In today’s top retail news, Cart.com unveiled its purchase of Cheap Cheap Moving Boxes, while UPS revealed consolidated revenue of $24.9 billion for Q4 2020. Plus, Amazon’s Q4 net sales have exceeded $100 billion.
Cart.com revealed its acquisition of direct-to-consumer (D2C) moving box brand Cheap Cheap Moving Boxes, which has significant supply chain, operational and logistics capacity. The terms of the transaction were not announced. Arizona-based CCMB will build on top of Cart.com’s current logistics network with in-depth fulfillment operations and inexpensive shipping supplies.
UPS announced consolidated revenue of $24.9 billion for Q4 2020, marking a 21 percent rise over Q4 2019. Operating profit was up 26 percent compared to Q4 2019. “Our financial performance in the fourth quarter exceeded our expectations, and I thank all UPSers for their extraordinary efforts to deliver industry-leading service through the holidays,” UPS CEO Carol Tomé said in a release.
What could possibly be bigger than the firm’s inaugural $100 billion quarter with new sales arriving at $125.6 billion? How could a 44 percent bounce over Q4 2019 take a back seat to anything? Turns out the answer to the question is that Jeff Bezos will transition to the role of executive chair in Q3 2021 and Andy Jassy will become CEO at that time. “Amazon is what it is because of invention,” Bezos said in an expanded statement on his tenure. “We do crazy things together and then make them normal.”
Tulip, the retail cloud-based mobile tech company, has launched its Fulfillment product to help retailers increase their capacities to supervise, keep track of and deliver online orders directly from the store. Stores can supply shoppers with delivery options via buy online, pick up in-store (BOPIS), curbside pickup, ship from store and reserve online, pick up in-store.