Walmart reaches deal to acquire Bonobos
June 16, 2017
Walmart has agreed to pay $310 million to acquire Bonobos. The men’s clothing company, which was founded as a pure play e-tailer, has since opened its own brick and mortar locations and boutique shops inside of Nordstrom stores. The move for Walmart continues its acquisitions of e-commerce companies including Jet.com, ShoeBuy.com, Moosejaw and Modcloth.
Recent News
Tesla Recalls Cybertruck Due to Stuck Accelerator Pedal
Tesla is recalling almost 4,000 Cybertrucks due to a sticking accelerator pedal. The problem stems from an unauthorized lubricant used during assembly, which reduces the pad’s grip on the pedal.
Trader Joe’s Recalls Organic Basil Product Linked to Salmonella Outbreak
The company’s Infinite Herbs Organic Basil product is recalled due to a possible salmonella contamination.
Procter & Gamble Reports Mixed Results After Price Hikes
Procter & Gamble’s recent quarterly results showed a mix of gains and setbacks. Despite facing challenges in attracting shoppers due to increased prices over the past two years, the company managed to exceed earnings expectations.
JetBlue and Southwest Airlines Collision Narrowly Avoided at Reagan National Airport
An air traffic controller instructed one plane to cross the runway at the same time a second plane was taking off.