Amazon's New Shein-Like Storefront, Walgreens' Store Closures, & H&M's Continued Q2 Challenges

Retail Daily Minute

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Here are today's top headlines:

• Amazon's New Budget Storefront: Amazon is preparing to launch a new budget-focused storefront featuring low-cost products directly shipped from China to US consumers to compete with rising e-commerce rivals like Temu and Shein.
• Walgreens' Store Optimization: Walgreens announced plans to close underperforming stores nationwide to optimize its footprint amid challenges in the pharmacy sector.
• H&M's Q2 Challenges: H&M reported a Q2 operating profit slightly below expectations, with sales rising but June sales expected to decline due to adverse weather and competitive pressures.

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