Today Amazon has officially crossed a 1 trillion dollar valuation, making it the second public company in history to reach this monumental target.
This comes just weeks after Apple hit the same milestone.The valuation however was short lived, Amazon needs a stock price of $2,050.27 to be valued at 1 trillion – which they reached earlier today but it later dropped back to $2,025.
The stock will fluctuate between 990 billion – 1 trillion over the next few hours and days – but should definitely stabilise and settle above the 1 trillion dollar mark.
How can you benefit from this as a seller?
It’s probably a good idea as an Amazon seller to also invest and own some Amazon stock – so that you’re efficiently positioned to benefit from both your own growth and that of the overall platform.
There’s serious returns available here.
Amazon first went public at $18 a share in 1997.
That’s a 113x growth since then.
But don’t think it’s too late to get in on the action – the returns this year alone have been 75%.
As Amazon continues to grow and take over the world – this means more customers to sell your products to, more international marketplaces to expand to and faster rates of profit as future trends like voice search and drone deliveries make online shopping that much more prevalent.
Wall Street has grown very enthusiastic about Amazon’s non-retail businesses, the Associated Press reports. Amazon Web Services provides cloud computing services to companies and government, and its advertising division makes billions by selling ads to companies that want their products to show up when shoppers search on the site.
Other big companies — including industrial giants that have been around for more than a century, such as Boeing (market cap $207 billion), 3M ($119 billion) and General Motors ($55 billion) — are worth far less than the high-flying tech companies because their prospects for earnings growth are nowhere near as strong. Market watchers have been expecting both Amazon and Apple to eventually have valuations topping $1 trillion.
Amazon shareholders have already had a extraordinarily good year. The company’s stock has surged more than 70 percent since January, outperforming Apple, which has gained more than 30 percent. During that same period, the broad market benchmark S&P 500 rose 8 percent.
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2018 has been yet another challenging year for traditional retailers. After shutting down more than 5,000 stores in 2017, there have been more than 4,000 store closures announced so far this year.
The latest news is from a leader in the women’s lingerie business. Read on for the details…
Retail closings: The latest news
Victoria’s Secret – 20 stores
Some malls across the country will be losing their Victoria’s Secret stores.
During a recent investor call, company executives said Victoria’s Secret will shut down about 20 of its roughly 1,000 North America locations and open about three this year.
Victoria’s Secret is part of L Brands, which also includes PINK and Bath & Body Works.
On that investor call, L Brands announced a slight drop in same-store sales and the retirement of Denise Landman, CEO of Victoria’s Secret PINK. Leaders said they were “very focused” on improving performance at Victoria’s Secret.
Although no list of the closing stores was released, executives said decisions about the store portfolio are made based on performance.
Sears and Kmart – 46 additional stores
You can add another 46 Sears and Kmart locations to the store closing list.
Sears Holdings has already shut down several hundred unprofitable stores this year and has now decided to close even more in November 2018.
“We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed,” Sears Holdings said in a news release.
