Online design retailer Fab Inc. is in advanced talks to raise $250 million to $300 million in venture capital in a deal that would value the fast-growing but unprofitable company at $1 billion not including the new capital, people familiar with the matter said.
Amazon.com Inc.’s first-quarter profit declined 37 percent as the e-commerce giant continued to see its results dragged down by its aggressive expansion plans, but gross margin widened to 26.6 percent from 24 percent.
It was the same Swingline stapler, on the same Staples.com Web site. But for Kim Wamble, the price was $15.79, while the price on Trude Frizzell’s screen, just a few miles away, was $14.29. A key difference: where Staples seemed to think they were located.
Online luxury retailer Gilt Groupe Inc. quietly launched a search for a new chief executive to replace co-founder Kevin Ryan as its strives to shore up its financial performance to support a possible initial public offering.
Republican governors, eager for new revenue to ease budget strains, are dropping their longtime opposition to imposing sales taxes on online purchases, a significant political shift that could soon bring an end to tax-free sales on the Internet.
Amazon.com Inc. “strongly supports” federal legislation permitting states to collect state sales tax from Internet retailers, so long as few companies are permitted to duck the requirements, an Amazon executive said at a congressional hearing Wednesday.
More than a decade after book and electronics retailers embraced online customer reviews, the most elite stores in the U.S. are opening their websites—and the brands they sell—to the slings and arrows of public opinion.
At the end of the month, Saks.com, the online arm of Saks Fifth Avenue, will unveil a five-star review system where customers can express their opinions on products ranging from $1,700 Jimmy Choo bags to $7 Kiehl’s lip balm.
Sales for online retailers during the holiday season appear to have declined slightly from 2007, a calamity in an industry accustomed to growth of 20 percent or more. And it looks as though one group was keeping a tighter grip on its wallets than others: the wealthy.
Crazy recession. It’s gotten so that people have cut back on buying diamonds for the last few months–enough to put the near future of online diamond retailer Blue Nile in jeopardy. Jewelry retailers in general had a “horrid” October and November and expect an even worse December–some couples are even postponing their engagements because of job insecurity and economic uncertainty.