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Walmart-backed PhonePe winds down its Pincode app in yet another e-commerce step back

PhonePe, backed by Walmart, is shutting down its Pincode e-commerce app to focus on B2B services for offline merchants. The app, launched in April 2023, struggled in India's crowded market. PhonePe aims to enhance operational efficiency for small retailers and is preparing for a public listing in India. The shift aligns with PhonePe's strategy to grow beyond its payments app dominance.

TechCrunch·
US
WMT
+0.38%
TechCrunch·
US
WMT
+0.38%

Kroger Shells Out $350M to British Retailer Ocado after Robots Reversal

Kroger is paying $350 million to Ocado after abandoning plans for robotic warehouses, exceeding the expected $250 million. This decision follows Kroger's review of automation technology to cut costs and improve profitability. Ocado had partnered with Kroger since 2018 to build automated fulfillment centers, but Kroger now plans to fulfill orders directly from stores. The payment will be made in January.

Tip Ranks·
US
KR
-4.62%
UK
OCDO
0.00%
Tip Ranks·
US
KR
-4.62%
UK
OCDO
0.00%

Should Walmart really be trading like a tech company?

America’s biggest retailer is growing quickly in e-commerce, and it might advance more as it moves to Nasdaq.

MSN·
US
WMT
+0.38%
MSN·
US
WMT
+0.38%

Update: Kroger to Pay Ocado $350 Million After Canceling Robotic Warehouse Plans

Kroger has agreed to pay Ocado Group $350 million after deciding to close three robotic warehouses and cancel a planned facility in North Carolina. This payment compensates Ocado for the closure of its fulfillment centers. Kroger has not yet commented on the decision.

fidelity·
US
KR
-4.62%
UK
OCDO
0.00%
fidelity·
US
KR
-4.62%
UK
OCDO
0.00%

Should Asahi’s Cyberattack‑Driven FY2025 Earnings Delay Require Action From Asahi Group Holdings (TSE:2502) Investors?

Asahi Group Holdings (TSE:2502) postponed its FY2025 financial results release due to a cyberattack disrupting systems and audits. This incident raises concerns about operational resilience and cybersecurity, impacting investor confidence in risk management. The delay may affect the company's investment narrative, focusing on internal controls and capital return timetables. Despite the setback, Asahi's shares might still be overvalued, with varying fair value estimates from investors. The situation highlights the importance of cybersecurity in assessing consumer staples companies' risk profiles.

Simplywall·
US
TGT
+0.74%
US
COST
-2.86%
US
KR
-4.62%
Simplywall·
US
TGT
+0.74%
US
COST
-2.86%
US
KR
-4.62%
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