Liquidation sales will begin as early as August 30 at the following stores:
Kmart stores closing
935 Sweetwater Road, Spring Valley, CA
1075 Shaw Avenue, Clovis, CA
3625 East 18th Street, Antioch, CA
6310 W 3rd Street, Los Angeles, CA
589 Bridgeport Avenue, Milford, CT
301 College Square, Newark, DE
3231 Chicago Road, Steger, IL
11 South Kings HWY 61, Cape Girardeau, MO
2308 Highway 45 N, Columbus, MS
605 Old Country Road, Riverhead, NY
440 NW Burnside Road, Gresham, OR
101 Great Teays Blvd, Scott Depot, WV
2150 South Douglas HWY, Gillette, WY
Sears stores closing
Flagstaff Mall, 4800 N US HWY 89, Flagstaff, AZ
Capitola Mall, 4015 Capitola Road, Santa Cruz, CA
2424 Highway 6 And 50, Grand Junction, CO
2266 University Square Mall, Tampa – University, FL
1625 NW 107th Avenue, Doral / Miami, FL
Coastland Ctr, 2000 9th Street N, Naples, FL
Oglethorpe Mall, 7810 Abercorn St, Savannah, GA
2860 Cumberland Mall, Atlanta, GA
100 Mall Blvd Ste 300, Brunswick, GA
1631 E Empire Street, Bloomington, IL
4201 Coldwater Road, Fort Wayne, IN
3000 Mall Road, Florence, KY
1914 Hammond Square Drive, Hammond, LA
50 Holyoke Street, Holyoke, MA
Silver City Galleria, Taunton, MA
1250 Jackson Xing I-94, Jackson, MI
4601 Glenwood Avenue, Raleigh – Crabtree, NC
77 Rockingham Park Boulevard, Salem, NH
1500 South Willow Street, Manchester, NH
4409 Black Horse Pike, Mays Landing, NJ
200 Eastview Mall, Victor, NY
578 Aviation Road, Queensbury / Glen Falls, NY
1400 Union Turnpike, New Hyde Park, NY
2700 Miamisburg Centerville Road, Dayton, OH
9505 Colerain Avenue, Cincinnati – Northgate, OH
11800 SE 82nd Avenue, Happy Valley / Portland, OR
400 Memorial City Way, Houston – Memorial, TX
Post Oak Mall, College Station – Bryan, TX
7453 S Plaza Center Drive, West Jordan, UT
12000 Fair Oaks Mall, Fairfax, VA
8800 NE Vancouver Mall Drive, Vancouver, WA
4720 Golf Road, Eau Claire, WI
Valley View Mall, 4200 US HWY 16, La Crosse, WI
Orchard Supply Hardware – 99 stores
Lowe’s has announced that it’s shutting down all 99 of the Orchard Supply Hardware stores that it owns.
According to a news release, Lowe’s says it’s closing the Orchard stores, which are in California, Oregon and Florida, to focus on its core home improvement business.
Along with the stores, a distribution facility that services them will be gone by the end of fiscal 2018.
“While it was a necessary business decision to exit Orchard Supply Hardware, decisions that impact our people are never easy. We will be providing outplacement services for impacted associates, and they will be given priority status if they choose to apply for other Lowe’s positions,” said Lowe’s president and CEO Marvin Ellison, formerly of J.C. Penney.
In addition to closing Orchard Supply Hardware stores, changes are coming to Lowe’s. The retailer will be aggressively rationalizing its store inventory by reducing lower-performing items.
These moves are taking place to help Lowe’s better compete with Home Depot.
The seller of massage chairs, neck massagers and other travel items said it would close 102 of its mall stores. Meanwhile, an additional 35 airport-based locations will be put up for sale because they continue to meet revenue goals.
The Fresh Market – 15 stores
The Fresh Market recently announced that it plans to close 15 stores in Georgia, Illinois, Indiana, Kentucky, North Carolina, New Hampshire, Tennessee, Virginia and Wisconsin.
This comes after the company completed an organizational analysis, which focused on the retailer’s overall growth strategy and long-term financial performance.
The Fresh Market said on July 10 that the impacted stores below will close in two to four weeks:
Snellville, GA
North Druid Hills, GA
Peoria, IL
Normal, IL
Glen Ellyn, IL
Lincolnshire, IL
Fishers, IN
Louisville, KY
North Charlotte, NC
Bedford, NH
Hendersonville, TN
Winchester, VA
Charlottesville, VA
Brookfield, WI
Fox Point, WI
“Over the last eight months, our company has been executing a turnaround plan and we’ve seen great progress,” said Larry Appel, CEO of The Fresh Market. “However, for a variety of reasons unique to each retail location, that progress is not evenly distributed and, as a result, we have decided to close these long-term, underperforming stores.”
The company said it doesn’t expect any further store closures in the foreseeable future.
