Walmart Inc. finally gave the U.S. retail sector some good news. The company brushed off the industry’s disappointing December sales with its best holiday quarter in at least a decade, soothing concerns about the sector’s outlook for 2019. Comparable sales for Walmart stores in the United States — a key performance barometer — rose 4.2% in the quarter that included Christmas, beating analysts’ estimates by a full percentage point.
February 19, 2019GovernmentBusinessLogisticsTop 50
XPO’s Brad Jacobs Hits Brakes on M&As
After building a fortune and several businesses by buying company after company, XPO Logistics Inc. CEO Brad Jacobs is abandoning acquisitions, a principal reason many investors bought into the stock.
February 19, 2019GovernmentBusinessLogisticsTop 50TCA
XPO Denies Memphis Plant Closing Is Retaliation
XPO Logistics Inc. confirmed Feb. 14 that it will close a facility in Memphis, Tenn., where some employees have made allegations of pregnancy discrimination and sexual harassment, and the next day CEO Brad Jacobs said a customer's request prompted the decision.
February 19, 2019BusinessLogisticsTop 50
Montreal Firm FLS Transportation Services Acquires Scott Logistics
FLS Transportation Services, a Montreal-based 3PL, has announced the acquisition of Scott Logistics Corp., a freight broker headquartered in Georgia.
February 15, 2019BusinessLogisticsTop 100
George Soros Cuts Stake in Agriculture Giant ADM
Billionaire George Soros has cut his holdings in agriculture giant Archer Daniels Midland Co. by more than half as the company contends with sluggish commodity markets amid the U.S.-China trade war.
February 15, 2019BusinessLogisticsTop 100
Pepsi Soothes Investors With Sales Growth, Plans for Payouts
PepsiCo Inc. rose in early trading as investors brushed off a lower profit forecast, instead focusing on sales growth in snacks and North American beverages and the company’s plans to return about $8 billion to shareholders this year.
February 15, 2019BusinessLogisticsTop 50Top 100
XPO Logistics Reports Disappointing Earnings
XPO Logistics reported disappointing earnings for the fourth quarter of 2018 and lowered its guidance for 2019 due, in large part, to a sharp drop-off in shipments from its largest customer — believed to be Amazon.com.
February 14, 2019BusinessTechnologyLogisticsAutonomous
Nuro Raises Nearly $1 Billion From SoftBank Vision Fund
Nuro, a robotics company specializing in automating local commerce deliveries, has secured $940 million in funding from the SoftBank Vision Fund, according to a Feb. 11 press release.
February 14, 2019GovernmentBusinessLogistics
Amazon Ditches Plans for New York Headquarters
Amazon.com is pulling out of a plan to build a headquarters in New York City, after a backlash from some residents and politicians, the e-commerce giant said.
February 14, 2019BusinessLogisticsTop 100
FedEx Logistics Announces Headquarters Move
FedEx Logistics will move its global headquarters to the former Gibson Guitar factory building in Memphis, Tenn., according to a Feb. 12 press release.
February 13, 2019