- Bonobos, the online menswear brand, purchased by Walmart two years ago has laid off dozens of employees as the firm struggles with the profitability of its online businesses. Recode reported this past summer that Bonobos, Modcloth, and Eloquii which were purchased under Marc Lore have yet to reach profitability and that status has lead to strife among corporate leadership.
Best Buy has opened its first outlet store which offers discounts on products the retailer has received as returns from customers. As online sales have grown and return policies have become more lax, returns have increased and retailers are looking for methods to increase their profitability. Best Buy’s outlet location does not accept returns on sold items and is only open three days a week.
- Walmart is selling ModCloth, an online women’s apparel site which it acquired in early, to Go Global Retail. It has been reported that the retail giant has had some internal turmoil over the lack of profitability of its ecommerce businesses.
Chris Walton is an accomplished Senior Executive with nearly 20 years of success within the retail and retail technology industries. He is well-versed in merchandising, store operations, inventory management, product design, forecasting, e-commerce, pricing and promotions, and tech product development.
Chris was most recently a Vice President with Target, where he led the retailer’s Store of the Future project and also ran the Target’s home furnishing division for e-commerce. He previously worked for GAP, Inc., as a Distribution Analyst and Manager.
Chris holds a BA in Economics and History from Stanford University, and a MBA from Harvard Business School.
He likes to dress as Darth Vader for Halloween, and his wife also frequently asks him to ask Alexa, "to turn off the music."