Chipotle – 65 stores
Chipotle Mexican Grill is closing up to 65 underperforming restaurants this year, many of them in the next 30 days.
No list of the locations was provided, but USA Today reported in late June that the affected restaurants have been open between two and 15 years. Read more here.
Chipotle says it plans to focus on revamping its marketing strategy, growing digital sales and launching a new loyalty program in 2019.
Toys R Us – 735 stores
It’s a sad day for Toys R Us kids across the country.
The iconic Wayne, New Jersey-based toy retailer is closing all of its 735 stores by June 29. Liquidation sales have been taking place at Toys R Us and Babies R Us locations nationwide since March 23.
Toys R Us is counting down the final days on its social media pages, though many stores may already shut their doors.
Liquidation discounts have been up to 70% off, according to the retailer’s Twitter page. Let us know in the comments below if you’ve found any great deals!
Your corner Starbucks may be closing its doors next year. The coffee chain announced in June 2018 that it plans to shut down about 150 underperforming company-operated stores in the 2019 fiscal year.
The optimization of its U.S. store portfolio will concentrate on densely penetrated markets, Starbucks said in a news release:
“Starbucks is optimizing its U.S. store portfolio at a more rapid pace in FY19, including shifting new company-operated store growth to underpenetrated markets, slowing licensed store growth, and increasing the closure of underperforming company-operated stores in its most densely penetrated markets to approximately 150 in FY19 from a historical average of up to 50 annually. In FY19, this will result in a slightly lower growth rate in net new company-operated stores.”
Fortunately, no employees are expected to lose their jobs, as they will likely shift to other locations. The store closures represent just 4% of H&R Block’s nearly 10,000 company-owned and franchise locations.
“We aren’t as relevant as we need to be to today’s consumer,” CEO Jeff Jones said of the news during an earnings conference call.
Kroger – 14 stores
Kroger will reportedly close more than a dozen stores in the Raleigh-Durham area of North Carolina because the grocery market there is over-saturated. Some 1,500 employees may lose their jobs.
However, on a brighter note, at least eight of the stores will be bought by Harris Teeter — a wholly owned subsidiary of The Kroger Co. that’s native to the Tar Heel State.
Lord & Taylor – Up to 10 stores
Your local Lord & Taylor may be closing soon. Hudson’s Bay, the department store chain’s owner, plans to shut down up to 10 of its 48 Lord & Taylor stores nationwide through 2019, including its iconic New York City Fifth Avenue location.
The retailer says an increased focus on digital, new leadership and an optimized store footprint will help reduce costs and improve the brand’s overall performance.
HBC’s CEO Helena Foulkes elaborated in a news release:
“We are also taking action to reposition Lord & Taylor for improved results and increased profitability. With a new leader dedicated to evolving our experience and merchandise assortment to best meet customer expectations and shopping preferences, we will take advantage of having a smaller footprint to rethink the model and focus on our digital opportunities. The Lord & Taylor flagship on Walmart.com, which launched last week, is a great example of this and represents how we are thinking about the entire business.”
Subway – 500 restaurants
Subway plans to close 500 of its U.S. sandwich shops this year and will focus on expanding internationally, according to Bloomberg.
The company has faced competition from McDonald’s, supermarkets and even gas stations. It’s reportedly struggling to increase sales in the U.S. as new options emerge.
There are still more than 25,000 Subway locations across the country.
Bon-Ton – 256 stores
The Bon-Ton Stores Inc., a department store chain, announced in mid-April that it’s going out of business.
The store has been an icon of retail since 1854 with 256 locations today in operation throughout 23 states in the Midwest, Northeast and upper Great Plains.
Bon-Ton also owns six other nameplates: Boston Store, Younkers, Bergner’s, Carson’s, Elder-Beerman and Herberger’s.
The liquidation process in all Bon-Ton stores began on April 20 and is expected to run for approximately 10 to 12 weeks. Customers can learn more at bontonrestructuring.com.
