Today In Retail: Home Depot’s Sales Surge 25.1 Pct; Walgreens Expands On-Demand Delivery Services
In today’s top retail news, Home Depot reported that its fourth-quarter revenue surged 25.1 percent, while Walgreens is growing its on-demand delivery offerings with Instacart. Plus, three-month-old California startup Finesse is taking on the fashion sector.
Home Depot reported on Tuesday (Feb. 23) that its fourth-quarter revenue increased 25.1 percent, topping off a blockbuster year of sales and earnings. As for its overall results, Home Depot had $2.65 in diluted earnings per share on $32.3 billion in sales. The results came out ahead of analyst estimates of earnings per share of $2.62 on revenues of $30.73 billion.
Walgreens is expanding on-demand delivery offerings with Instacart to Illinois residents. The pharmacy retailer intends to roll out the service across the nation to nearly 8,000 retail locations in the weeks to come. Shoppers can now receive many Walgreens favorites like over-the-counter medicines, household essentials and convenience products in as soon as an hour.
Three-month-old California upstart Finesse.us is harnessing data analysis, 3D imaging and artificial intelligence (AI) to take on the traditional fashion sector. Finesse.us is the creation of Chief Executive Ramin Ahmari, who characterizes his firm as “Fashion 3.0” or “Zara meets Netflix,” since it gets rid of the traditional catwalk and glamour magazine shoots and supplants them with actual client feedback and data in a much more environmentally sustainable fashion.
The announced merger of Goodyear and Cooper Tire is set to not only bolster rivalry with foreign and domestic competitors, but to also raise the bar in the profitable aftermarket retail services industry. The two U.S.-based manufacturers said the combined firm would have almost 60 factories with more than 70,000 staffers and 2,500 service centers and do over $17 billion in yearly sales.