The holiday shopping season may be over, but Wal-Mart is not done innovating. The superstore is headed into 2018 with big technology goals including personal shopping via text message and cashier-less stores. Ted Rubin gives his take on these big retail moves.
Rubin argues Wal-Mart's move to offer personalized shopping via text message is misguided. The store is looking to capture the top 1%'s shopping habits, and he does not think that is possible. Instead, Rubin argues that Walmart should be focusing on their existing footprint and leveraging that to scale up delivery and shopping options.
Rubin also believes that Wal-Mart's acquisition of Jet.com was a multi-million dollar mistake. He argues the superstore should have built out their delivery options.
Microsoft reported a 20% spike in quarterly profits Tuesday, helping to fuel its battle to get ahead of rivals like Google, Amazon and Facebook parent Meta in selling the latest artificial intelligence technology.
Visa Inc. said its adjusted third-quarter profits rose by nearly double digits, as the global payments company continues to benefit from the broad shift by consumers to using credit and debit cards instead of cash.
Even after inflation has steadily eased this year, the Federal Reserve's policymakers still think prices are rising too fast and are almost certain to lift their key interest rate by a quarter-point on Wednesday.
