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Online Competition

All articles tagged with #online competition

business1 year ago•10 min saved

Advance Auto Parts to Close Over 700 Stores Amid Industry Shifts

The auto parts retail landscape is shifting as over 700 Advance Auto Parts stores are set to close, highlighting the challenges faced by brick-and-mortar stores in the online era. While DIY customers contribute to sales, the bulk of revenue comes from selling to repair shops and fleets. The industry is highly competitive with thin margins, and online retailers add pressure. Successful stores focus on inventory, quick delivery, and customer service to compete. Advance Auto Parts' acquisition of CarQuest aimed to boost wholesale sales but may have strained their finances.

via The Autopian|

#advance-auto-parts #auto-parts #business

business1 year ago•5 min saved

Advance Auto Parts to Close Over 700 Stores Nationwide Amid Financial Struggles

Advance Auto Parts is closing over 700 locations, including 523 corporate stores and 204 independent locations, as part of a restructuring plan to improve financial performance. The company has been struggling with losses, reporting a significant drop in earnings per share. Factors contributing to these challenges include a shift towards online shopping for auto parts, supply chain issues, and previous capital expenditures. The sale of its WorldPac subsidiary to Carlyle Group for $1.5 billion offers a potential lifeline, but the closures will result in job losses and impact local access to auto parts.

via The Autopian|

#advance-auto-parts #automotive-industry #business

business2 years ago•0 min saved

Investor Group's $5.8 Billion Buyout Bid Targets Macy's

An investor group, consisting of Arkhouse Management and Brigade Capital Management, has made a $5.8 billion offer to buy Macy's, aiming to take the struggling department-store chain private due to intense competition from online retailers. The proposal, submitted on December 1, suggests acquiring the remaining Macy's stock for $21 per share.

via The Wall Street Journal|

#business #buyout-bid #investor-group

technology2 years ago•4 min saved

Elon Musk's Twitter Implements Link Restrictions on Media Outlets

Elon Musk's company, formerly known as Twitter and now called X, has been deliberately slowing down access to websites such as the New York Times, Facebook, and other news organizations and online competitors. Users who clicked on links to these targeted websites experienced delays of about five seconds before being able to view the page. The affected websites include Facebook, Instagram, Bluesky, Substack, Reuters, and the New York Times, all of which have been previously criticized or attacked by Musk. The delays are being implemented through X's link-shortening service, t.co, potentially diverting traffic and ad revenue from businesses Musk dislikes. The reasons behind the delays are unclear, and Musk has not responded to requests for comment.

via The Washington Post|

#elon-musk #online-competition #social-media

business2 years ago•5 min saved

Bed Bath & Beyond to close all stores after filing for bankruptcy protection.

Bed Bath & Beyond has filed for bankruptcy protection and anticipates closing all of its stores by June 30. The company has struggled with weak sales and numerous failed turnaround plans, as well as lagging behind in online strategy and competition from other retailers. The bankruptcy filing comes after the company failed to secure funds to stay afloat. The store closings will put thousands of jobs at risk. The company employed 14,000 workers, according to the court filing.

via Chicago Tribune|

#bankruptcy #bed-bath-and-beyond #business