and CEO Matthew Shay said. The forecast now calls for sales growth of at least 4.5% this year, up from an earlier prediction of between 3.8% and 4.4%.
Amazon's search for a second headquarters reflects the need for fast-growing tech companies to grow into markets where they'll be able to find talented tech workers. The need is also reflected in the expansion of Amazon's network of tech hubs to cities around the world.
Walmart wins over more customers from pet-owning homes than other national retailers, according to a report from Packaged Facts. Walmart's perceived advantages in pricing along with convenience and available brands helped it win over pet owners, according to the report.
Macy's will unveil an off-price Backstage shop in its store at Minnesota's Mall of America on Saturday. The 11,600-square-foot in-store shop will open on the department store's third floor, near a Nordstrom Rack store.
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