GNC – 200 stores
Vitamin retailer GNC is shutting down about 200 stores in 2018. The company said efforts toward favorable lease renegotiations or relocation opportunities are ongoing and may impact the number of closings.
J. Crew – 20 stores
J.Crew Group announced in March that it plans to close 20 stores in 2018. It shut down 50 stores during fiscal 2017.
The retailer says it’s seeing results in its most important business — women’s apparel — but the company is only in the beginning stages of evolving the J.Crew brand.
In the fourth quarter of 2017, J.Crew sales decreased 4% and Madewell sales rose 32%.
Abercrombie & Fitch – 60 stores
Abercrombie & Fitch isn’t finished shrinking its retail footprint. The teen apparel company said it plans to close about 60 stores in the U.S. during the fiscal year as leases expire.
CNBC reports that Abercrombie has been trimming its store count in malls because more people are buying clothes online.
Foot Locker – 110 stores
Your favorite shoe store may be closing soon — Foot Locker is shutting down 110 stores in 2018.
During a recent earnings call, Foot Locker executives said the retailer is continuing to close underperforming stores. The company has struggled with declining foot traffic at malls and the shift to e-commerce.
Foot Locker reported a net loss of $49 million in the fourth quarter and comparable-store sales fell 3.7%.
In this episode, Grant takes a morning trip to West Palm Beach to speak to 2,000 entrepreneurs about the biggest secrets about how to accumulate indestructible wealth. Grant has been studying these secrets for the past 30 years and have been able to reach massive success.
The receiver, Mark Bernet has recovered over $14.3 million to date. $6.3 million is coming from a credit card processing company and its acquiring bank, after he obtained an order from Judge Dalton commanding them to turn the money over.
That order is posted on this website, and can be viewed HERE. The card processor and bank intend to appeal Judge Dalton’s order. The FTC and Mark Bernet both will defend the order on appeal.
He has several other potential sources of recovery that he is pursuing. This may include lawsuits against third parties.The Court has not yet established a claims process. Please continue to monitor this websites for updates.
The receiver for the FTC has concluded that MOBE cannot be operated legally and properly. For that reason, MOBE has been completely shut down.
The Receiver’s investigation confirms that this allegation is true: Virtually all of the consumers with whom the Receiver has communicated did not earn back the amounts they paid to purchase MOBE memberships. This is not to say that all MOBE members lost money utilizing the MOBE program.
For example, Michael Williams and Michael Giannulis reportedly earned over $23 million, and were awarded Rolex™ watches and platinum rings in May, 2018 by the Defendant McPhee. Similarly, the Defendant Whitney reportedly earned several million dollars through the MOBE programs. These, however, are exceptions.
Status of Refunds
It could take several months, if not longer, to resolve the case against MOBE. If the lawsuit results in refunds, FTC use information from MOBE’s database to identify customers who lost money and are eligible for a refund. At that time, you might need to give information to verify your claim. But not right now.
What to Do Now to Get a Refund
You don’t have to do anything right now to request a refund. If you hear that you have to send a request to get a refund, it’s not true. That could be scammers trying to steal your personal or financial information. If there are refunds, the FTC will tell you if you need to do anything.
Amount of Refunds
If there are refunds for MOBE customers, each person’s refund may depend on several things, including: how much the defendants are able to pay; how much the court orders for refunds; how many people lost money; and how much each person lost.
What to Do If You Were a MOBE Customer
Report your MOBE experience to the FTC: ftc.gov/complaint. This information may help the FTC in its case against MOBE. Your report also makes sure the FTC can contact you, if necessary.
If you were a MOBE customer outside the United States, you also may want to report to the consumer protection agency in your country. For more information about reporting international scams, go to econsumer.gov.
Save your documentation. Save any emails, documents or receipts relating to MOBE. If the case results in refunds for MOBE customers, your records could help you prove how much you paid. That could be a factor in how much money you could get back.
