US

Walmart Announces Largest Sale Event in July

Walmart is set to host its largest sale event, Walmart Deals, in July. The event will run from 5 PM ET on July 8th to 11:59 PM on July 11th, featuring thousands of products across categories like electronics, home goods, toys, and travel essentials. Special discounts on back-to-school items will also be available. Walmart+ members get early access to deals five hours before other shoppers. This marks Walmart’s second summer sale, following a successful promotion in June.

Target Partners with Shopify for Expanded Online Sales

Target has teamed up with Shopify to allow Shopify sellers to list products on Target Plus. Through the Marketplace Connect app, US Shopify sellers can now apply to sell on Target Plus. This partnership will expand Target Plus’s product offerings with new and popular items, providing growth opportunities for brands. Target Plus, launched in 2019, currently features over 2 million products from more than 1,200 partners. Target plans to introduce select Shopify seller products to physical stores in the coming months.

TikTok Ban Threat Poses Risk to Oracle’s Revenue

Oracle has acknowledged that a US ban on TikTok could impact its revenue and profits. Oracle provides cloud infrastructure for TikTok, which has over 150 million users in the US. The Biden administration has given ByteDance nine months to sell TikTok to avoid a ban. Analysts estimate that TikTok’s cloud infrastructure spending could bring Oracle $480 million to $800 million in revenue. Oracle’s cloud revenue for the fiscal year ending May 31st was $6.9 billion.

Globe

Temu Surpasses Local Retail Giants in Australia

In May, Temu saw significant growth in online customer numbers in Australia, surpassing local retailers like Coles, Flybuys, and Bunnings. Nearly 21.1 million Australians aged 14 and above visited retail websites or apps, with Amazon, Apple, and Woolworths being the busiest. Temu, the fifth most popular online retailer, achieved a 39.7% year-on-year growth in customers. Launched just a year ago in Australia, Temu now boasts 8.1 million local customers and over 11 million monthly website and app users.

L’Occitane Reports Financial Year Results with Mixed Performance

L’Occitane’s net profit for the fiscal year ending March 31st fell 13.9% to €101.8 million, despite a 19.1% increase in net sales to €2.54 billion. The L’Occitane brand saw a 2.3% decline in net sales, while the Elemis brand’s sales dropped by 1.2%. However, the Sol de Janeiro brand experienced a remarkable 157% growth in net sales. Increased marketing expenses led to higher sales costs, impacting overall operating profit.

Victoria’s Secret Q1 Sales Drop Amid Challenging Retail Environment

Victoria’s Secret reported a 3% decline in net sales to $1.359 billion for the first quarter ending in May. The company posted a net loss of $4 million, compared to a net profit of $1 million in the same period last year. Adjusted net profit was $9 million, with adjusted operating income of $40 million. Comparable sales fell by 5%, while international sales grew by 15%. Despite challenges, the brand saw improvements in North American online and in-store sales.

Hole19 Expands Marketplace to Europe

Hole19, a leading golf app, is expanding its marketplace services to Europe. The move aims to connect European golfers with a wide range of golfing products and services. The platform will offer equipment, apparel, and golfing experiences tailored to the European market. This expansion is expected to enhance the golfing experience for millions of European users. Hole19 continues to innovate, making golf more accessible and enjoyable for enthusiasts worldwide.

AI

Apple Explores Meta Partnership to Expand Intelligence Options

Apple is reportedly in discussions with Meta to explore a potential partnership aimed at enhancing its artificial intelligence capabilities. This collaboration could integrate Meta’s advanced AI technologies with Apple’s ecosystem, potentially offering new features and improved user experiences. The partnership underscores Apple’s commitment to staying at the forefront of AI development. Both companies are expected to benefit from shared expertise and resources. The talks highlight the increasing importance of AI in tech industry strategies.

Volkswagen Integrates ChatGPT into Several Models

Volkswagen is incorporating ChatGPT into several of its car models to enhance user interaction and driving experience. This integration aims to provide drivers with advanced voice assistance, making car operations more intuitive. The move represents a significant step in the automotive industry’s adoption of AI technologies. Volkswagen’s initiative is part of its broader strategy to offer smarter, more connected vehicles. The integration is expected to roll out in selected models later this year.

Major Record Labels Sue AI Music Platforms Over Copyright Infringement

Several major record labels have filed lawsuits against AI music platforms, alleging copyright infringement. The lawsuits claim that these platforms have been using copyrighted material without proper authorization. This legal action reflects growing tensions between traditional music industry stakeholders and emerging AI technologies. The outcome of these cases could set important precedents for the use of AI in music creation. The industry is closely watching the developments as they unfold.

OpenAI Delays ChatGPT-4O Voice Mode for Safety Reasons

OpenAI has announced a delay in the release of the voice mode for its upcoming ChatGPT-4O model, citing safety concerns. The decision comes after internal reviews highlighted potential risks associated with the feature. OpenAI is prioritizing user safety and plans to address these issues before launching the voice mode. This delay underscores the challenges tech companies face in balancing innovation with safety. OpenAI remains committed to delivering secure and reliable AI technologies.