In this episode:
- J.Crew partners with Nordstrom
- Walmart cutting accountants
- LoweBots invading Lowes
Quick note: The audio in this episode has some quality issues and will be fixed in future episodes! 🙂
J.Crew partners with Nordstrom
- Second quarter total revenue decline of 4% down to $569.8 million amid what CEO Mickey Drexler called a “challenging traffic environment.”
- Betting on stores to boost its fortunes. The Wall Street Journal reports that J. Crew plans to open 36 new stores this year, including three flagship J. Crew retail locations, 23 factory stores and 10 Madewell stores.
- Will sell an edited assortment of its flagship J.Crew brand at select Nordstrom full-line stores and on Nordstrom.com, beginning September 12.
Walmart cutting accountants
- Walmart will cut some 7,000 accounting and invoicing positions within its U.S. stores
- This could put more workers on the floor helping customers, a potentially more valuable role for Walmart’s current state of competition with Amazon
- The jobs being eliminated involve counting cash or managing invoices for suppliers. Invoicing will be handled by a central office at company headquarters in Arkansas, while money will be counted at each store by a “cash recycler” machine.
LoweBots invading Lowes
- Over the next 7 months Lowe’s will roll out a service robot named LoweBot at 11 stores throughout the San Francisco Bay area
- LoweBot is a NAVii autonomous robot will first appear next month in San Jose
- The aim is to explore how robots can meet the needs of both customers and employees
- This endeavor is the result of a development partnership between Lowe’s Innovation Labs and Silicon Valley’s Fellow Robots
- The partnership began through Singularity University’s SULab program, which connects corporate innovation teams with startups and other organizations pursuing new technologies