Aretha Louise Franklin (March 25, 1942 – August 16, 2018) was a Great singer and songwriter. Her gospel-rooted singing and bluesy yet expansive delivery earned her the title “the Queen of Soul,” has died, a family statement said Thursday. She was 76.
Aretha died at 9:50 a.m. at her home in Detroit, surrounded by family and friends, according to a statement on behalf of Franklin’s family from her longtime publicist Gwendolyn Quinn.
“Let’s all take a moment to give thanks for the beautiful life of Aretha Franklin, the Queen of our souls, who inspired us all for many many years. She will be missed but the memory of her greatness as a musician and a fine human being will live with us forever. ” Paul McCartney
“Aretha helped define the American experience. In her voice, we could feel our history, all of it and in every shade—our power and our pain, our darkness and our light, our quest for redemption and our hard-won respect. May the Queen of Soul rest in eternal peace.” Barack Obama
Aretha Franklin (You Make Me Feel Like) A Natural Woman – Kennedy Center
Qualpay Inc. and Synovus Bank to hand over total value currently held in the MOBE Reserve Accounts, $6,314,342.09, to the Receiver no later than Thursday, August 16, 2018, by check payable to the Receiver, or in such other form as the Receiver and Qualpay Inc. or Synovus Bank may agree.
This is after a heated court battle that was based on the principle that the payment processor Qualpay Inc. and the bank Synovus Bank reserves the right to withhold funds for a specific reason. Both companies argued that they had rights to keep the money due to their terms of agreement with MOBE. Unfortunately the judge does not see it this way, court ruled that since the owner of the money is MOBE that they will be require to turn over the money to the FTC.
This is great news for those customers of MOBE that have not been able to get a refund or any money that was owed to them. Although these funds might still be held until the court hearing is over it still means that $6.3 Million dollars is accounted for and not help up in assets such as real estate and equipment.
1. It is part of the ongoing foundation of life.
Those who came before leave us the world we live in. Those who come after will have only what we leave them. We are stewards of this world, and we have a calling on our lives to leave it better than how we found it, even if it seems like only a small part.
2. It has the raw power for good and for bad.
There are people who have changed the world for good, people who have opened up new worlds for millions of others, people who have spurred others on to new heights. And, conversely, there are people who have caused massive destruction for countless millions, people who left a wake of pain behind them wherever they went. There are parents who have blessed their children with greatness and parents who have ruined their children’s fragile minds and hearts. What we do affects others. Our lives have the power to create good or purvey evil. It is important that we choose to do good.
3. It is an act of responsibility to leave a legacy.
Because of the power of our lives and the legacies we leave, it is a great responsibility to choose to leave a positive legacy. All good men and women must take responsibility to create legacies that will take the next generation to a level we could only imagine. I truly believe that part of what makes us good and honorable people is having a foundational part of our lives based on the goal of leaving a legacy.
4. It breaks the downward pull of selfishness that can be inherent in us all.
When we strive to leave a legacy, we are acting with a selflessness that can only be beneficial for everyone. Yes, I suppose someone could work hard to earn money so that when he or she dies a building is named after them, but that is not the kind of legacy we are talking about. We are talking about legacies that make life better for those who come after us, not about our own fame or recognition, but about helping others. After all, we won’t be around to watch our legacy. To build that which will last beyond us is selfless, and living with that in mind breaks the power of selfishness that tries so desperately to engrain itself in our lives.
5. It keeps us focused on the big picture.
Legacy building is part of the “big picture.” It keeps us focused on the long term and gives us values that we can judge our actions by. When we are acting based on selfishness, personal expediency and the like, we are focusing on the “small picture”—whatever is pragmatic right now. When we are building a life that will give for many years, we are thinking “big picture.” Ask yourself: How does this action affect my overall goals? How will this affect people in the years to come?
Yes, your legacy is very important. Reflect on how you are going to use the lessons, information and skills from those before you to build a life that leaves a tremendous legacy!
Today Amazon has officially crossed a 1 trillion dollar valuation, making it the second public company in history to reach this monumental target.
