Good Week: Walmart – In a reversal of the Amazon/Whole Foods online-company-buys-bricks-and-mortar-company storyline, the world’s largest retailer purchased online clothing biz Bonobos for $310M. But don’t expect to see Bonobos in the aisles of your local Walmart: the chain announced plans to sell the clothing exclusively on Jet.com, which it purchased for $3B earlier this year. So technically, Walmart picks up its pants while virtually every other big-box retailer is dropping theirs.
Mixed Week: Uber – The announcement that the troubled ride-hailing company will begin allowing riders to tip drivers followed by only two days news that its CEO/founder – under fire for helming a runaway culture – will be stepping down. And Travis: if you’re reading this, I just wanted to say “Hi, Kalanick!”
Bad Week: Etsy – Facing increasingly stiff competition, the online crafts marketplace announced its second round of layoffs in a month, shedding an additional 230 jobs. No truth to the rumor that the employees’ termination package included two weeks’ pay, a potholder and a clay ashtray.
