Food delivery workers are striking today from 5:30 to 10:00 p.m. during Austria's Euro match against France. They demand an 8.7% wage increase, but employers only offer 5.8%. Lieferando and Foodora foresee minimal impact.

Amazon plans to invest $10B in Germany, focusing on AWS and logistics. The company aims to grow its workforce to 40,000 by 2024, reinforcing Germany as a key market. Recent investments include a $8.8B AWS expansion in the Rhine-Main area.

Walmart CFO John David Rainey states that Walmart+ members are making more frequent and smaller orders. This trend has driven Walmart's revenue up by 6% to $161.5B, with a 21% growth in e-commerce sales. Walmart aims to surpass Amazon in e-commerce dominance.

Otto's fee changes effective August 1: basic fees up from $43.30 to $108, commissions up by 1-8%, hardware sales fees increased from 7% to 13%. Fee adjustments announced for October, sustainable products to see reduced commissions.

The Wasoko-MaxAB merger, announced in December, is delayed due to economic headwinds. Initial completion was expected in Q1 2024. Issues include extended due diligence and currency devaluation in Egypt.

Uber Eats has helped Puerto Rican restaurants increase sales by up to 50% since its debut in 2018. Over 11 million orders have been placed, and 65% of its 1,700 partners are SMEs. This growth was crucial during the pandemic.

Picnic, the Dutch online supermarket, reached its first gross profit since 2015. CEO Michiel Muller credits robotisation, with order processing becoming twice as efficient. However, he warns that net profits aren't expected soon due to ongoing investments.

British supermarket Tesco saw a 3.6% rise in non-food sales, driven by strong clothing sales. CEO Ken Murphy highlights easing inflation and market share growth. Tesco expects an operating profit of £2.8B for the 2024/25 financial year.

Shein increased prices by 28% on average for dresses in the U.S. This move is part of their strategy to boost revenue ahead of their IPO. External brands like Skechers are also driving higher prices.

Walmart plans to reach e-commerce profitability in the U.S. within two years, as announced on June 7. Sam's Club has already achieved this milestone. Walmart's e-commerce sales rose 22% last quarter, driving company growth.

ByteDance is in talks to raise up to $800M for Dongchedi from HongShan, KKR, and General Atlantic. HongShan will likely contribute up to $500M. Dongchedi saw 33.6M visits in April, surpassing AutoHome.com.cn's 30M.

Getir is running out of cash and needs new funding within weeks. The company, exiting the UK market, must implement leadership changes to secure tens of millions from investors. Founder Nazim Salur faces pressure to step back, while the company risks losing 1,500 jobs.

eBay will no longer accept American Express cards starting August 17th. The company cites "unacceptably high fees" as the reason. Amex disagrees, noting its fees are comparable to other cards.

Google Pay introduces features like card perks display, BNPL options with Affirm and Zip, and biometric card verification. These updates enhance user experience and make Google Pay a stronger competitor in the digital payments market.

Zomato missed profit estimates with $20.96M in Q4, below the expected $22.5M. Expenses rose nearly 50%, causing shares to dip 4.2%. Revenue from operations jumped 73% to $426.6M, beating estimates.

TPG had its best year in 2023. Gross merchandise volume grew to $770M, and sales hit $480M. The number of partners rose to 5,520, and active customers grew to 4.05M. Profitability improved with adjusted EBITDA at $24.7M and consolidated profit at $29.4M.

MercadoLibre is in talks to get a banking license in Mexico, aiming to enhance its financial services. This move follows the success seen in Brazil, with plans to expand digital banking and credit offerings in Mexico.

Alibaba invested $230M into Lazada, totaling $7.7B since 2016. This is its first investment this year. In 2023, Alibaba invested $1.8B. The investment supports Lazada’s low-cost strategy to compete with Temu and Shein.

Xometry reported a 16% revenue growth in Q1 2024, reaching $123M. Marketplace revenue rose by 24%, driven by a 32% increase in active buyers. Gross profit increased by 22%, while supplier services revenue declined.

Esprit, present in over 40 countries, files for insolvency in Germany affecting 1,500 jobs. High rent, labor, and energy costs, alongside pandemic after-effects and international conflicts, cited as reasons.

Ukraine’s Minister of Economy canceled a directive exempting employees of six companies, including Glovo and Favbet, from military mobilization. The directive was questioned for its fairness. The debate highlighted tensions between national security and economic stability.

Getir partners with Türkiye Wealth Fund, hinting at future collaborations. The company recently exited international markets, refocusing on Türkiye where it sees the most growth potential.

Getir, once valued at $11.8B, exits UK, Germany, Netherlands. Suppliers claim unpaid bills, with one alleging a $190K deficit. Getir to focus on Turkey after international demand drops. 1,500 UK jobs at risk.

Shein's promise to improve conditions remains unfulfilled. Workers still face 75-hour weeks and low wages. Audits reveal persistent issues, raising questions about Shein's commitment to change.

Swiggy files for a $1.2B IPO with SEBI. The Bengaluru startup, valued at $12.7B, aims to raise ₹10,414 crore, awaiting SEBI's approval. The IPO will include new shares worth ₹3,750 crore and a stake sale by investors.

