Satya Nadella credits Ballmer for pushing Microsoft to cloud: Cramer

Satya Nadella credits Ballmer for pushing Microsoft to cloud: Cramer

Microsoft’s stock price has more than quadrupled since Satya Nadella took over as CEO six years ago, thanks to the company’s rapid growth in cloud computing.  But Nadella credits his predecessor, the louder and more outspoken Steve Ballmer, for making the decision to take on Amazon Web Services in cloud infrastructure, where Microsoft is now the … Read more…

Gap shares jump on announcement it will not spin off Old Navy

Gap shares jump on announcement it will not spin off Old Navy

Pedestrians pass in front of a GAP store in New York. Scott Mlyn | CNBC Gap Inc. has called off plans to split Old Navy into a separate public company, the company announced in a press release Thursday. The apparel maker also announced that Neil Fiske, president and CEO of the Gap brand, is departing. … Read more…

Sears, Walgreens among retailers that closed stores in 2019

Sears, Walgreens among retailers that closed stores in 2019

Micah Young | E+ | Getty Images 2019 has been a record year for store closures in retail. In the U.S., retailers this year have announced plans to shut more than 9,300 locations. That’s up more than 50% from the total announced closures in 2018, which amounted to 5,844, Coresight said. Previously, the record was … Read more…

How Amazon changed America's malls in the 2010s

How Amazon changed America’s malls in the 2010s

Shoppers walk through the food court at the Easton Town Center Mall in Columbus, Ohio. Luke Sharrett | Bloomberg | Getty Images These days, in the country’s most upscale malls, it seems like shoppers are doing everything but perusing apparel. Consumers can play glow-in-the-dark mini golf at Simon Property Group’s Roosevelt Field in Garden City, … Read more…

Imran Khan's Verishop teams up with a US mall owner to open stores

Imran Khan’s Verishop teams up with a US mall owner to open stores

Verishop, a shopping website and brand incubator launched earlier this year by former Snap exec Imran Khan and his wife, has struck a deal with U.S. mall owner Unibail-Rodamco-Westfield to open 14 stores through next year. That will include a mix of pop-up shops and permanent locations, the companies said. Verishop’s first space, for its … Read more…

Old Navy taps Postmates for same-day deliveries of holiday gifts

Old Navy taps Postmates for same-day deliveries of holiday gifts

Old Navy is working with Postmates this holiday season so that shoppers can have their online orders brought to their doorsteps in a pinch. The retailer, owned by Gap, has been offering same-day “buy online, pick up in stores” since last year. Now, when customers select that option at checkout, they can tap a Postmates … Read more…

Tectonic shift in retail shakes up how stores hire seasonal workers

Tectonic shift in retail shakes up how stores hire seasonal workers

With consumer preferences shifting, holiday hiring needs have also changed, with more emphasis on speed and e-commerce. Big retailers are set to hire some 790,000 seasonal workers this year, marking the second year of major growth after several years of stagnation, according to data from outsourcing firm Challenger, Gray and Christmas and CNBC. The process … Read more…

Rent the Runway partners with W Hotels so you can pack lighter

Rent the Runway partners with W Hotels so you can pack lighter

Jennifer Hyman, co-founder and chief executive officer of Rent The Runway Inc., speaks during a Bloomberg Television interview in New York, U.S., on Friday, March 22, 2019. Bloomberg | Bloomberg | Getty Images Rent the Runway is hoping to make packing for your vacation a little less painless. The clothing and accessories rental service has … Read more…

Cyber Monday shoppers on track to hit a record $9.4 billion, Adobe says

Cyber Monday shoppers on track to hit a record $9.4 billion, Adobe says

Big tech platforms have consumer data histories to inform advertising strategies, but lack of personalization in ads is still a big problem for the e-commerce industry. VIEW press | Corbis News | Getty Images Holiday shoppers aren’t headed to the store today. But they’re still spending. Cyber Monday shoppers have already spent $473 million in … Read more…

Target and Walmart top the list of Wall Street analysts' Black Friday winners

Target and Walmart top the list of Wall Street analysts’ Black Friday winners

An employee places price tags on Black Friday sale items displayed for the media at a Wal-Mart Stores Inc. location in Burbank, California, U.S., on Thursday, Nov. 16, 2017. Patrick T. Fallon | Bloomberg | Getty Images Walmart and Target bucked the overall trend of a calmer Black Friday, as the big box retailers saw … Read more…