Good Week: Walmart – The world’s largest retailer goes all-in on innovation, launching a Silicon Valley-based incubator lab focused on robotics. The lab will house independent start-ups with whom Walmart and VCs will team to create proprietary technology.
Bad Week: Uber – The hits keep coming for the beleaguered ride-hailing service with this week’s exodus of two more of its top executives. Your implosion will arrive in 4 minutes.
Other Notable Brand Beat-Downs: AT&T sees 17,000 or so California and Nevada employees go on strike over shifting job duties. Wells Fargo’s greed comes home to roost in the form of a 40% decline in new-account openings and a 53% drop in credit card applications last month vs. one year ago. Ouch!
Worse Week: Sears & Kmart – Amid mounting losses, the parent company of the two iconic retail brands – Sears Holdings – expressed “substantial doubt” about its ability to remain in business. Leadership is attempting to raise cash by financing debt and selling off real estate but acknowledges facing “a challenging competitive environment.” The Blue-Light Special: going the way of the dodo?!?