Mytheresa's Q3 sales grew by 17.6%, reaching $251.5M. GMV increased by 14.7% to $271.2M. EBITDA soared by 183.8%, and losses were reduced by 41.7%. The CEO highlighted their strong performance in a challenging market.

Walmart is cutting hundreds of corporate jobs and asking remote workers to return to office locations, as per a memo. Affected offices include Dallas, Atlanta, and Toronto, with relocations to Bentonville, Hoboken, and Southern California. The company promises support for impacted associates.

Reuse, founded in 2018, partners with big brands to sell refurbished electronics in LATAM. It just raised $4.5M led by Seaya Cathay Latam, aiming for growth in Mexico.

Software company BigCommerce is exploring a sale with help from Qatalyst Partners after a significant drop in market value. The company's strategic shift follows competitive pressures, especially from Shopify.

On May 8, 2024, Shopify announced a surprising $273M loss for Q1, despite a 23% rise in revenue to $1.9B. After selling its logistics unit to Flexport in 2023, it now expects a decrease in margins. Shares fell 20%, wiping $20B off its market value.

Allbirds' revenue fell 28% in Q1, totaling $39.3M. Joe Vernachio, the new CEO, addresses urgent restructuring as the company anticipates a 25% sales drop throughout the year.

Line Man Wongnai, Thailand's food delivery giant, backed by giants like GIC and Z Holdings, contemplates a 2025 IPO possibly in Thailand and the US. The company's worth surpasses $1B.

About You Holding SE, a Hamburg-based e-commerce company, saw sales of €1.94B, up 1.6% YOY. Adjusted EBITDA improved significantly, reaching €3.2M after a loss of €137M last year. The net loss reduced to €112.2M, nearly halving the previous year's €229M.

Coupang, a South Korean e-commerce giant, saw its net income drop dramatically in Q1 2024, from $91M to $5M, largely due to its recent acquisition of luxury retailer Farfetch. Excluding Farfetch, net income would have been $98M.

Zalando's first-quarter sales of $2.37M mark a minor drop but show promise of recovery with a net loss improvement from $41.4M to $9.6M. Strong B2C and B2B growth highlighted by a 1.3% margin in adjusted EBIT.

At the 2024 Stripe Sessions in San Francisco, Stripe introduced 50+ new features to enhance payments processing and fight fraud, having processed over $1 trillion last year.

Despite a slight drop in sales, Wayfair impresses with a $107M cut in losses and a 3% rise in customer numbers, indicating strong resilience and strategic staffing reductions.

Frasers Group has bought the intellectual property (IP) of Matches, including the brand name and database, and licensed it back to the administrators, aiming to continue its operations and potentially sell off assets.

Global Fashion Group (GFG) reported a significant 21% drop in sales for Q1 2024, earning 153M USD. Adjusted EBITDA also fell to 17.3M USD despite improvements in gross margin. The company maintains its forecast, expecting a currency-adjusted decline in NMV of 5-15%.

Ted Baker, a British fashion brand, is expected to close several stores in the Netherlands and Belgium. This comes after its European partner AARC failed to meet financial obligations, affecting 19 total locations. Authentic Brands Group ended its partnership with AARC in February 2024.

Amazon's Q1 2024 revenue reached $143.3B, driven by AI and advertising. AWS revenue hit $25B, with net income tripling to $10.4B. CEO Andy Jassy sees huge potential in AI and plans to increase capex for AWS growth.

Schibsted buys 9.99% of FINN from Polaris for NOK 2.5B, enhancing control. Polaris gains Schibsted shares. The transaction involves issuing new Schibsted B-shares based on Oslo Stock Exchange's VWAP. The seller is restricted from selling shares for 90 days post-transaction. Carnegie AS advises Schibsted financially; Advokatfirmaet Wiersholm AS provides legal counsel.

Klarna joins forces with Uber in the USA, Germany, and Sweden, introducing the groundbreaking "Pay Now" feature, aligning payments with salary cycles. This strategic move not only broadens Klarna's service spectrum beyond its traditional online retail domain but also positions it favorably amidst pre-IPO speculations, fostering growth aspirations.

Getir, once valued at $7.5 billion, faces closure as its key investor withdraws support. A potential merger with competitor Flink is on the table.

Rebag launches Rebag+, charging $50/month or $500/year, converting into store credit, with perks like free shipping and returns. CEO Gorra aims to boost sales, targeting dormant customers, amid a "deceleration" in growth.

AliExpress, a Chinese e-commerce giant, increased its South Korean subsidiary's capital by $24.2M on April 24, marking the largest capital boost since its 2023 setup.

Finmid, based in Berlin, leverages its embedded fintech solution to empower SMBs with more financing options directly through digital marketplaces. Recently, they raised $24.7M in Series A funding, with a valuation reaching $107M.

Fy! has strategically acquired Trouva, marking its third change of hands in two years. The deal comes as both companies aim for profitability in a tough economic climate.

Deliveroo Plc celebrates a 2% order growth to 73.5M in Q1, with a notable performance in international markets. Meanwhile, Just Eat reports a dip in orders, reflecting ongoing challenges in the sector.

Getir debates leaving Germany as it faces dwindling sales and presence. Urgent restructuring talks in Istanbul could lead to major market exits by May 2024, affecting jobs and operations.