Hello Omni Talk Fans! Who would have thought that after 8 years since its debut in 2018, Amazon Go is soon to be no more? I am literally shocked they couldn’t make the stores work for the convenience market. Forget grocery, but convenience?
I guess Las Vegas airport will need to do something else with the huge space Amazon Go takes up coming off the escalator.
In today’s Retail Daily Minute:
- Amazon closes all Amazon Fresh and Amazon Go stores, pivoting to expand Whole Foods with 100+ new locations as it admits failure in creating a differentiated grocery format.
- Michael Burry discloses he’s been buying GameStop shares as a long-term value play, betting on CEO Ryan Cohen’s capital allocation strategy rather than meme stock speculation.
- Meta tests new premium subscriptions across Instagram, Facebook, and WhatsApp, offering exclusive features and AI capabilities while keeping core experiences free.
Plus, a quote from the film (and book before it) that made Mr. Burry famous.
👇 Listen now
Today’s Top Headlines
1. Amazon Shuts Fresh and Go Stores While Shifting to Whole Foods
Amazon announced closure of all Amazon Fresh and Amazon Go stores, converting some to Whole Foods while opening 100+ new Whole Foods locations. The company shifts focus to same-day grocery delivery, acknowledging Fresh failed to create a distinctive customer experience with viable economics despite five years. (Read More)
2. Michael Burry Makes Major Strategic GameStop Investment Bet
Michael Burry disclosed buying GameStop shares as a long-term value investment, citing belief in CEO Ryan Cohen’s strategy and governance. Burry expects to buy near book value and isn’t counting on a short squeeze. Shares surged 6% following the announcement. Cohen recently purchased 1 million shares himself. (Read More)
3. Meta to Test New Subscriptions with AI Features Across Apps
Meta plans to test new subscriptions on Instagram, Facebook, and WhatsApp offering exclusive features, productivity tools, and expanded AI capabilities. The company will integrate recently-acquired Manus AI and offer freemium access to Vibes video generation. These subscriptions target broader audiences beyond creators, separate from Meta Verified. (Read More)
4. Amazon Plans Largest-Ever Layoff Cutting 30,000 Jobs
Amazon plans to cut approximately 30,000 jobs across AWS, retail, Prime Video, and HR units—its largest layoff ever. The reduction affects nearly 10% of corporate workforce. CEO Andy Jassy attributes cuts to reducing bureaucracy rather than financial pressures. Workers affected in October face Monday deadline. (Read More)
5. WHP Global Acquires 50% Stake in Lands’ End for $300M
WHP Global and Lands’ End announced a $300 million joint venture deal, with WHP acquiring a 50% controlling stake. Lands’ End will use proceeds to pay off approximately $234 million in outstanding debt while retaining direct-to-consumer and business-to-business operations, paying annual minimum royalties starting at $50 million.  (Read More)
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— Chris, Anne, and the entire Omni Talk team
Omni Talk® is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk® in 2017 and have quickly turned it into one of the fastest growing blogs in retail.